I DON'T TRUST THE BANK TO SEND MY FUNDS TO THE CORRECT SPECIFIED ACCOUNTS

I made a transaction to a linked account which has been in use for a while, however on the 2nd of September 2022 when I did a payment to the same linked account, the system reported the transaction as failed on my side, however the funds were not returned back into my account.

A few days later when the funds still did not I contacted Internet banking who informed me that the funds seemed to have been sent to another account of which it was clearly what I did not instruct and the system showed this fact. I was then requested to report to Farud Department who further confirmed the same fact and even gave me the name of the account holder. I was then advised to fill in a reversal form of which after i read, it imp**** that I must have been the one who accidentally send the funds to the wrong account and that they would charge me to reverse and there was no guarantee to the reversal. I refused to fill in this form as this was not the case with me, as I didn't send to the wrong account, their system FNB did! Upon further engagement, they then telephonically acknowledged this fact and said they will launch a claim for my fee of R350 to be returned back to me once the process is done. So I was convinced to fill in the form as THIS WAS THE ONLY WAY they said.

The process should usually take 10 working days, however after 20 days I was not engaged till I did follow ups and then an Email was sent to me saying that the account holder into which the funds went to REFUSED TO RETURN THE FUNDS and that was it for me. To add wood to the fire, the bank still charges me for the transaction.

So now, I have lost my original funds, I received another fee on top of that and now I am worse off than I was before....EACH TIME I MAKE A TRANSACTION FROM MY ACCOUNTS, I AM ALWAYS FEARFUL THAT THEY WILL BE SENT TO A WRONG ACCOUNT AGAIN!

And well, the bank doesn't care... I am currently looking for a better alternative, if anyone would help!

We trust banks to keep our money safe, when the bank is negligent and funds are lost it is expected that the bank would take responsibility and refund what has been wrongfully taken, however in my part, the bank refuses to take responsibility.