Results 1 to 2 of 2

Thread: FNB One account confuses accountant

  1. #1
    just me duncan drennan's Avatar
    Join Date
    Jun 2006
    Cape Town
    Thanked 94 Times in 77 Posts

    FNB One account confuses accountant

    It seems that FNBs One account is not quite as simple as they make it out to be — it even has an accountant in knots!

    First National Bank ( part of JSE-listed FirstRand: JSE: FSR) has admitted its much-touted One Account has been giving customers financial problems, but says it is fine-tuning, rather than ditching, it.

    Bank errors leading to loan periods expanding and contracting erratically - which in turn suddenly increase or reduce minimum loan repayments - and incorrect interest charges emerged when a customer complained to the banking services' ombudsman.

    The customer, accountant Marvin van de Heuvel of Cape Town, was confused over what was going on in his bank account and left short of funds at various times.

    He says debit orders were returned, including car repayments - which led to a vehicle being repossessed and a bad credit record. As a result of this poor payment record, he says he can't find work in a finance department.

    Van de Heuvel blames FNB for his woes, but FNB says he is at fault for his "history of poor account conduct".

    The customer has turned down a "goodwill gesture" of about R30 000 from FNB. Van de Heuvel, in his early 30s, says he wants his name cleared and about R170 000 - which is what he estimates the fiasco cost him.

    Meanwhile, there are other FNB clients who have experienced problems with their One Accounts.

    Full story on MoneyWeb
    Anyone here happen to have an FNB One account and any perspective on this?
    [SIGPIC]Engineer Simplicity[/SIGPIC]
    Turn ideas into products | The Art of Engineering blog

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Durban, South Africa
    Thanked 2,676 Times in 2,258 Posts
    Blog Entries
    I don't know about FNB's One account - but I've had a little grief with irregular debits from Wesbank lately.

    It started when I had to close one of the old partnership accounts due to the FICA final squeeze (I still don't know why one has to change bank numbers if you become a Pty Ltd instead of a partnership). Anyhow, despite written instructions to change the account to debit, Wesbank gaily carried on debiting the old (now closed) account. So far it's taken 4 months and two additional faxed instructions to get it back on track. My last telephone conversation on the matter also pointed out that there would be dire consequences if their bumbling resulted in an adverse credit report.

    Date and time duly noted in case I need their recording of that conversation.

Similar Threads

  1. Banking details confirmation scam
    By Dave A in forum Scam Alert Forum
    Replies: 44
    Last Post: 29-Oct-09, 04:01 PM
  2. Suggestions for a low cost bank account
    By duncan drennan in forum General Business Forum
    Replies: 3
    Last Post: 14-May-07, 02:35 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts