After going through my debit orders this month, I discovered that my monthly Absa Vehicle Finance instalments had suddenly increased significantly. After further investigation I was told by Absa that they had included an insurance premium on my instalment. When asked how and why, they explained that I was requested to send my proof on insurance previously as they did not have this on record (which I found odd as you cannot drive a car off a showroom floor without having insurance in place). And since they did not receive said proof of insurance, they proceeded to include this in my monthly instalment. Authorised by whom??? How can Absa deduct funds off my account without any notification but worse AUTHORISATION from myself? And now its costing me time and money in phone calls to sort this out and I still have no confirmation of when this money will be refunded to me. AGAIN Absa has shown why I moved to FNB. Absa is possibly the worst financial institution to deal with (had previous encounters of this nature which made me decide to switch banks). So now I wait with baited breath to see what happens next - probably another 100 phone calls and emails... before anything is resolve
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