MK
Mpho K
1 reviews | Active since May 2011
15 Oct 2024, 09:41
item Paid no funds charged for incorrect transactions
The only way to rectify FNB errors is via hellopeter, FNB consultants advised there's nothing they can do. Again FNB charged fees(#item Paid No Funds) on my current account for transactions that did not happen on that day i.e. 24/10/2024. The only transaction I can account for is for my home loan that went through with no funds. Earlier this year I requested FNB to cancel this feature where they allow transactions to go through with zero balance. Now they reactivated without my concern. These charges appear on the 09 Oct, 10 Oct, 02 Oct, 28 Sep, 26 Sep. They total to: one thousand and four. I advise FNB customer to always check their statements every month.
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Replies (5)MK
Mpho K's updateReviewer Update
17 Oct 2024, 12:04This is the response from FNB. Customers are being cheated with their available funds.
With that being said, we are aware that at the time the transactions took place between the 06- 07 September 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
With that being said, we are aware that at the time the transactions took place between the 06- 07 September 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
If a transaction was approved, it does not mean that it was processed, the approval at the time of purchase is merely a go ahead with your trade indicator to the merchant, as at that specific time when you entered your PIN, you had available funds to trade with the merchant. Kindly be advise that the bank has no control when a transactions/purchases for payment is presented by a merchant hence we suggest that you use the Online Banking facility to see the available balance as this would be a true reflection of what is available in your account. We trust that this information provides the desired clarity. I have included the Pricing guides for 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's update17 Oct 2024, 12:04
Reviewer Update
This is the response from FNB. Customers are being cheated with their available funds.
With that being said, we are aware that at the time the transactions took place between the 06- 07 September 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
With that being said, we are aware that at the time the transactions took place between the 06- 07 September 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
If a transaction was approved, it does not mean that it was processed, the approval at the time of purchase is merely a go ahead with your trade indicator to the merchant, as at that specific time when you entered your PIN, you had available funds to trade with the merchant. Kindly be advise that the bank has no control when a transactions/purchases for payment is presented by a merchant hence we suggest that you use the Online Banking facility to see the available balance as this would be a true reflection of what is available in your account. We trust that this information provides the desired clarity. I have included the Pricing guides for 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's updateReviewer Update
17 Oct 2024, 12:07My transactions were reversed in June. But now they coming with excuses.
We have requested for a reversal of the Item Paid fees as a gesture of goodwill and as a once off and will provide an update once received. We trust that this information provides the desired clarity. I have included the Pricing guides for 2023/2024 and 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's update17 Oct 2024, 12:07
Reviewer Update
My transactions were reversed in June. But now they coming with excuses.
We have requested for a reversal of the Item Paid fees as a gesture of goodwill and as a once off and will provide an update once received. We trust that this information provides the desired clarity. I have included the Pricing guides for 2023/2024 and 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's updateReviewer Update
18 Oct 2024, 11:44This is a money making scheme, it's time I switch banks. I never had this problems when I was with STANDARD BANK. This does not make sense. I only make transactions obviously knowing my bank balance. So this means when merchant present their transactions late it's my responsibility whereas at that time I had sufficient funds?
Below is response from FNB:
Below is response from FNB:
With that being said, we are aware that at the time the transactions took place between the 21- 25 September and the 06 – 07 October 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
At the time of the purchases, there was sufficient funds in your account for the transactions, which is why it was allowed. When the merchant presented the purchases for payment, there were insufficient funds to accommodate the transactions.
If a transaction was approved, it does not mean that it was processed, the approval at the time of purchase is merely a go ahead with your trade indicator to the merchant, as at that specific time when you entered your PIN, you had available funds to trade with the merchant.
Kindly be advise that the bank has no control when a transactions/purchases for payment is presented by a merchant hence we suggest that you use the Online Banking facility to see the available balance as this would be a true reflection of what is available in your account.
Please note that with regards to your debit order we do advise that you ensure there is sufficient funds available for your debit orders on the date agreed to by you with the service provider.
We are investigating into your tolerance limit.
We trust that this information provides the desired clarity.
I have included the Pricing guides for 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's update18 Oct 2024, 11:44
Reviewer Update
This is a money making scheme, it's time I switch banks. I never had this problems when I was with STANDARD BANK. This does not make sense. I only make transactions obviously knowing my bank balance. So this means when merchant present their transactions late it's my responsibility whereas at that time I had sufficient funds?
Below is response from FNB:
Below is response from FNB:
With that being said, we are aware that at the time the transactions took place between the 21- 25 September and the 06 – 07 October 2024, you did have sufficient funds in your account, however the purchases were merely reserved and not yet processed through your account.
At the time of the purchases, there was sufficient funds in your account for the transactions, which is why it was allowed. When the merchant presented the purchases for payment, there were insufficient funds to accommodate the transactions.
If a transaction was approved, it does not mean that it was processed, the approval at the time of purchase is merely a go ahead with your trade indicator to the merchant, as at that specific time when you entered your PIN, you had available funds to trade with the merchant.
Kindly be advise that the bank has no control when a transactions/purchases for payment is presented by a merchant hence we suggest that you use the Online Banking facility to see the available balance as this would be a true reflection of what is available in your account.
Please note that with regards to your debit order we do advise that you ensure there is sufficient funds available for your debit orders on the date agreed to by you with the service provider.
We are investigating into your tolerance limit.
We trust that this information provides the desired clarity.
I have included the Pricing guides for 2024/2025.
Yours sincerely,
Shalini Govender
FNB Personal & Private Service Recovery
MK
Mpho K's updateReviewer Update
18 Oct 2024, 12:30When you reserve after I transacted, you still take my money meaning you reserved those funds to settle the funds when a merchant present them at that particular time. So your interpretation is poor. Why the bank balance adjust when I transact? Please explain this part?
MK
Mpho K's update18 Oct 2024, 12:30
Reviewer Update
When you reserve after I transacted, you still take my money meaning you reserved those funds to settle the funds when a merchant present them at that particular time. So your interpretation is poor. Why the bank balance adjust when I transact? Please explain this part?
MK
Mpho K's updateReviewer Update
25 Nov 2024, 09:35This has not been resolved. Every month I face this issue. I always make my transactions with available funds in my account and still FNB *****s my money. Anyway I'm on my way out of this...
MK
Mpho K's update25 Nov 2024, 09:35
Reviewer Update
This has not been resolved. Every month I face this issue. I always make my transactions with available funds in my account and still FNB *****s my money. Anyway I'm on my way out of this...