FNB drops fee to cancel unauthorised debit orders

[Swa]

Because historically, the banks would have been unable to verify the millions and millions of debit order mandates manually. Hopefully they use technology and fix this issue quick quick.

They need to look after their other customers interests too, the ones requesting the debit orders.

Historically they could have had an option to disallow all debit orders but didn't even have that. We've been promised an electronic way to verify debit orders for over two years but are still waiting after deadline after deadline have passed. They could have implemented that 20 years ago already.

wait, so other banks are charging you to stop unauthorized debit orders?

There is no white knight in the banking space. Most however will refund you after investigating and finding no authorisation.

 

[supersunbird]

wait, so other banks are charging you to stop unauthorized debit orders?

Yes

 

[Adenoid Hynkel]

What's the fee for debit orders above R200 that are disputed?

 

[rvZA]

About time. Fnb was just as criminal and complicit in these scams and making money off innocent victims while this occurred.

 

[rvZA]

Luckily I don't use debit orders.

Just wait until a debit order suddenly get loaded on your account, without your knowledge and permission and the bank simply takes an R80 fee when you report the debit order and wants to have it cancelled.

 

[BBSA]

About time. Fnb was just as criminal and complicit in these scams and making money off innocent victims while this occurred.

You know the article is for 2018, right?

 

[backstreetboy]

Just wait until a debit order suddenly get loaded on your account, without your knowledge and permission and the bank simply takes an R80 fee when you report the debit order and wants to have it cancelled.

My suspicion is they get your data from debit orders you already have. That data gets leaked or sold on. Plus I have 6 accounts with Capitec. Good luck hitting the right one.