Absa
Flexi Reserve Balance

I had put an amount away in my flexi reserve account for emergencies which has been there for a period of time. Last year I applied for a re-advance loan to fix my home after a servere leak. I recently receved my statement only to see my flexi reserve balance which I had put there was now at zero. When I called to find out why, I was told it was now at zero because I had applied for the re-advance loan. I explained that the balance in the flexi reserve was put there by me not Absa so who gave them the right to help themselves to my money that was left there for emergencies. I was told that is the way it works, it makes no difference who put the money in the flexi reserve account, as soon as I applied for the readvance loan, it became Absa's money. From where I am sitting, as far as I am concerned Absa has money I put there. I was also told that when I applied for the load, someone was meant to tell me to rather clear that balance first, get the lan and then put it back. This was never told to me. The load through Absa was bad enough with their total incompetence, and now they my money. Anyone with a home loan through Absa, you would be wise to move soon.

Company: Absa
Country: South Africa
City: Head Office

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