I have a Classic credit card with FNB which I have used responsibly for nearly two years.
It's set up with automatic payment, which FNB claims is a "free service" which "serves as a safety net." (from [URL Removed]
I took them at their word. Then last month, an oversight on my part left my savings account with insufficient money to cover the balance due on the card. I didn't know this until it was too late, because there's no warning from the service.
I caught the mistake myself, but the transfer finally reflected two days after the due date. As a result, I was slapped with an "unpaid automatic payment fee" of R220, as well as an arrears fee of R120, on top of the interest and service charge.
The interest is understandable. The arrears fee is clearly a punishment, but I'll accept that. It's the unpaid automatic payment fee that I find outrageous. Why do we PAY for this FREE service, the one time it's not actually doing anything?
FNB's marketing of this service strikes me as misleading, if not. There is no mention of it in the fee schedule. I expect my R220 back and no future charges for this service.
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