Absa drains consumer's account month after month after an error on its part
This is no way to treat a customer. It's been a painful experience
A Johannesburg consumer who has been battling to make ends meet for the past seven months because of Absa's bungling of her vehicle finance agreement received R60,000 in reversed debit orders this week. And R72,000 was credited to her loan account.This was after Money took up her complaint against the bank. The consumer, who asked not to be named, told Money she had been forced into debt since her ordeal began at the end of last year. In November, she bought an Audi A4 from an Audi dealer in Johannesburg. As part of the deal, which was financed by Absa, she traded in two vehicles. Based on the consumer's contract with Absa, the dealer was supposed to pay the bank for the vehicles she traded in, this being a deposit of about R72,000 for the new car. But in December Absa was still debiting her account for the vehicles she had traded in, and also began deducting her repayment for the new car. "I was left with R2,000 a month on which to live," she says. In December, the consumer d...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.