KN
Kobus N

1 reviews | Active since Nov 2018

26 Nov 2018, 23:21

Forex transfer gone bad

I bought an item online and only wanted to find out what the costs would be to transfer the money from my FNB account to the overseas account. After I completed the required information on the FNB app, the last action was to request a quotation. Next thing I saw was the funds leaving my account the next day, including fees and commisions. I was never contacted to get the go ahead for this.

I would have been ok with this if it was the end of my troubles but then I found out that €15 was still short because of transfer fees on the receiver's side. I probably would've known this if I received a quotation. Now I had to pay another R265 to transfer the missing R260 rand? Instead I went to a Moneygram outlet who only charged me €2.50 to transfer €15.

In the end I paid R1600 for an item which could've cost me only R780 all inclusive. To make matters even worse is that I might not receive the item before I leave Germany at the end of the week, because of all the confusion. Please check your processes to prevent this kind of situation. I'm sure it isn't normal to continue with a payment if the quotation hasn't been accepted yet.

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Replies (1)
FNB (First National Bank)
FNB (First National Bank)'s reply27 Nov 2018, 09:37
Official
Good day Kobus Nortje, 

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 FNB Forex who will investigate and provide you with feedback.

The reference number is ***NF.

Regards 

Hello Peter Complaints Team

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