DG
Darshen G

1 reviews | Active since Mar 2020

02 Nov 2022, 10:52

Renewing investment

I took out a 9 month fixed deposit which matured on 1 November 2022. Instead of paying the money into my FNB bank account FNB decided to renew the fixed deposit for another 9 months. This was done without my consent. I contacted the bank and they informed me that because I did not submit any instructions for withdrawal they sent an instruction to renew. If I take out an investment that matures after 9 months - that is the term of the investment (9months) - why would I then need to further send instructions to tell them to withdraw.

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