Absa
'Admin' and 'Management' fee

I have been banking with Absa for over ten years now. Many years ago I upgraded to a cheque account and went with internet banking.

After looking at my sms notifications last night I realized that there was a deficit of almost R1000 from the amount that was in my account. This morning I thought I need to check to see if my budgeting was off or if there was a notification that didn't go through. To my shock and horror I see that the is an 'admin' fee and a 'management' fee that comes to R773.15!!!

THEN:

I call the nearest branch and I am given the run around. Eventually when I do speak to someone and I ask WHY I was not notified by sms? I am told that this deduction does not fall under the 'notify me' service? Am I not privvy to what deductions are made off of my account and where my money goes?

Further investigation shows that this amount fluctuates from month to month by amounts varying from R200.00 to almost R800.00! What makes January cheaper than February?

I am going into the Northmead branch this morning and I want answers. I am most likely going to the bank where their tag line is: 'how can we help you? ' Everyone I know has done just that.