1 reviews | Active since Sept 2016
FNB houses LOAN CONNECTORS ********** account!
I love FNB. I worked for FNB. I have always respected FNB. Yes it gets expensive in charges. But I love their Technology, it simply brings full convenience to life. But I am shocked to see FNB houses one of the most ********** accounts - LOAN CONNECTORS. These people take unauthorized debit orders from thousands of South Africans. I have already gone to reverse the debit order by these *********. Search LOAN CONNECTORS here on Hellopeter.. But why is it that their account is with FNB? I'm fully disappointed.
Good Day Tebogo Magoro ,
Thank you for your posting,
We note the concerns raised regarding Debit Order Disputes and assure you that all the comments and concerns are noted .
We however need take into account that this is not a FNB Process but rather an Industry Process followed by all banks and all the Participating Banks must adhere to the Clearing Rules. All debit orders are processed in line with the Payment Industry standards and rules. These are on the basis that a valid debit order authority being held between the debit order originator and the account holder. In the event that a valid debit order authority does not exist, the account holder is protected by being given the opportunity to dispute the transaction. Where a debit order originator is found to be debiting in contravention of the Payment Industry standards and rules, action is taken against them.
This is in line with the Code of Banking Practice as well as the Payment Industry Rules.
What is the Bank doing about it: FNB is currently participating in many Payments Industry initiatives with the view of eradicating Debit Order Abuse. These initiatives include:
Tighter application of the Industry Regulations and Clearing Rules
Increased inter bank co-operation
and involvement
Tighter company vetting and on boarding
Increased co-operation with and involvement of SABRIC FNB is committed to working with PASA and other Participating Banks to ensure that the abuse of the Payment System is addressed.
You are advised to visit your branch and dispute any unauthorised debit orders.
Regards,
Client Experience Team
Email address: ***
Tel number: ***
Good Day Tebogo Magoro ,
Thank you for your posting,
We note the concerns raised regarding Debit Order Disputes and assure you that all the comments and concerns are noted .
We however need take into account that this is not a FNB Process but rather an Industry Process followed by all banks and all the Participating Banks must adhere to the Clearing Rules. All debit orders are processed in line with the Payment Industry standards and rules. These are on the basis that a valid debit order authority being held between the debit order originator and the account holder. In the event that a valid debit order authority does not exist, the account holder is protected by being given the opportunity to dispute the transaction. Where a debit order originator is found to be debiting in contravention of the Payment Industry standards and rules, action is taken against them.
This is in line with the Code of Banking Practice as well as the Payment Industry Rules.
What is the Bank doing about it: FNB is currently participating in many Payments Industry initiatives with the view of eradicating Debit Order Abuse. These initiatives include:
Tighter application of the Industry Regulations and Clearing Rules
Increased inter bank co-operation
and involvement
Tighter company vetting and on boarding
Increased co-operation with and involvement of SABRIC FNB is committed to working with PASA and other Participating Banks to ensure that the abuse of the Payment System is addressed.
You are advised to visit your branch and dispute any unauthorised debit orders.
Regards,
Client Experience Team
Email address: ***
Tel number: ***