Absa
Illogical bureaucracy

I am with Absa for many years - holds Platinum status and has an impeccable financial record. Current debt - a house loan R220 000 and vehicle with Absa. I recently applied to simply increase my home loan with a mere R80 000 to perform some standard maintenance. The loan was granted within 24 hours.
Unfortunately I have been trying for almost a month to get the money transferred. Apart from unnecessary delays by the official at homeloans - every time I queried the delay I was told to submit approved plans. This despite the loan was required for basic renovations not requiring any prior approvals. This still was not good enough and I had to then negotiate with another valuer to convince them what I need the money for. This became such a issue that my personal bank manager (who by the way - always were extremely professional and helpful) apologised for her banks blunders and offered me a personal loan without any pre-conditions. This simply does not make sense. Is this the way an institutions treats a respected client who requires a transaction that holds almost 0% risk for the bank. Since then I have decided to cancel the contract and will be requesting a loan from another bank.

Company: Absa
Country: South Africa
City: Pretoria - Woodlands

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