First National Bank
FNB please can we have access to OUR money

Foreign Letter of Credit was established and the funds R900k are put on hold in our MoneyMarket account. The Letter of credit is paid a few weeks later OUT OF OUR CHEQUE ACCOUNT (apparently there is no other way to do this!) So we end up with an overdrawn cheque account and we cannot make a payment at all, while the funds ARE STILL ON HOLD IN OUR MONEYMARKET ACCOUNT SO WE CAN'T TRANSFER. WHY CAN'T THE HOLD BE TAKEN OFF AUTOMATICALLY WHEN THE FUNDS COME OFF!!! Why should we have to beg to get OUR money released!!! Surely there is another option to avoid this BUT no one at FNB seems to have one for us. Maybe we should use another bank to establish L/C's so that our FNB cheque account remains unaffected. Last year we paid them in excess of R165000 in bank charges... maybe some other bank should rather be getting that! I can't make a refund to a customer since yesterday at 15h30 because they haven't released the funds. It's now 9h45 and still nothing!!!

Company: First National Bank
Country: South Africa
City: CREDIT DIVISION L/C

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