First National Bank
LOSING R4100 DUE TO POOR SYSTEM CONTROLS AND

A used an FNB ATM to deposit a cheq into my account for a PS3 I sold The money reflected got the notification, saw my mobile app balance increase, gave the goods to the deliver person, and the deal was done. Three days later, the amount is still sitting in my balance, but unavailable. Apparently it was a cheque deposit which needed 7 day clearance. Why would FNB tell me money was in my account, and increase my balance, resulting in me letting my goods go, when in actual fact there is no guarentee that I will get that amount. Phoned the bank on the 3rd business day, they told me not to worry, they 100% sure the money will be available on Saturday, after 7 day clearance period. Next day, I get an sms to say transaction failed, R4100 reversed, plus my remaining entire balance withheld so I can't use any cash. Had to phone in again tell them to release it, cost me R80. I made a loss due to reliance on FNB system notification, thinking that if they tell you money is in your account, you can be sure it is. How can you let deposit cheques at ATMS which will bounce, meanwhile clients think they got the money because of notifications. I want compensation for my loss.

Company: First National Bank
Country: South Africa
City: South Africa

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