ABSAclearing cheques without waiting 7 days

T
This review was posted by
a verified customer
Verified customer

On the 25th of January 2010 I advertised my laptop on junkmail for sale. On Friday the 29th I received a call from someone who wanted to buy my laptop. I explained to them I they could only get it if the payment cleared in my ABSA account. Later that day I noticed that there was a cheque payment of R10 000.00 made into my account and it showed on my internet banking that it was cleared and I could use the funds. Just to confirm I phoned the ABSA helpline and asked if the payment could be reversed as it was a cheque payment. I was assured that if the funds were cleared it wouldn't be reversed. On Monday the 1st of February 2010 I logged onto my internet banking and noticed that the cheque bounced and the funds were returned. I went to my ABSA branch in Randburg to find out why the funds was cleared and then reversed? I was then told that it cleared automatically because I had a good credit rating with ABSA. I really think this is unfair because I did not ask for this facility and have never had any cheques deposited into my account. Now I am in arrears by R12 600.00 and ABSA says it is not their problem. I also received a registered letter today to say that I now owe them money.

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.