FNB Private Wealth and Home Loans ********* Practices

2 Matters I want to write about:

1. I recently paid-off the outstanding balance on my mortgage account in advance of the due date. At inception I signed a Flexi-account home loan with FNB meaning that I would have access to the loan’s principal amount (if fully paid). In mid May 2022, I however noticed that monthly payments where still scheduled to come off the account even though the account was fully paid off as at 1 May 2022. I could not get through to the FNB Home loans desk directly despite calling on 3 separate days, their line just rings with no answer. I alerted my private banker about the scheduled payments and asked him to assist. He also took more than a week to respond to me and in the end proved to be of little assistance. My private banker asked me to fill in a form to have my flexi-home loan reinstated and to provide comprehensive insurance cover to the bank. I rejected these requests as I already have an existing flexi-home loan facility with FNB. Not long after rejecting the requests from my private banker I received 2 calls from FNB Home loan agents stating that I do not need to fill in any forms or re-submit comprehensive insurance cover as my current home-loan is a flexi-home loan facility but that I would need to transact on this home-loan facility monthly if I want to keep it as the bank no longer offers my flexi-home loan facility. I would need to convert/transfer to the new Flexi-home loan facility. I was basically being forced to either close my current mortgage account or transact on it to keep the terms and conditions of my current mortgage account active, which I found *********. I was told the difference between the old and new flexi-home loan facility is that with the new flexi-home facility I will only have access to the funds that I prepaid (not the full principal amount). There has been no communication from FNB to me as a customer about the changes it has made, and this issue has been very poorly handled. I was only notified about these changes because I called in and enquired otherwise, I would be none the wiser. I also want FNB to show me on the contract that I had signed where it gives them the right to change the nature of the product without my consent/to force me to change to another product offering by making my current product offering difficult to manage. This is totally *********.

2. FNB have, without communicating to Private Wealth customers, changed the nature of how their private banker’s work. Firstly, your private banker is no longer referred to as a private banker they have changed to private advisor. This change was made with no communication to me as a customer. In the past I have always had relatively good service from my private bankers, and I get responses on the same day. This has not been the case for me in the last 2 years. When I questioned my private advisor about the change, he told me that they don’t deal with transactional level issues anymore and that for transactional level queries I need to contact the FNB private wealth suite for assistance. This suite can be either useful or absolutely useless (as I found out on many occasions in the past) it’s the luck of the draw for you as a customer as far as the private wealth suite is concerned. Getting back to the private banker issue - my experiences in the past and prior to my current private banker has been that when I contact my private banker for transactional level queries/issues they assist me with it my issues and provide accurate information and provide it promptly, but this seems to be no longer the case. So as in the first instance with the home loans FNB has chosen to make changes to the quality of service/product offered without communicating it to me as a customer and in both instances the changes are not in my best interest as a customer but rather seem detrimental to me as a customer. This is not the level of service I have come to expect from FNB in the 28 years that I have been banking with you. I deserve an explanation from FNB management on both these matters and I am writing here because I am not happy with the explanations I get from my private advisor or other FNB agents that have contacted me because they either don’t have an explanation or provide incorrect information.