1 reviews | Active since Jul 2019
ABSA: #Your story matters - NOT!
Having survived a near fatal accident, I submitted a temporary disability claim with ABSA bank. Following up after two weeks to confirm that no other documents are required, ABSA at first claimed they did not receive my claim. Then several more weeks of following up after being promised repeatedly "only two more weeks" I had to wait two months before receiving a payment. After subsequent retrenchment due to my injuries, I tried to find suitable work that could accommodate me while I recover but was not successful.
Submitting a retrenchment claim was supposed to be my lifeline, covering my loan payments and receiving a small amount of money to buy basic groceries into my credit card never realized. Instead, ABSA took four months to process my claim, failing to provide ANY communication. Only promises of "we will get back to you in five days".
I am still awaiting payment of the outstanding amounts and will now have to resort to legal action. My negative credit record due to ABSA's failure to honor the payments of my Credit Life prevents me from securing a rental agreement, putting me out on the street. The overdue payments could have covered much needed rehabilitation. And the list goes on.
This is the story that ABSA wishes not to tell. ABSA's failure to treat their clients with dignity and respect is evident in the fact that complaints lodged are not even responded to. "We will respond in two days." Just another lie!
I now understand that the convenience of an insurance policy with a bank that has been loyally supported for generations was the wrong choice. It is time for change. I am looking forward to Revolut to enter the South African market. https://businesstech.co.za/news/banking/838291/major-international-bank-heading-to-south-africa/
After reporting the matter to the Bank Ombudsman, ABSA took nearly 10 months to provide proof of payments that were made, delaying the process on purpose. An offer of R1500 was made when the outstanding amount was in excess of R14000.
The Ombudsman's recommendation was to pay the outstanding months (two months on my loans and four months on the credit card. Two weeks ago, I received an email stating that ABSA will not be making any more payments. It is clear that ABSA is of the opinion that they do not have to honor an instruction from the Ombudsman and is of the legal opinion that when they delay the processing of a claim (evidence submitted and confirmed by the Ombudsman) the effective date of payment will only kick in once they "feel like" completing the claim.
My story might not matter to ABSA, however the fact that ABSA is comfortable with delaying the processing of a valid claim should be made known to all ABSA clients as there are other insurance companies out there that will honor the agreement of covering a claim from the effective date in the event that the claim is submitted in full and at the earliest convenience.
To date, ABSA still has not responded to my email correspondence, including this one from Russel Edwards. It has been four working days.
I have evidence of ABSA sending email correspondence between themselves instead of responding to my inquiry of what is going on in my accounts. If you have credit life insurance, consider getting a quote from a reputable insurance company. While you are at it, consider moving your credit or loans to another provider. You might be amazed to find out that you qualify for a reduced rate or even smaller monthly payments, making it possible to reduce your debt even faster.
To date, ABSA still has not responded to my email correspondence, including this one from Russel Edwards. It has been four working days.
I have evidence of ABSA sending email correspondence between themselves instead of responding to my inquiry of what is going on in my accounts. If you have credit life insurance, consider getting a quote from a reputable insurance company. While you are at it, consider moving your credit or loans to another provider. You might be amazed to find out that you qualify for a reduced rate or even smaller monthly payments, making it possible to reduce your debt even faster.