FNB Top-Up Debt Protection - BEWARE!!

To everyone who's been called about Top Up Debt Protection and who currently has it: BEWARE!!

I was called by a consultant proclaiming the benefits of the plan in 2018. He made it sound like there was really no risk to taking it out. Over the course of the next year+ I got hit with over R1,000 in fees. FNB charges you R4.50 incrementally whenever the spending on your card goes over R12,000 – EVEN IF YOU PAY OFF YOUR CARD AUTOMATICALLY! I never had an unpaid balance on my card, but just because my spending on the card went over R12,000 I was being charged over and over again.

When I finally realized the charges I disputed that I ever agreed to such claims. After 2.5 months of wrestling with over 20 different people, many different parts of FNB (no joke) and not 1 single word from my “private banker” FNB flat out rejected my “complaint” saying I had definitely agreed to these terms over the phone, that I had been sent the terms, and that I had read them and accepted them. I do not have any documentation of taking out this claim, and FNB has been completely unwilling to provide me any proof that I accepted these terms (not the document with the terms and my agreement of them, nor the phone call which they recorded). They now say they can’t allow me to access the recording because of COVID-19 (????).

Top Up Debt protection is a sneaky ploy to ***** your money, and then give you the run-around until you give up getting it back. Plenty of Hellopeter reviews to confirm, and FNB hasn’t done JACK b/c they know they can get away with being predatory, even to loyal and long-standing customers.

Will be looking for other banking solutions ASAP