Retrenchment benefit for the premium account is not bad, especially taking into account the situation we are in, the economy and our incredible dedicated, hard working, efficient and honest government...
For six weeks, two Absa customers have been given the run-around while trying to access funds paid to them to the tune of R20 million.
Lawyers acting on behalf of the clients, Steven and Sarah*, began their queries on 4 July after the pair – awaiting a R20 million payment from a third party for services rendered – did not receive the funds.
Enquiries with Steven and Sarah’s bank branch and banker proved fruitless, after no confirmation could be made of when the customers would receive their money.
They opened a case with Rosebank police on 23 July and on 27 July, Steven and Sarah were contacted by Absa, who queried certain bank charges relating to the pending R20 million payment.
The pair explained that the funds were paid by a third party, but had not been received by them, and that the money was urgently needed to fulfil important financial commitments.
The matter was then handed over to the bank’s forensic team, and Steven and Sarah provided an affidavit to their legal representative.
According to the duo, the bank’s investigators said it was likely the funds were withdrawn from within Absa bank, and that their account was somehow duplicated.
Sarah and Steven were told to expect a full refund within 48 hours of receiving a confirmation number from Absa’s insurers.
The Women’s Day long weekend came and went, but still Steven and Sarah had not received their money.
Enquiries were made again, prompting Steven and Sarah’s representative to meet with the bank’s representative, and to provide verification information needed to release the funds, on 13 August.
The next day, further enquiries revealed that the funds had been paid out on 13 August, but to the duplicated account that had since been closed when it was discovered and being investigated, according to Absa.
Sarah received a phone call from the bank’s investigator on Friday explaining that she still had not received her money because the money paid into the duplicated account had to be reversed.
The investigator said Sarah’s account had to be refrozen due to “an unfortunate event on the Absa server”.