First National Bank
Overdraft interest hiked after account upgrade!

I recently upgraded my cheque account from Gold to Platinum. I noticed that after the upgrade my debit interest rate on my overdraft was over 20% which I am sure is higher than it was before I upgraded! My husband has a gold cheque account with an overdraft interest of 14% - I've told him not to upgrade! When I phoned the call centre to get some answers I was sent from pillar to post and back again. The only response I got was that the system calculates the interest rate for each account based on the credit record of the individual so it must be correct. I have a pristine credit record and have been with FNB for a few years now so I have no idea why the overdraft interest rate was increased when I upgraded! Very unhappy customer.

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

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