First National Bank
Penalty interest levied

I was busy on the online banking when I checked details on my personal premier banking account. I noticed that my overdraft interest rate had been increased by 9, 5% to 20%. I had received no notification or correspondence to this effect. I checked with the premier banker who says this is a penalty for the following reasons. Occassions where the limit was exceeded and usage of the facility.. I have a business account with FNB and have debit orders going off here. On 2 occassions miscalculated a debit order going off my personal account. The matter was rectified same day. I am in the transport industry and have had a terrible time over July to November with transport and mining strikes forcing me to fully use my facilities. However through this whole period no payment or agreement was not met. I have a home loan with FNB for the last 7 years with never a payment missed, I have a credit card since 1976 (37 Years) they have never had to call for payment or send notices right till date. My accounts have never had an RD. As a matter of fact since starting work in 1975 I have never had an RD why now a penalty such as this. In a period where I needed my bank they choose to take from me