An FNB client said he was scammed out of his PlayStation 4 after a buyer bought the console using a fraudulent cheque deposit.
The client told MyBroadband that he advertised his PS4 for sale and was contacted by a Richard, who said he was interested.
Richard told the victim that his friend Sean will come view the PS4, and he will make a cash payment via an ATM if all was in order.
“I agreed with the terms, as I know that ATM deposits reflect immediately,” said the FNB client.
He met with Sean, who viewed the PS4 and called Richard to confirm all was in order.
“Richard then called me confirming the purchase price and I told him it was R4,000,” he said.
Straight after confirming the price, he received an inContact notification that a R4,000 deposit was made into his account.
The message read:
- FNB R4,000 (cheq/s) deposited to Savings Pocket (personal details thereafter).
“After receiving the notification, I released the PlayStation as I had a confirmation from the bank.”
The money disappears
The client said he received a notification from FNB the following morning, however, that the transaction was unsuccessful.
“I called customer care and I was informed that the payment was a cheque deposit, not a cash deposit, and it’s going to take 10 days to clear,” he said.
He then went to an FNB branch, and said he was told there was a note on the cheque payment that it was possibly fraudulent.
“I then called [FNB employee] who told me the cheque was fraudulent and it’s the second time they received that fraudulent cheque.”
“Why did I receive a notification confirming the payment before the payment is cleared as it normally does with an EFT payment and cash payment?” he said.
He said the fraud was possible due to the failure of FNB, and that the bank’s notification led him to believe the money was successfully deposited.
“The bank told me that they don’t have any process with regards to fraudulent cheques,” he said.
FNB was asked multiple questions on the events above, including why the bank sends deposit notifications for cheque payments which have not been cleared, and issued the response below.
Ryan Prozesky, CEO of FNB Value Banking Solutions
Although Cheque Fraud has consistently declined over the years, customers are still advised to be cautious when accepting these types of payments.
FNB will always notify a customer through Smart inContact via the FNB Banking App or SMS if a payment has been made with a cheque.
Upon receiving the notification, customers are encouraged to make use of our branches or digital banking channels, including Cellphone, Online, and Banking App to check if the funds are available in their accounts or still awaiting clearance, before concluding any deals or agreements.
FNB’s standard cheque clearance period is 10 working days.
The cheque clearing period is to protect the FNB customer from instances where the issuer of the cheque has insufficient funds to meet the instruction, or fraud.