Complaint / review text:
We invested money with FNB 5 years ago for my daughters school, which matured earlier this year, when we went to FNB to get the money for her school expenses. We were told FNB re-invested the funds for another 5 years, without getting any confirmation or checking with us whether we needed the funds or not.
FNB now tells us that if they release the funds to us we have to pay a penalty of up to R8000.00 and lose any interest that the bank earned over the new period. So in other words we have to pay for their poor service and lack of relationship with the clients.
Furthermore FNB's investment interest rates are much worse than what is available on the market - yet they went ahead and invested our funds for5 years at a pathetic rate.
FNB has absolutely no consideration for people's hard earned money, no customer service at all