Absa
Disappointing by ABSA

I recently opened two unti trust accounts for my two children with ABSA. First of all the Platinum division could as usual not assist me. Not sure why I still bother going in there. I was then assisted very ably in the bank with opening these accounts. There is a 1.71% annual management fee on this product, which I expected to be deducted from the start. No other fees or costs are discosed on the documents. When the deposits reflected though about 4.7% was deducted. I then mailed ABSA on 1/9 to query this and received confirmation on 2/9 that a consultant would contact me within 24 hours. No response by Wednesday 4/9 so I mailed again. No response by Friday 6/9 so I mailed again. This is very disappointing from ABSA and although I realize banks do not return customer loyalty I at least expect a bit of professional service. Think twice before investing anything with ABSA as they just can't give a hoot about service after they receive your money. Their My ABSA service where investments can be managed also does not even reflect the accounts. Pity one has to resort to blasting a company online before you may get a response. Shocking In the competitive banking environment of the day.

Company: Absa
Country: South Africa
City: Unit trust

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