Complaint / review text:
I bought an investment flat two years back and went with FNB Home loans as they gave me the best rate although I bank with Nedbank and have done so for almost 15 years. I was under the impression that I had an Access bond, which was why I had been paying additional money into the loan. Last year I found out that I did not have an access bond and that all additional funds in my account would not be accessible. I emailed to find out if I could change the bond to an access bond and was told yes, if I switch my salary to FNB. This I will not do. I spoke to my home loan broker and she stated that there was a way for me to get my funds out at any point and said that someone at FNB would contact me to explain this to me. And no one even bothers. I have to wait till I have a specific percentage paid off on my bond until I am able to transfer it.
I refuse to switch banks. And I don't want my additional funds now. I want the OPTION that if I need them in the future that I can access the excess. And FNB is not being very helpful. So I will switch once I can. And I will not bank with FNB again.