New banking program causing problems

[Dave A]

On Friday the overdraft limit on one of my bank accounts mysteriously changed. I called (of course) and was told that there has been a change-over to a new system. Apparently not all the latest account admin data made the migration. And apparently I'm not the only one affected. I've just been told of someone else who has experienced a similar problem, and they're with a different bank.

I suggest if you've made any changes to your overdraft limit in the last few weeks, it might be an idea to check those changes have stuck.

[Vincent]

I had a small overdraft on my one ABSA account, and it too just disappeared - no explanation, just sorry you don't have one anymore. Maybe its got something to do with the NCA

[daveob]

no explanation, just sorry you don't have one anymore.

Now see if you can get back the unlimited personal surity that you signed for that overdraft - I tried for 6 months before closing all my accounts with ABSA and moving to FNB - best thing I ever did - and I don't have to pay R1 every time I look at an online statement.

[Dave A]

Vincent - if it disappeared last Friday, it could be a technical glitch as opposed to anything else. But I suspect it's not going to find its way back by itself so if it's worth it, phone them and enquire what happened.

[daveob]

What ever happened to Monopoly's "Bank Error in your favour : Collect £ 200 " ?

[Dave A]

This is South Africa - bank errors flow the other way

[Vincent]

Gave them a call. It was unsecured, and I haven't used it in over two year.

Now see if you can get back the unlimited personal surety that you signed for that overdraft

Peter Carruthers from Business Warriors wrote a book called Crash Proof Your Business, and in there he explains how to get the surety cancelled. Quite an entertaining tactic.

[Martinco]

Gave them a call. It was unsecured, and I haven't used it in over two year.

I changed my banking from ABSA to STD and asked them for my sureties. "Sorry sir, these are kept in head office and could take quite a while to find "
I then went to the manager and demanded a) A letter stating that ALL my sureties are canceled and b) He has the authority to do so. and c) Must also be co-signed by his superior.

I got the letter and hopefully all is well