FNB: Horrific Customer Service & ********* Business Practice

I received a random notice stating that my home loan interest rate is increasing — with NO explanation. I called in and was told this was an “error” (***). This turned out to be a blatant LIE.

I followed up the next day after receiving no communication regarding the so-called “error” and was informed that FNB increased the rate because we "no longer qualify for the main bank discount," claiming that the higher income earner does not have the bond debit order going off their account. When we signed up, my wife was the higher income earner, and the bond was linked to her account - which met your requirements.

What gives FNB the right to unilaterally reassess our finances in 2025 and alter the terms of our bond agreement? More importantly, who gave FNB permission to access my financial information to determine income levels? I do not bank with FNB. How did you even obtain that information?

This is a direct violation of the Financial Intelligence Centre Act (FICA), which governs the access, use, and protection of customer financial data. Section 3 of FICA requires that any processing of personal financial information be lawful and authorised - I did NOT authorise any such access or analysis of my financial standing. Your actions may also constitute a breach of Section 11 of the Protection of Personal Information Act (POPIA).

Furthermore, under the Consumer Protection Act (CPA), Section 48, it is ******** for a supplier to change the terms of an agreement in a manner that is unfair, unreasonable, or unjust. You cannot alter agreed-upon rates without notice, consent, or valid justification - and definitely not based on assumptions or unsolicited financial assessments.

I approached Standard Bank who beat your rate - with no strings attached. I sent their quote to FNB on 01/08/2025 (after it offered to try and beat the rate) clearly stating that it was time-sensitive. Since then, I’ve been told that it is sitting with the “Pricing Head” and “Senior Manager.” It’s now 06/08/2025. Why is a simple rate match taking over 5 working days?

Everyday I’m told I will receive feedback “today” or “tomorrow morning.” These are blatant lies, repeated daily. Does FNB senior management simply not care about its customers?

FNB's managers need to take a page out of 2 specific employees that I dealt with today, 1 is a knowledgeable branch consultant, the other a well-mannered contact center agent (Names withheld. I can provide them if you wish to praise them). These 2 know the value of customers in a business.

This experience has been insulting, dishonest, and disrespectful. You’ve breached both your legal and ethical duties to your customers.