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Evon N

1 reviews | Active since Nov 2016

25 Aug 2020, 08:47

Reversal of funds

Money was transferred from an FNB account to a Standard Bank account using the incorrect banking details. The funds did not go into any account as the account number was missing a digit. It was queried with Standard bank and I was assured that the funds will be returned to FNB. I consulted with FNB and was told that the funds would be returned to the account that it was sent from within 7 days of 8t being returned. It was returned after 3 days to an FNB bucket account. I was then told to submit a reversal request to get the funds back at a cost of R326. I did this. I did not receive any feedback. I had to email them for an update. I was given the response that the transaction was unable to be processed due to the account number being wrong for the payment of the R326. I have checked all the details. The account number is correct but the branch code was incorrect. I am sure that this should not matter as FNB usually uses a universal branch code as long as the account number is correct. I will now have to start the process all over again. And I would not have known this had I not emailed them to find out. My question is, should this money not have been returned to the sender without a recall and reversal completion as it was never deposited into another account and it was returned to the senders bank within 3 to 5 days. Should this money not automatically go back to the sender like I was told it would.

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Replies (1)
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Evon N's update27 Aug 2020, 16:09
Reviewer Update
Thank you for contacting me and proving that FNB does not listen to their customer. With reference to the problem above, firstly I was told that the account number was incorrect. It was not incorrect. I have explained via email and phone more than 6 times that this funds have been returned to the FNB bucket account. I have received an email today saying that FNB could not get the money back from Standard Bank because there were insufficient funds in the account. How is this possible when the account number used does not exist. THE ACCOUNT NUMBER FOR THE STANDARD BANK ACCOUNT IS MISSING A DIGIT. SO THERE IS NO WAY POSSIBLE FOR FNB TO HAVE GOTTEN ANY MONEY FROM THAT ACCOUNT. THE MONEY WAS RETURNED TO FNB 9N THE 7TH OF AUGUST. IT IS IN YOUR BUCKET ACCOUNT. PLEASE CHECK YOUR BUCKET ACCOUNT. I am the holder of the Standard Bank account and nobody from FNB has attempted to contact me.
I expect this to be done by tomorrow as this is the 10 working days required to solve your queries and I have given you the information many times. If only you would listen to your customers. I am now taking this matter up with the banking ombudsman as my money has been sitting in the FNB bucket account since the 7th of August.