Complaint Regarding ABSA Home Loans and Insurance

I am deeply disappointed with the service I’ve received from ABSA regarding my home loan and insurance. My access to the flexi savings account has been blocked without any prior communication, leaving me frustrated and inconvenienced.

For the past three weeks, I have been sent from pillar to post in an effort to unblock my funds. Initially, I was informed that the issue was due to my failure to submit my insurance policy schedule. However, I submitted the required document weeks ago and received no acknowledgment or response.

When I try to follow up, I am left on hold for hours with no resolution. Today, I finally received feedback regarding the vetting process—feedback that was never communicated until now. Instead of engaging with me to address any issues, ABSA rushed to block my account.

The latest feedback requires me to update my insurance coverage to an amount over 226% higher than my current cover, which has been in place for years. This figure is based on ABSA’s desktop evaluation, which I do not agree with.

I urgently request that my funds from the flexi account be released without further delays. Those funds have nothing to do with the home loan; I was using the flexi account to save my money for use in case of emergencies and ABSA does not want to release it . ABSA’s lack of communication and inefficient handling of this matter is unacceptable.