Complaint / review / scam report
Licensed Financial Services Org operation in doubt

Please could someone contact me to explain how ABSA justifies taking out car insurance on your behalf without your knowledge or approval / signature and then simply adding this to your monthly Vehicle and Asset bill. At this point I don't even know who I'm insured with and I didn't have a say in the matter, not mentioning the fact that I'm already insured and have been since the inception of my car loan. I really don't feel comfortable to do business with a bank that deals on this basis and am objecting to this in principle. The call agent (who's been harassing me about the complaint I had logged for the last two days) keeps explaining to me it is not a problem to remove this from my bill as long as I arrange an email to proof that I have insurance.
What they don't understand is that they (ABSA) have no right to bill me for something that I didn't ask for / or needed in the first place.
Does this mean ABSA received an income of approximately R600 per registered vehicle loan client for this month? Is it even legal for a licensed Financial Services Organisation to operate in this way?
Author: CitizenCape

Offender: Absa

Country: South Africa   Region: All Country   City: National

Category: Business & Finance


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