Poor service

Funds were transferred into fnb on 25 June 2025 On 28 June 2025, we visited the FNB Cornubia branch to invest i into a Money Maximiser account. Consultant Joanne assisted us and informed us that the Encore account was frozen, and no transactions — including debit orders — could be processed. This caused significant distress to my bereaved sister, especially since the account was opened on 12 June 2025 and all debit orders had already been redirected to it.

FNB failed to inform us of the following:

1. That the account would be frozen or restricted due to the value of the payout.

2. That proof of payment from the insurance company would be required.

We immediately provided the necessary proof of payment, which Joanne submitted to the Fnb income verification department in our presences. She then informed us we would have to wait 72 hours for the hold to be lifted.

What added to our frustration was that no effort was made by the consultant to explain our concerns to the verification department . We were simply told to wait, without any genuine attempt to resolve the matter promptly.

Not accepting Joanne's explanation We requested to speak with the Branch Manager. We shared our concerns and disappointment to Roshnee Chetty. She reviewed the account and clarified that it was not frozen, but had a “pledge hold.” She assured us that debit orders would still be processed and that we could invest the portion of funds not under the hold.

She too made no genuine attempt to resolve the matter promptly, by calling verifications or trying to expedite it in any way but promised to escalate the matter on Monday morning, 30 June 2025, and investigate why we had not been properly informed of the process.

On Monday morning, I received a call from Joanne at 10:28 am stating that the documentation had been received by income verification and that she would follow up during the day and get back to me. At 4:00 pm, she called again with no progress and said that Carmen the consultant from verification advised her to call back only on Wednesday and informed that the hold would only be lifted on 2 July 2025.

When asked did Roshnee Chetty the Branch Manager tried to expedite in any way???????????? This service is unacceptable. Commitments were not honoured, and the follow-up lacked urgency. This entire experience has been distressing, confusing, and poorly handled. Our concerns are:

1. Lack of transparency regarding pledge holds during account setup and payout. 2. Incorrect information from Joanne that the account was frozen. 3. Emotional distress caused by poor communication and mishandling during a sensitive time. 4. Failure to expedite or escalate despite a direct request and manager involvement.

We respectfully request:

That the hold be uplifted immediately.

that all debit orders will be honoured during the pledge hold.

A clear explanation of FNB’s pledge hold policy regarding policy payouts.

That FNB urgently review its staff training and communication processes — particularly when dealing with bereaved clients.

We were not notified of any hold on the account, and this lack of communication has caused unnecessary stress. I trust that this matter will now be treated with the urgency and seriousness it deserves.