When the banks take over your accounts

[Michelle]

I have been holding back on a matter because it upsets me so much I become totally irrational when thinking about it. We have been having so much trouble with our dealings with the bank in South Africa. We have closed all our accounts but one and our bank is controlling that account so much that it does not even feel like it is ours. Before we left we met with the very incompetent lady at the bank to let her know our situation and find out what we needed to do in order to get a tax certificate. when my husband made the appointment he made it very clear what the purpose of the meeting was. However when we stepped into her office she asked how she could help us and only then started printing out the necessary paperwork, which took ages!!! We explained that we were leaving had no kids and what properties we had etc. She paid no attention to this and explained all scenarios to us, when you have kids the whole works. We were very worried after this appointment. We had reason to be worried.

In January before Kobus even left our internet banking access to our accounts was cancelled. We had to phone them and get our statements faxed to us if we wanted to know what was going on in our accounts. They apparently could not send email. Then they started refusing all payments made into the account. We had to inform them of every payment about to be made and provide proof of the reason it was to be made. This becomes ridiculous when all you want to do is deposit a R 70 refund from Telkom or whatever.

Before I left I submitted the contracts of the sale of both our properties. When the lawyers tried to deposit the money into our account it was again refused. We only found out when we received a statement again. We then organised that the lawyers send the contract to the bank again. Just our luck shortly after the lawyers had done this and the bank was happy to receive the payment the lawyer dissapeared and the practice has now been closed. So we now have to try and claim the what we assumed to be stolen money from the law society. I know it is not the bank's fault that we had a dishonest lawyer handling the sale but if they had just accepted the first payment we wouldn't have had to gone through this. We are also losing loads in interest and exchange rate while they are sorting out how to do their jobs. I am absolutely infuriated. Other refunds into our acount have also recently been refused by the bank. I see they charge us R 21 every time a deposit is made and they refuse it. Ridiculous.

Has anyone else had problems like this? Maybe we can take on the banks together. I am at the end of my wits. Spend a half an hour screaming in my husbands ears over the phone (he is in Melbourne) after I saw the last statement!!!! HELP!!

[Riekie]

Goodness! No WONDER you're upset!!! We have absolutely NO problems - that's ridiculous! (Where are you banking?)

[Ajay]

Hi Michelle,

No wonder you are mad - you have every right to be!

I think there might be a banking ombudsman that you can contact? Try a google search on this and see if that helps. It sounds like what has happened is that they have frozen the account in your absence, but surely you should be able to deposit???

Good luck with this and keep us informed - maybe others can learn from your unfortunate experience.

Love

Ajay

[Guest Seoul Sister]

Hi Michelle,

I am very sorry to hear about your situation. I am also sorry to say that this is all sounding very familiar to me ! Especially the bit about the lady at the bank being so incompetent and unprepared... If you are speaking of the ABSA Bank in Menlyn, please PM me, as I had similar troubles there during my last trip to SA.

Love

SS

[Harry]

Michelle,

I'm sorry to hear about your predicament. It seems like a very unfortunate combination of choice of attorney and choice of bank.

To folks contemplating emigration, in general:

My homework in SA at the time made me focus on Nedbank. They had somehow been ahead of the others in identifying emigrants as a client base. Some others were truly awful. I remember going in to FNB in Pretoria to try and handle one small item. At a critical point some specimen of the female gender came waking out of her office and said loudly at the top of her voice: "OKAY, wie is dit hier wat emigreer!!". I had NOT said that I was emigrating, but she was "on a mission".

Remember, the only people in SA who resent you more than the present government, are the whites who cannot, or are to scared to, leave. They hate you not only because you are emigrating. They hate you even more because THEY feel they cannot leave. Your very existence engenders fear in them. Those of them who work in banks enjoy nothing more than causing you misery. It rationalises their position for them.

Now, read THIS link and read EVERY WORD OF IT. You will immidiately understand why I simply walked out of the bank and never went back. NOW open up every document that I link to in those posts on that thread and READ THEM IN DETAIL. It is tough going, but do not be a lazy fool....go through it. This is serious and important stuff. Your entire future is at stake.

Please understand that the SA Banking system IS NOT YOUR FRIEND in this matter...they are the government's friend...BY LAW. You need to act in thelight of that truth.

You will hardly ever get straight answers about it because people cannot afford to speak too straight to you about it. Someof the numbers have now changed, but the rules stay the same as far as I know.

[Michelle]

Choice now that is a word for you. I should probably not say this but out dealings have been with Nedbank. The service we received before emigrating from Nedbank had always been very efficient. We had a personal banker who I would recommend for president. She really went out of her way for us. I appreciate that the systems in place for emigration are new. They told us that group was just started to ensure that taking money out of the country was done in a legal way. However if the group are on a learning curve I would expect they would try harder to be of service.

The attorney was appointed by Private Property for the sale. We never had need for an attorney previously so what would we know. Somehow the person we dealt with at Private Property has also resigned. Maybe he ran away with our lawyer?

Thanks for all the replies. I hope you all have more pleasant dealings with your bank. Maybe we just left at the wrong time.

[Guest colton]

This thread is REALLY scaring me!!!

I will have to post all my questions when I get to this stage so I can be prepared before hand. No jokes I am really scared read all this

[Harry]

Michelle,

our dealing with them were in late 1999 to mid 2000, and after that via the UK, where I paid them a personal visit. Maybe it went wrong after that? Dunno!

[Mara]

I have seen so many of these posts and completely understand what they are all going through. Sadly, it is not the bank, but the actual people in the branch that you deal with, that you have to watch out for.

I have an expert on tap, however, I do not want anybody to think that I am trying to make money out of other people's misery - so I will tell you what experience she has, and if you are interested in using her services, then email me and I will pass on her details, I am not prepared to post them here.

My sister worked for one of the big accounting firms in Johannesburg for 20 years. She headed up the department that dealt with the blocked funds that people (rich to very rich) had to leave behind. She has dealt with banks, insurance companies, estate agents, staff, cleaners, in other words, whatever these people needed done, that she did. Their tax returns, queries with the tax office, queries with insurance companies, you name it, she has probably seen to it at one time or another. She has our and some of our friends power of attorney to act on our behalf and she gets the job done! She deals with one branch of one bank, and believe me, when I tell you, that even the bank is inclined to call her and ask her advice about Reserve Bank rulings and regulations for the movement of funds. That is all she has done for 20 years and she has it all at her fingertips. She has since retired, now works part time and does this as a business from home.

Good luck to all of you, I hope you get your banking problems sorted out!

[Ziggy]

Reading the first post in this thread and it sounded just like me. Unfortunaly I am experiencing the problem with the ANZ. I was a happy chappy with the service I had from the ANZ in NZ, but must admit I have second thoughts about the Ausie department. I wanted to transfer some money to SA and after faxing the documents made more than 20 calls to different departments, sending normal emails and secure mails, without success. At this stage they closed my internet access, do not want to make any comments on my account when I phone. I lodge a complaint at all departments, the complaint advocate and now turning my focus on the ombudsman. Hopefully I will have the money sooner than later. So all the best and I wonder if this fraud sindicate in Cape Town don't have something to do with it???

[bluebonnet]

I have seen so many of these posts and completely understand what they are all going through. Sadly, it is not the bank, but the actual people in the branch that you deal with, that you have to watch out for.

I have an expert on tap, however, I do not want anybody to think that I am trying to make money out of other people's misery - so I will tell you what experience she has, and if you are interested in using her services, then email me and I will pass on her details, I am not prepared to post them here.

My sister worked for one of the big accounting firms in Johannesburg for 20 years. She headed up the department that dealt with the blocked funds that people (rich to very rich) had to leave behind. She has dealt with banks, insurance companies, estate agents, staff, cleaners, in other words, whatever these people needed done, that she did. Their tax returns, queries with the tax office, queries with insurance companies, you name it, she has probably seen to it at one time or another. She has our and some of our friends power of attorney to act on our behalf and she gets the job done! She deals with one branch of one bank, and believe me, when I tell you, that even the bank is inclined to call her and ask her advice about Reserve Bank rulings and regulations for the movement of funds. That is all she has done for 20 years and she has it all at her fingertips. She has since retired, now works part time and does this as a business from home.

Good luck to all of you, I hope you get your banking problems sorted out!

Hi Mara, I forgot to mention to you, I contacted your sister, and YES, she knows her stuff!!!!!!! I understand why you recommend her. Thanks.

[Mara]

Hi Edwina

Sheesh, it is nice to hear and to be able to say 'I told you so'. I know that she has had to sort out some strange problems, but always seems to be able to pull a rabbit out of the hat!

[Duane W]

Just another example of why people end up doing things illegally in RSA.

Edited November 24, 2007 by Duane W

[Tracy]

I'm soo sorry to hear your story, Michelle.

I agree 100% with Duanne.

I never told my bank one thing about me going. I didn't do anything illegal, except not tell the whole truth when I was asked if I was coming back as I was handed all my forex....

It took me a year to slowly get all my finances into a position where I only had one account, and I owed very little.

From here I can pay into that account and slowly kill it off.

Another "behind the scenes" example of what is happening to South Africa.

[Duane W]

Call it paranioa but I made sure I was "under the radar" when I left

[5vannemerwea]

Gee wiz!

This info together with the strict rules to take money out of South Africa, why does the word "communism" come to my mind?

Just wondering? Hope I'm wrong.

[celeste]

Hi Michelle and fellow forumites

I don't think any honest citizen needs to be worried about these rules...unless you have so much money that the R2 million allowance is not enough provision for you to take all your assests out of the country. These reserve bank rules are largely there to protect against international money laundering and other criminal activities.

You just need to be clear about the benefits of either 1. relocating or 2. emmigrating there are different implications depending on which you decide to declare to SARS - please do a search for the many threads on this topic that have been covered in the past.

I don't see anything wrong with relocating because let's face it some people have left SA vowing never to return and have ended up coming back so it's an individual choice depending on your own financial and personal curcumstance.

But fear -no I don't think we need to be afraid as the govt is still allowing a generous sum to be taken overseas, at the moment. Let's hope it lasts.

Michelle - may I also suggest that you contact the Ombudsman for Banking Services at www.obs.org.za and the FAIS ombudsman, he is the financial advisory services ombudsman and if he cant help he will refer you to the OBS.

Please don't let the stress get to you it is not good for your baby, it is all going to work out fine in the end. I am so sorry about your financial loss, I hope that it can be recouped. If you want to speak to someone in the media about the lawyer and to follow up with the law society please send me a PM.

cheers

Celeste

[Jordy]

THIS THREAD IS NEARLY TWO YEARS OLD. I AM SURE MICHELLE HAS SORTED OUT HER BANKING PROBLEMS. SHE LAST POSTED IN THIS THREAD IN JUNE 2006.

[celeste]

Thanks for the chuckle Jordy. I feel like a right nana I do!!

[Jordy]

Thanks for the chuckle Jordy. I feel like a right nana I do!!

hehehehehehehehehe no problems or is it no worries!

[woodag]

THIS THREAD IS NEARLY TWO YEARS OLD. I AM SURE MICHELLE HAS SORTED OUT HER BANKING PROBLEMS. SHE LAST POSTED IN THIS THREAD IN JUNE 2006.

DON'T BE SO SURE. I LEFT SA MORE THAN A QUARTER OF A CENTURY AGO AND I STILL HAVE PROBLEMS WITH SA BANKING.

Normal programs now resume...