FNB ******* DEBIT ORDER DISPUTE POLICY DURING LOCK DOWN

On the 19th of May 2020 I called the FNB's Premier Banking line to make an arrangement to move my debit order date from the 25th of May 2020 to the 1st of June 2020. The consultant was very friendly and assured me that the debit order has been changed and that it will not go off on the 25th of May.

The 25th of May came and the debit order was taken from my account. I called FNB again and they told me it was because it was loaded less that 5 days before the debit order was due to go off. I gave up on my argument with the consultant after explaining to him that I have a right as a consumer to instruct the bank to reverse an unauthorized debit order after which I was told that their regulations have changed due to the Covid-19 pandemic and they don't currently reverse debit orders, which is my view is ******** in terms of the Banking Ombudsman Debit Order regulations:

6.2 Disputing a debit order

A customer has the right to instruct his or her bank to reverse a disputed EFT and NAEDO debit order (AEDO only in the case of *****) if the customer declares in writing that:

1. He did not authorise the debit order in question. 2. The deduction of the debit order was in contravention with his authority. 3. He instructed the user to cancel the debit order authority. 4. He stopped payment of the debit order instruction.

I asked the consultant if he can assure me that the money will not go off of my account again on the 1st of June and he confirmed that it will not happen because the system already took the debit order on the 25th of May.

On the 1st of June I replenished my account and FNB immediately took the 2nd debit order. I called them with rage and the consultant said that J should wait a further 24 hours before they can assist me with any type of refund request. The next day I called them again and my request was submitted for a refund but then I was told to wait 5 to 7 working days for it to be approved.

What if this was the only money I had to survive and FNB took it *******ly after I made a verbal arrangement, which was recorded, to change what goes off of my account when?

The total amount taken from my account was more than R3300 which should've only been R1700.

FNB's personal loan interest rate is also far higher than than the maximum interest rate for a personal loan which is lower than 30%. FNB's personal loan interest rate on my account is currently 58.8% excluding a service fee of R69.00.

I therefore have the following request or I will have no other option but to take this up with the Banking Ombudsman.:

1. FNB repeal their ******** debit order policy instituted during this lock down period.

2. The money that was ********ly deducted from my account be refunded within the next 48 hours with interest.