5 years ago we got o.d. facility with FNB. Besides monthly charges, INITIATION fee of R 2280 was paid. Four years in a row, FNB debited account with R 2280 being INITION fee. After complaining, those fees were credited. We do not use facility. Without prior notice on 1-2 '13 again R 2280 was debited. We had endless trouble getting OUR money back. The business banker: I am not looking after account any longer. We got hold of Segment Head and explained, that INITIATION means just that. NOT an annual fee. He suggested that extension of existing agreements justifies the charging of INITIATION fee. We explained that such extension cannot be made unilaterally and that we don't want to have an unused facility at such cost and that by reversing those fees for 4 years, FNB acknowledged that they were wrong. He informed us: The person who signed the contract 5 years ago has left. 2 weeks after our meeting we received by mail an undated envelope with a letter dtd 1-2 '13 advising that FNB had extended facility. It took weeks to have the money reversed. I fear that ample businesses and individuals are so parted with money. We moved to Standar Bank. Much better!
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