I recently got so fed up with the crazy fees and awful customer service of ABSA that I transferred my savings to FNB. The Transfer was well in excess of half a million rand. However, to get similar rates of interest to ABSA (where I had immediate access to the funds) I was advised to transfer those funds into two accounts - one a 7 day notice account and the other a three month fixed deposit account.
I then decided I needed to draw down on the 7 day notice account to pay my rent and bills. The funds then ought then to have transferred to my Cheque/Savings Account (Not sure what they did open on that front at the end of the day as I have two cards, one saying Cheque and the other Savings, but they seem to be the same account) but nothing appeared. Desparate, I then decided to take advantage of the ability to withdraw 15% of my other fixed deposit 3 month account, which funds ought to have immediately transferred.
In short, no accessible funds have been paid into my Cheque/Savings Account, records of the requested transfers seem lost in cyberspace, and whilst FNB have somehow lost half a million rand of mine in I've got R100 left and everything is bouncing and can't pay my rent.
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