Urgent Rectification Required: Unauthorised Policies and Incomplete Refund – Edgars Account

Dear Sir/Madam,

I am writing on behalf of my mother-in-law regarding a serious issue on her Edgars account, managed by RCS. We have identified a series of unauthorized insurance policies that were added to her account without her knowledge or consent. This matter was reported to Edgars, and an investigation confirmed that these policies were indeed unauthorized.

Key facts of the matter:

The insurance provider, IUA, refunded the full amount of R22,716.03 in relation to the unauthorized policies.

RCS has, however, only refunded R15,157.96, withholding the remaining R7,558.07.

RCS has claimed this withheld amount was used to settle the outstanding balance on the account. However, this "balance" consists entirely, of the monthly premiums from these unauthorized policies.

For nearly two years, my mother-in-law was unable to make purchases on her Edgars account. Every payment made was immediately absorbed to cover these *****ulent policy charges, rendering her account functionally unusable.

This situation has not only caused financial distress but also emotional stress, especially as the unauthorized deductions continued for an extended period, despite her repeated efforts to resolve the matter.

We respectfully request the immediate reimbur*****t of the outstanding R7,558.07, as it forms part of the original *****ulent deductions that IUA has rightfully acknowledged and refunded.

If this issue is not fully resolved within 7 business days, we will proceed with the following:

Engage our legal counsel, with whom we have already consulted.

Lodge formal complaints with the National Credit Regulator (NCR) and FAIS Ombudsman, citing RCS and Edgars for non-compliance and poor conduct.

Explore further remedies available under the Consumer Protection Act and National Credit Act.

Please treat this matter with the urgency it requires. We expect written confirmation of receipt of this message and your intended course of action without delay.

I Maruschka has Power of Attorney to handle this matter. I have emailed the relevant documentation to RCS refunds department.