DD
Denzel D

1 reviews | Active since Feb 2019

25 Feb 2019, 12:27

The new app is horrible and causes one to lose out on money

The new Online Banking application is poor. In the past I could open fixed deposit accounts with ease online. With the new app, there are extra steps like verifying my phone number. Before the update one could open fixed deposit accounts of amounts over R500 000, and you could select the maturity date in months or select any date you wish. After the update, one can only create a fixed deposit account with a maximum amount of R500 000 and you are forced to select periods that are multiples of one month, so one no longer has the flexibility to select any date for maturity. The new design is very poor. FNB still advertises different interest rates for fixed deposits of amounts between R500 000 and R999 999, amounts between R1000 000 and R4 999 999, and amounts above that. What the new app allows and what FNB advertises is conflicting. This is false advertising. With the new app, if one wants to invest R1million, then you are forced to split it into two investments of R500 000 and therefore lose out on the higher interest rate offered for values of R1million. Can you please bring back options and flexibility? Upgrades should bring improvements, not destroy things that work perfectly well.

Please offer what you have before and still advertise. And please bring back flexibility in choosing maturity dates for fixed deposits.

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Replies (2)
DD
Denzel D's update25 Feb 2019, 13:05
Reviewer Update
It is also interesting that, after I used to open Fixed Deposits with the older version of Online Banking, I was prompted to give a rating and write a review of my experience. I always clicked 5 stars and didn't bother writing anything because it worked so well. However, when I opened two fixed deposit accounts this morning (because I was forced by the app to split the value), I was not prompted to rate my experience. I think FNB are aware that their new app is a disappointment for customers, who are the ones that matter when it comes to the app, and are just forcing it upon customers anyway. Why this kind of tactic?
FNB (First National Bank)
FNB (First National Bank)'s reply25 Feb 2019, 14:00
Official
Good Day, 

Thank you for taking the time to bring this to our attention. We would like to sincerely apologize for all the inconvenience caused. 

A follow up complaint has been re logged on your behalf and referred to the relevant department with ref :  ***NF who will investigate and provide you with feedback. 

Kind Regards, 
Hello Peter Complaints Team 
*** (option one)