Unclaimed Funds = Bull**** Explanation

Hello

I received an SMS yesterday to say I have a positive balance on my WCC and all the funds will be processed as unclaimed funds.

I contacted the branch and received an email this morning...... Please see below.

"Dear Customer,

Unclaimed Balance Procedure in respect of your World Currency Card™

In terms of the Exchange Control Regulations (Regulation 2.5), you are required to re-sell any unutilised foreign exchange funds to an authorised dealer in foreign exchange within thirty (30) days of your return to South Africa. We notice that your Mastercard® World Currency Card™ (WCC) account still reflects a positive foreign exchange currency balance.

As per the Mastercard® World Currency Card™ Terms and Conditions, the Bank will process any positive currency balances as ‘unclaimed balances’ once your account has been inactive for a period of eighteen (18) months. The currency balance will be ‘unloaded’ from your WCC and your account will be closed. You can still claim the currency balance by contacting the Service Centre and providing your WCC details. Please note that this may be subject to FICA verification and the exchange rate will be determined at the time we make payment to you. "

What bull**** is this,

1. How do you know if I'm not still overseas? 2. Only once the account is inactive for 18 months, then it will be processed as unclaimed funds, my account has not been inactive for 18 months. 3. Was this an automated SMS send to all your clients.

If so, can you please confirm if my account is still active?

Kind regards