My kids opened an account with ABSA in December last year. We read through their list of charges and according to this document there are no charges for the MegaU kids accounts.
They did not receive any statements so we eventually got a statement by activating internet banking for their accounts. What we discovered was shocking!! ABSA had deducted R21.95 every month for internet banking fee. Even when we did not use this facility until 2 weeks ago to access the statements. There is absolutely no reference to a internet banking fee of R21.95 on the list of fees I received.
We had to go back to the branch to have my son's moneybuilder account re-opened [the one we opened in December had been closed] I then inquired about the charge and the gentleman who assisted us seemed surprised when I mentioned this charge and said he would inquire for us. We have not heard back anything as yet!! Can you imagine the disappointment of my 12 year old, when she saw that her hard earned and saved money [or so she thought] has been reduced by R21.95 a month with an interest of 1c or maximum 2c!!! Maybe we should be turning back to the stone-age and keep our money under the mattress!
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