Money Disappearing without any trace

I’m leaving this review to address a serious issue I’ve encountered with my account. Recently, I noticed an unexplained deduction of over R500, which isn’t showing up in my transaction history. I didn’t authorise any payments or debit orders, and this has caused a lot of concern.

As a small business owner, this has had a major negative impact on my operations. Several things have gone wrong as a result, and it’s affecting my business. But it’s not just about the money – it’s the principle of the matter. If R500 can just disappear without any record, I’m worried that even larger amounts – like R100,000 – could vanish the same way, leaving me with no way to track or dispute it.

This seems to be a breach of the Code of Banking Practice, which requires banks to provide transparency, protect against unauthorised transactions, and keep accurate transaction records. It could also be in violation of consumer protection laws under the National Credit Act and the FAIS Act, which are meant to protect consumers.

I’ve already reached out for clarification, but haven’t received a satisfactory response yet, which is really concerning.

I need this matter to be addressed urgently. If I don’t get a resolution in the next three business days, I’ll have no choice but to escalate things. I will file complaints with the Ombudsman for Banking Services, the National Consumer Commission, and the South African Reserve Bank. I will also be sharing my experience on consumer platforms and social media.

To avoid all of this, I’m requesting:

A full refund of the missing amount.

A clear explanation of what happened.

Assurance that this won’t happen again.

I hope this will be treated with the urgency it deserves, because this is more than just about the money it’s about restoring trust and accountability.