Complaint / review text:
We have a small money market fund since 2000 and over the year gained interest on this, however in July ABSA money market fund decided to take R5000 from the account to help bail out Africa Bank as they invested via this bank... How the...??? This is all the interest we have earned since 2000 so what was the point in saving??? I spoke to family who also had money in the Absa Money market fund and he was also told that every account was charged 3% to help Africa bank. He is retired and they took a huge sum from his investment. O' they did apologize but nothing they can do about this. Is there anyone else who went through the same or perhaps you didn't check yet? We will close this account and invest somewhere else now.