Punished for Settling a Loan

Over the weekend I decided to settle a personal loan that I had with FNB. I looked up the official settlement amount and transferred the amount to the account.

Today I receive a notification that I was debited for the personal loan. Now I'm in a situation where there's a large amount of cash in a personal loan account that's already been settled.

I decided that I would quickly go to a branch over lunch to get it sorted, I mean how big of a deal could it be? I get to the branch and the lady puts me on a phone because an actual person at the bank cannot assist with the matter. After 12 minutes of waiting on the phone and listing to the same music and voice prompts over-and-over again I decide to leave it as I don't have time to waste on a phone in a bank, about a bank matter.

Later that day I search for the loan department's number via Google and gave them another call. Once again I waited about 10 minutes before someone become available.

I explain the matter to the person who informed me that I should have notified the bank 10 days before settling the amount. That or I should have called the bank. I told him that FNB should have notified me that this is the very unintuitive and inconvenient procedure expected of me when settling a loan with them.

I would just like to take a minute here to remind everyone that this is 2018 and FNB is suppose to be pushing innovation, simplicity and ease of access/use when it comes to all things bank. This clearly isn't the case looking at this part of their business. I mean, how hard can it be to have someone settle a loan payment and for it to then just be settled?

Instead of FNB just making it as simple and easy as some of their other services/products they disrupt their clients day, overload their call centres and disappoint people with very inconvenient conclusions.

To continue where I left off. I then was informed that I would only have access to the money after 5 days! So now I am being punished because, firstly I settled a loan and secondly, FNB just can't process a loan settlement as quickly as they can take your money for their services. It's ridiculous! Again, I was planning to put that money towards my car payment and now it's not available!? So now it's conveniently not FNB's problem anymore, but mine.

On that bad service note, I cannot remember when last someone actually responded to a message I sent via the online banking portal and I have a Premier account. Not sure what I'm paying for...

I just want to share that the disappointment is building FNB. I've already started to keep my eyes open for a potential move. Many banks are doing very exciting stuff and it's easier than ever to move. Clients are not tied to bad service anymore - you need to get your act together.

I do not think it's fair that I have to wait 5 days for my money. I would like someone from FNB to un-punish me. I do not appreciate being penalised for settling loans!