MA
Muhammadh A

1 reviews | Active since May 2014

29 Dec 2019, 16:48

FNB witholding BANK ACCOUNT AND SARS refund FOR OVER A MONTH

On the 20th of November 2019 a SARS refund was paid into my FNB business account of the 21st of November 2019 the funds have been witheld today. My partner and I have been to FNB at the East Rand Mall where our Business Banker a gentleman by the name of Lesetja Ramela sits. We were told during our first discussion with this gentleman that our funds were held by sars for verification, we accepted and asked for a contact number and email address to follow the query if necessary, we were told that there was some issue with refunds to many clients and it should be resolved within 6 days if a response from sars isnt recieved. A week later with no reponse from FNB we tried contacting the number that FNB STATED WE CALL and we had tried more than 50 times over a period of a week(this isnt an exaggeration), we had spent hours on hold with no response. We then went back to FNB requesting that we need to know whats going on as we are a large company with significant sums passing through our account and that it is currently unusable . We were given the same response from FNB that we had received during the first discussion. At this point we had contact FNB more than 8 times, gone to the branch more than 8 times and contact the number sars had requested we call close to a 100 times and visited sars 3 times, our accountant advised that on visiting SARS there is NO ISSUE, yet FNB in their own capacity are witholding what does not belong to them. It has been more than a month and a week and we have not revieved any update from the gentleman Lesetja Ramela who is our ONLY contact person. He has tried to contact FNB at the head office but he tells us the same thing EVERY TIME and it is now ridiculous and pathetic to hear that a bank such as FNB can INDEFINITELY hold funds. We are busy with our attorney for a civil case against FNB as they cannot hold funds indefinitely and further if ANY response was received by FNB from sars we have not received this response as clients. We will also be writing a letter to the Financial Ombudsman requesting clarity on how banks have atonomy over accounts when they are mere custodians of OUR MONEY and assitance in making sure that FNB stops this recurrence. This is common with FNB and has happened countless times. We are a victim of their incompetence and these banks are the reason the South African economy remains stagnant. As compassionate businessmen we had to formulate excuses to our employees as to why they were unable to be paid on time(this is due to our account being unuable and our funds on hold). While businessmen are striving to grow the economy these *********** banks are the counterproductive force stopping growth. ONCE AGAIN. IT HAS BEEN A MONTH AND A WEEK AND WE HAVE NOT RECIEVED ANY RESPONSE FROM FNB AT ALL!!!!!!!

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Replies (3)
FNB (First National Bank)
FNB (First National Bank)'s reply30 Dec 2019, 10:58
Official
Good Day 

Thank you for taking the time to bring this to our attention. We would like to apologize for any inconvenience caused.

A formal complaint has been logged on your behalf and referred to the relevant department who will provide you with feedback.

The reference number is ***NF

Regards

Hello Peter Complaints Team

***


MA
Muhammadh A's update30 Dec 2019, 16:41
Reviewer Update
This generic reponse along with a call and further waiting doesnt negate the fact the we are running a substantial enterprise with little support from the custodians of OUR MONEY. It is unreasonable and legally impermissible that this "process" has taken as long as it has. FNB can no longer withhold any funds or the use of our bank account based on an arbitrary and automatic response recieved from any government institution MORE THAN A MONTH AGO. Our matter is not being handled with urgency and the ramifications for such an oppression must be brought to light within our justice system. Replies such as the above are delay tactics employed by FNB to stay such matters publicly, they have no intention of actuall resolving their issue with haste. WE HAVE BEEN CLIENTS FOR 3 YEARS AND HAVE HAD MANY MANY MANY MILLIONS PASS THROUGH OUR PRIMARY BUSINESS ACCOUNT WITH FNB. This has been one of the most damaging experiences we have faced as a organisation from an utterly careless financial institution. IF OUR ACCOUNT ISNT RELEASED AND USABLE DURING THE EARLY BUSINESS HOURS OF BUSINESS ON THE 31st December 19. We are going to litigate FNB from the gross negligence.
MA
Muhammadh A's update30 Dec 2019, 16:54
Reviewer Update
Good Day Hello Peter Complaints Team,

I apologise, I had misconstrued your reply for that of FNB. Please ignore my statements with regard to YOUR response. We had recieved a generic response via email from FNB and my reference was with regard to that response. I apologise once again. Its the frustrations that FNB causes by alluding to their issues being solved and the throwing of multiple red herrings and verbose jargon that has angered my team and I.

Regards,