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Claudio C

1 reviews | Active since Jul 2023

11 Jan 2016, 09:54

Unable to open business account after 6 months

I am a foreign investor from Italy and have a registered company in South Africa. I was able to open a personal bank account with FNB in a matter of 1 day yet opening a business account seems to be beyond their abilities. The process started over 6 months ago and the account was opened allegedly in June 2015. I am still unable to use the account as it is not activated. FNB Business Banking do not communicate with me, the client & investor, and it takes me physical visits to a branch to find out what is going on. Every time, they simply request me to resend documents that I have sent numerous times. Documents go missing between the Willowbridge branch and Business Banking in Jhb, or they request documents for company members with less than 25% shares. And so it goes on and on. Always another document missing yet they never inform me directly. And I can never speak to a business banker face-to-face: they do not exist. <br> How are foreign investors supposed to trade in South Africa if this is how your banks treat us? <br> This has been escalated by the Willowbridge branch to CEO level apparently but still no resolution.

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Replies (1)
FNB (First National Bank)
FNB (First National Bank)'s reply11 Jan 2016, 10:01
Official
Hello FinMasters,

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

A formal complaint has been logged on your behalf and referred to the relevant department who will provide you with feedback.

The reference number is 845978.

Regards
Complaints Resolution
Amukelani Ngobeni-Chauke
Email address: ***
Tel number: *** (option one)