I have been an ABSA client for 36 years. In Dec 12 I went to ABSA Hatfield and requested them to load my Stanlib Money Market acc. as a beneficiary on my ABSA cheque acc. The following day I made an ATM transfer of R30, 000.00 from ABSA to Stanlib using the newly loaded beneficiary. In Jan 13 I applied for a Repurchase at Stanlib. They informed my funds were insufficient. On further investigation they confirmed that ABSA had loaded the beneficiary details incorrectly by neglecting to add the last digit; resulting in an invalid, non-existent acc. no. This resulted in my R30, 000.00 never being transferred to Stanlib. It transpired that, unbeknown to me, a digit was systematically added to the invalid account number loaded by ABSA, thereby creating a valid Std Bank acc. no. My R30, 000.00 was transferred to this random account, without my knowledge. This random Std Bank client had spent R8, 510.00. Std Bank retrieved the balance of R21, 490.00 and refunded me. Std Bank referred me back to ABSA for help. I contacted the ABSA Branch Manager, Mr Crosson. He merely emailed me the document which I signed in good faith at the time of loading the beneficiary and said he could not assist me.
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