FNB: The uncaring bank

Without prejudice The Bank has left me in my time of need by not assisting/enabling me to reverse unauthorised debit order/s. The two debit orders were done by the third party on sequential days (24/25 April 2020). I have been in constant contact with the Bank since 24 April 2020 utilising a variety of channels (webchat, calling, emailing) and was informed that only a debit order of under R200 can be reversed/stopped (whatever they call it). Alternatively, the FNB miracle app can (not sure if it can) – but … my device is not verified.. and this takes 7 days. In the meantime, my money is already taken by a third party.

It seems FNB has suddenly changed its way of work (since 3 April 2020) by disabling debit order reversals without communicating with its customers. This is against the code of banking practice but yet they advertise that they do: https://www.fnb.co.za/security-centre/*****-and-disputes.html

Page 33 of the code of banking practice (to quote): Disputes about debit orders You should report any disputes relating to your debit order to your bank. In particular, you should raise a dispute when the third party: • has withdrawn an amount before the date specified in your instruction; • continues to collect a debit order that you have cancelled or is subject to a stop payment instruction; • debits your account for an incorrect amount; • has collected a debit order you did not authorise or in a manner you did not authorize (e.g. split the collection amount or consolidate several debit orders); or • has collected a debit order that is not consistent with your instruction.

And FNB promises to abide by the code - see their website:

https://www.fnb.co.za/about-fnb/legal-matters/code-of-banking-practice.html

Please ask FNB to assist with the cancellation of one or two debit orders.

If the Bank cannot assist I will report the Bank to the Banking Council and will definitely move all my assets to a bank that honours its promise.

I am one of the breadwinners of my family. My brother owns a restaurant and is bankrupt - he needs some of my money R1000 just to buy a little stock to try and reopen the restaurant so that he can reemploy some of his staff on Saturday.

The money taken without my permission has a large impact not only on me but on three other families.

I beg the Bank to assist to reverse at least the last debit order. Where is the C19 caring that was supposed to be shown during this time or is it all about market taking?

Kind regards F