I have a home loan with FNB for just about a year now, and come December we decided to make an extra payment against the loan. Convoluted process aside, it was eventually processed in March and the monthly deduction for April reflected accordingly.
The problem is that I can find no proof of that transaction anywhere. Not on the statement of the account where the money was removed from, nor on the statement of the loan where the money was payed in to. Not on the 3 Month statement you can download. Not on the account details or anywhere I could think to check. I used the build in chat function on the app and the agent eventually informed me of a note (visible to them only) on my account of the transaction that took place.
The way the payment works is that you have to say how much money should be left in the account after processing, rather than how much you want to pay. If you had R100k in the account and want to pay R30k extra, you fill in the form for R70k to be left. So for the 3 months that I was waiting on the transaction to process I tried to keep the value in the account stable, but life happens and it was not tracked to the last cent. So I actually had no idea what the final amount payed was, until after talking to support.
This just does not "feel" right. The money is not gone and my loan is less, so all good there. But where is the proof? Is this even legal for there to be no mention of a tens of thousands rand transaction anywhere for me to see?
The problem is that I can find no proof of that transaction anywhere. Not on the statement of the account where the money was removed from, nor on the statement of the loan where the money was payed in to. Not on the 3 Month statement you can download. Not on the account details or anywhere I could think to check. I used the build in chat function on the app and the agent eventually informed me of a note (visible to them only) on my account of the transaction that took place.
The way the payment works is that you have to say how much money should be left in the account after processing, rather than how much you want to pay. If you had R100k in the account and want to pay R30k extra, you fill in the form for R70k to be left. So for the 3 months that I was waiting on the transaction to process I tried to keep the value in the account stable, but life happens and it was not tracked to the last cent. So I actually had no idea what the final amount payed was, until after talking to support.
This just does not "feel" right. The money is not gone and my loan is less, so all good there. But where is the proof? Is this even legal for there to be no mention of a tens of thousands rand transaction anywhere for me to see?