MY BUSINESS DESTROYED BY MY BANK

My experience with FNB has been the most shocking for me. As I speak at this very moment, not only have they completely ignored my plight to unblock my business bank account because of factors outside my control, but they have gone silent on me. In total, my expected income this month has been destroyed. I have had to phone all my clients locally and abroad to not pay into our FNB account due to them blocking my accounts.

I run a start up and I have been in business for 2 years. I opened my bank account with FNB and I have had this account for more than 2 years now. It has been a great challenge both as a woman and as a new business owner to get to where i am. Its not easy running a small business but steadily I have been making steady strides and getting work here and there.

On the 6th of October, One of my potential clients from the UK made a forex payment into my business account. We had been negotiating a contract for us to redevelop their site for weeks and when he finally made payment, I was not made aware of it by him or his company. Soon afterwards, I got a call from FNB ***** department. They proceeded to ask my questions related to the funds, since I was not aware that my client had paid these funds, I tried to the best of my ability to give the consultant the best knowledge I had at that time as to who paid these funds into my business account.

The consultant was not satisfied with the answers I had given him. He declared that the funds were suspicious since the client had not claimed the funds were for web development services and therefore he proceeded to immediately block my business account. He instructed me to send him an invoice to prove that indeed this was payment for services to my company, and that I should also report to my local branch to verify my account ownership. Mind you while he was telling me this, he was being arrogant and rude with an attitude. This was shocking to me simply because even if the client did not specify correctly what the funds were for, they had no right to block my account in which we receive payments from all our clients.

When I reported to my local FNB branch in Plumstead , the bank manager called the ***** department consultant and informed him that them blocking my account was unnecessary and that they are not sure what actions the branch must take. At this time, it was already the second day, my accounts still blocked and matters still unresolved. Even after sending them the invoice, they did nothing. What aches me the most is the fact that this is not our first time getting paid by clients overseas and now they treat me like a ******** of some money laundering scheme. By the first week, my business had come to a stand still with not even a single rand coming into the account due to the blockade.

After days of constant calling and emailing the bank, another consultant called to inform me that there is an investigation still happening and that I should send them the invoice in question. This was ABSURD and unbelievable that after a week of my business account being blocked, a new consultant is put to the case and they ask me for an invoice that has already been sent multiple times.

I have never ever been treated like this by any organization and this coming from a bank that claims to support small business is indeed shocking to me but a valuable lesson. I have consulted with my legal adviser and I have been advised to cease all communications with the bank for now. I have moved to a new bank which accommodated me, heard my story and sympathized with my situation.

I am done with FNB and I will make sure I tell my story in the best way I know how. My success will be testament to how I overcome the biggest obstacle (FNB BANK).