May 31st I obtain a Cash passport from FNB menlyn branch,
for some reason my local account was credited with a foreign exchange transaction in error which was not done by me.
The following Monday 03/06/2013 with out my consultation, the above mentioned consultant emails me say 'Please be advised that a reversal will be done and the funds will be debited of your account"
I replied to her email asking her on what ground does a banking institution have in debiting ones account without the account holders permission? Based on the Financial Services Board regulations?
I asked if this is a practice that is legal and done by FNB? and if so, why is it that when i transfer money into the wrong account and inform the bank to make a reversal, their unable to do such as they would need the owner of the account to authorize the reversal. Does the bank not need my authorization to revers their funds?
If not then when i'm able to prove that I paid the fund into the wrong account i should also be able to ask them to do as they do when their the ones making the mistake.
I have no claim over these funds and would of gladly authorized the reversal if I was asked to do so accordingly
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