After receiving bad service, in addition to Investec offering a better banking package and home loan interest rates, I decided to move banks.
Initial notice was given on 5th September 2012 to settle all balances and close all accounts I have with the Private Banking package. However, I continued receiving statements for both the current and credit card accounts.
In December they eventually closed the current account after repeated requests from my side. I was informed in January 2013 that a balance of R30.76 stands on the credit card, despite my request to settle all balances, and this must be paid to close the account. I duly paid the amount and requested confirmation when this was done. I received no further contact.
Recently I started receiving smses from attorneys collecting an outstanding amount on my credit card. After investigating I have found out that they have charged me a service fee since the account is still open and this has become overdue.
Needless to say, given the poor level of service, don't bother joining Private Banking. It's clear that you receive the same level of service as someone on a normal account. Rather join Investec if you are eligible.
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