My FD AC was set up at Northgate branch about a week ago, with a 500 000.00 investment over 5 years.
On leaving the branch I was asked to EFT R 500K from my ABSA AC to the above AC.
To make this transfer it cost me time & money, I have to:-
- Transfer funds between ABSA accounts
- Increase my transfer limit within my ABSA profile
- Pay ABSA fees
- Decrease my transfer limit within my ABSA profile
The above branch code was not accepted, so I used the “universal code” 051001
Yesterday the R 500K was returned to my ABSA AC. No communication received from either bank, I just noticed the reversal during regular internet banking.
Called Std helpline, 25 minute call to hear “you now need to go to an ABSA branch”.
Why do Standard even bother advertising their FD rates only to waste my time?
Try African bank folks, they give you better interest (13.7 capilalised over 5 yrs) and probably
treat you better as well!
