Nowadays a Client has to investigate and provide Bureau information to a Banker/Bank

Email written to the CEO of FNB - some parts have been omitted!

I decided to bank with FNB and a few months later was offered the option to upgrade to Private Banking - as per banking criteria, this option would not be available if I was not in good standing. Being in hospital for 2 years with NO INCOME...I don't think I need to elaborate on the consequences thereof. I was then being offered several short term loans - getting back on your feet from zero rands is not easy! Yes, I accepted the loans as I needed it, thinking my payment history would build my credibility with the bank. After a few short term loans - I contacted the Banker asking for a manual motivation for a larger loan over a longer period - each time I approached her, I was told I have a bad credit record at the Bureau ( Transunion ). I advised her that providing several short loans with a repayment of almost R 3000.00 is setting some up for failure.

Knowing that my score was improving on a monthly basis and receiving notifications from Credit Score and other finance houses - I then app**** constantly for FNB products in the hope that its approved - unfortunately, this reduces the score. On checking NAV...I noticed the notorious account reflecting there which shows that this information is obtained from Experian.

After approaching the banker, I was now told I had bounced debit orders, FNB loans not paid however she was unable to provide proof of same. In February 23' I checked with the bureau ( Transunion as advised by the Banker ) - everything was in order - informed Banker of same. By this time, I believe she was on maternity and another Banker was assigned to handle the matter. This Banker advised that FNB uses Experian, I then approached Experian and received a report - no current defaults were reported. After sending the report and FNB "investigated", she came back saying FNB uses Compuscan. The rat race begins...I find out that Experian and Compuscan merged back in 2019. She also stated I was declined due to affordability.

By this time I was irate - and asked the Banker to forward me requirements to have the account closed and put it in writing - it clearly was no skin of her back and she obliged with no hesitation - I completely forgot that we live in a time that values & relationship building is almost non existent.

I sent an email dated 23.02.2023, which is on this email trail - later that day, I received a call from Ms. Sylvia Isaacs who from my end, understood my issues. She took the time to understand, explain and motivate - clearly making an effort to not lose a client. I would say she acted in the most professional manner to appease an irate Client. After hearing what I had to say - she approached Credit who still declined on various reasons :

1. A Maravedi account that FNB says is open and is in arrears - this account was closed in March 22' - it clearly states "C" and "NU" thereafter. According to FNB, this account was re-opened as it reflects "NU". I then asked... why does FNB CLOSED accounts also state "C" and "NU" thereafter - the response was "this is a FNB account and we can investigate on our side". That is not how ITC operates, and even if they did...then FNB has not done their part as other Credit Providers will read it the same way. This reason is not acceptable.

2. If my credit history was in a bad state....how was I offered an upgrade?

3. FNB on various occasions stated I defaulted with payments and had bounced debits, I requested information on this and this is the response "The 2 bounced debit orders happened in the last year so even if we cannot trace the exact details of these debit orders it does not mean they did not bounce. I also picked up that they happened early last year." - There is no way that a bank cannot trace bounced debits or defaults on payments, especially for in-house products.

4. How is a Banker or Bank not aware of the merge between Experian and Compuscan and sends the Client on a rat race, having to provide links and articles about the merge? ' 5. I have a huge debate about this - my validated income is my salary. Totally understand this! However, I mentioned above the "titles" I have - clearly there are roles and responsibilities - apart from my salary that is deposited into the account...I have the caretakers income, my spouse's portion/s as well as income from home sales. IF FNB takes every single expense into consideration, why are they NOT taking into account ALL deposits made into the account? There is no logical explanation to this! From my point of view there is no common sense app**** here. Telling me that the additional income varies from month to month, is not enough. In normal cases and yes, I KNOW this happens...with a case like this, a 6 month or 12 month income is noted, divided by the months to obtain an average. I advised that I am responsible to purchase anything the complex requires, pool or garden maintenance, etc...FNB states these are my expenses...understood. If you classify this as "my expenses" payments coming into my account would then belong to me...that is logic and common sense.

6. When a client constantly advised you that there is an error and you need to investigate the profile as bureau information does not tie up with FNB's information....was the onus not on the Banker to investigate? At that point - if this was done, several applications would not have been made, resulting in lowering my score! Had the proper investigation been done - it would have not escalated to Ms. Sylvia Isaacs and certainly not here with this email.

7. After me disputing FNB's calculations - I was asked to make notes on transactions so that the account could be understood - yesterday I sat with 7 months of statements, feeling like a *********! - I highlighted and colour coded all income and expenses...this took me almost 4 hours - not on one given month was my account in a minus! Even after providing this, FNB still declined based on debt management, account conduct and affordability.

I cannot believe that nobody at FNB was able to close this matter reasonably - but now focusing on the end result and failing to understand the part they had in this. Failing to understand that they never provided updates to the bureau and ALL my accounts at that time reflected as opened and owing - showing other creditors, I was over indebted - and yes, this was reported to FNB - I should have a case number somewhere.

After the response yesterday from Sylvia, I requested for my account to be downgraded and I requested for proof of bounced orders - I still await this. I also mentioned that my account should not be closed just yet - I need to inform many payees about the change in bank details.

FNB's core values..."pride, accountability, innovation, Ubuntu and respect"....now become questionable - I am just 1 individual that fought this until the end. How many other Clients are overlooked and account closures just welcomed?

I completely understand that the loss of 1 client would not even put a dent in your current standing, however if 1000 clients have similar experiences and you are not made aware of it, this can be detrimental to the Institution.