Absa
ATM Loan Deduction - Unavailable Funds

I obtained an ATM loan on the 1st of July 2013. At the ATM, it reflected that the amount would be paid in instalments. I accepted the Loan amount. The Transactions I made, sent my Account into a -. During the week of the 7th of July a Deposit was made into my Account. The moment the Deposit was made, the - Balance was Deducted off the Deposit, leaving me with an Available Balance, less the Total loan Amount. So the loan Amount was settled after I took the loan based on the fact that id be settling it on a monthly basis. Now I am unable to utilise the Amount I initially loaned. And I find this out, at month end when I needed to use the Available Balance. This is beyond deceptive and beyond frustrating, realising that I am unable to use any money I thought I had.

Company: Absa
Country: South Africa
City: ATM loans

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