CS
Colin S

1 reviews | Active since May 2018

31 Jan 2023, 16:54

Moving from FNB to INVESTEC immediately

I am writing to express my deep disappointment and frustration with the poor service that I have received from your institution. This email will also be going to the HIGHEST level of FNB management, Hello Peter My entire company has been a loyal customer of FNB since 2010 operating with more than R900m, and me personally for the last 4 years. From the 3rd of January I’ve encountered issues with the online banking system, which prevented me from sending money with the correct exchange rate. This resulted in a significant loss of money due to the fluctuation of the South African Rand against the US dollar. Additionally, when my personal banker came to our offices; I was informed that I was unable to send more than 2 million Rands due to foreign investment limitations and I was told that I needed a Tax Clearance. Therefore I was only allowed R1m which lead to penalty on the late payment .However, after four days, I was informed by FNB forex department as a foreign resident, I did not need a tax clearance to send money abroad. Due to this internal mistake of FNB it resulted in further losses because of fluctuation of the exchange rate and the penalty incurred on my overseas account. The poor service and treatment I received have left me feeling frustrated and unfairly treated by FNB. The mistakes made by FNB have resulted in significant financial losses for me, and I am requesting service recovery for these losses. I would like to request a prompt resolution of this issue, and I hope that FNB will take appropriate action to compensate me for my losses immediately. I look forward to hearing from you soon.

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