ROBLEM OBTAINING CORRECT INFORMATION FROM FNB

PROBLEM OBTAINING CORRECT INFORMATION FROM FNB

{Written on behalf of my husband - JW Horn}

I wish to pay off my bond which I app**** for in the middle 90’s.

After numerous calls to different people, starting off with my personal banker, who told me to phone the Bond department. They told me I had 2 options: 1. To leave the bond open, and pay a monthly fee of approximately R50.00 per month in order to be able to apply for an advance at a later stage. I am 66 years old, and I know that no way will the bank afford me an additional loan. [The gentleman talking to me did not seem to know this fact and suggested that I go into my branch and fill in an application] 2. The next option is to close the bond completely, and pay a fee of approximately R 6000.00 in order to get the Title Deed back [He was not sure of the exact amount] I asked him if these 2 options would have been on my documents when I initially app**** for the bond 22 years ago, and he was not able to confirm this, as he didn’t know.

I then spoke to my financial advisor who informed me that there should have been a 3rd option, which is, to freeze the bond once paid off thus not incurring additional fees or interest. Is this correct? If correct, why was I not told?

So, instead of me now phoning numerous other people again, I would appreciate it if you could supply me with the name of someone in a senior position in the FNB Bond department who would answer my queries in a definite manner. I have been with this bank for over 30 years. It is sad that I cannot get the correct answers from our personal banker. If anyone from FNB who reads this complaint, would they be kind enough to give us the name of the correct person to speak to?

Joachim W Horn