First National Bank
FNB delays insurance cancellations for Outsurance

I applied for a cancellation of my structural cover with Outsurance for my property, through FNB. Due to the fact that the property still has a bond, the paperwork has to be processed by the bank to have the old policy cancelled and the new one put in place. I submitted the required paperwork to the bank on 18/01/2013. They subsequently called me after to ask for the new policy schedule which I then sent.

I called them on 4/02/2013 and was told that they had received all the documentation on 23/01/2013 and that it will be approximately 7 working days to process this. Today is 14/02/2013 and approximately 16 working days and it is still not resolved.

FNB are in no hurry to cancel any policies as they own a major stake in outsurance so they just string you along. When they judged you as the most innovative bank in the world, they also should have looked at customer service for which you would have failed miserably..

Company: First National Bank
Country: South Africa
City: Home Loans

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