Unsubstantiated Account Suspension
Account Suspension - 5 Days No Resolution | Formal Dispute - R11,000.00
My bank account has been on hold for the past 6 days. According to Bank Zero, they are still waiting for FNB, the complainant’s bank, to conclude their investigation. The entire process is dragging with no resolution in sight.
What is concerning is that FNB will at no point request a sworn affidavit from me to explain my side of the story or the nature of my business dealings with their client.
I fail to understand how someone can pay a deposit plus rent for an apartment, collect the keys, move in, and then two months later report the very same legitimate transaction as fraud. To make matters worse, he still resides in that same apartment.
It appears that people are now weaponizing the banks' fraud process to harm others' businesses and reputations. The truth is, there is very little one can do to prove their innocence, as the reporting bank only takes a statement from the complainant.
Many innocent people have fallen victim to this, and banks are doing nothing to protect us.
My bank, Bank Zero, has not been helpful at all. The only response I receive is "we are still waiting for FNB to finalize their investigation" - this after more than 6 days. It is extremely frustrating.