1 reviews | Active since May 2009
Improper financial advise, FAIS violation!
So, i opened a Business gold account for my startup. Without knowing that its not suited to my needs (Sole proprietorship). Unfortunately, due to my business being so new and for a specific niche, its not doing as well as i hoped. Which resulted in sales trickling in and occasionally not making any income at all to cover the monthly account fees. I was sent SMS's reminding me to make a deposit and in the beginning of this month (Dec) a customer requested my banking details to make a deposit and when i logged into my banking app, my account has been removed (Cancelled) without anyone notifying me of this. An account that is linked to my website payment portals. NO COMMUNICATION AT ALL. later that day, i get 2 more messages that I have been handed over to SDK Attorneys????? I've since opened a new bank account (First Business Zero) which is way better suited to my needs. I'm willing to give you another shot but i must say, you've left a bitter taste in my mouth and made me realize that you are all about your bottom-line and customers are just numbers. I have a suggestion though, in light of providing proper financial advise to your clients: When you let normal people apply for bank accounts online, and they specify that its a new business and a sole proprietorship, your website should immediately recommend the best option for that potential client. That's proper financial advise as mandated by FAIS. I've been disadvantaged by your organization and now i pay the price.
