SM
Siliziwe M

1 reviews | Active since Jul 2014

04 May 2016, 08:18

Opening a Bank Account Like we are in the 80s

We have set up a private investment company and have tried to open a bank account with FNB. We approached Woodmead Branch on the 16th of April 2016 and our account has still not been opened (today is the 5th of May) due to endless red tape which we feel is a little shady. We do also feel that the branch representatives do not understand the banks central processes. Please help them. Here is why. At first, we tried to open a Stokvel Account as we would use it to collect contributions. This was refused because we had a (Pty) Ltd company. So we opted for a normal Transaction Account. We have all of the required documents, namely: > Company registration documents > Partnership agreement > Resolution for two directors to open an account and transact on our behalf > Proof of Residence for each director > ID copies (certified for each director) With all of this information, the branch representative told us that all of our directors still need to show up to the branch for signatures. Our application is still not on the FNB system thus we do not have a reference number. This also sounds ridiculous. Firstly, I have opened an account online and the documentation was sent to me, all directors signed and it was sent back via email (scanned). The branch reps refused us this. Secondly, if we were a major entity for example with multiple directors living in different countries, are you trying to tell me that all of them would have to show up to the Woodmead branch? Never.! It is 2016 for crying out loud. Now our company still has not traded because we do not have a bank account (we lose out on income). Perhaps the fancy branch in Woodmead is too fancy for the representatives that work there. Please sort this out now or we are moving on with our business. The rep's name is Sanesh Sewsunker.

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Replies (1)
FNB (First National Bank)
FNB (First National Bank)'s reply04 May 2016, 08:53
Official

Dear Mr Mafika,

Thank you for taking the time to bring this to our attention. We would like to apologize for any inconvenience caused.

A formal complaint has been logged on your behalf and the reference number is 916559.

Regards

Complaints Resolution

Daffnie Govender

Email address: ***

Tel number: 087 *** (option one)