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Attorney's dormant account at FNB open again

By unknown | Feb 21, 2007 | COMMENTS [ 0 ]

A firm of attorneys in Vereeniging, which was about to issue summons against FNB, will no longer do so.

A firm of attorneys in Vereeniging, which was about to issue summons against FNB, will no longer do so.

FNB has agreed to activate their account, which became dormant in 2005.

Sowetan published an article at the end of January about a pensioner whose R300000 was fraudulently withdrawn from his account the previous month.

After battling for a month on his own, Ndoyisile Mfiki approached ConsumerLine for help.

He was subsequently refunded after Sowetan's intervention. He has since bought himself a car with a portion of his money.

"We are having a similar problem as the one published in your article," Sipho Mnguni of the law firm told ConsumerLine last week.

"There is one estate matter that we are administering and we had opened an estate account with FNB.

"This account was used regularly until 2003 when it became dormant.

"There was a credit balance of R28513, 75 at the time.

"When we finalised the estate and wanted to obtain money from the estate account in order to distribute it to the children of the deceased, we were sent from pillar to post," said Mnguni.

He said the reason given by the bank was that the account reflected a zero balance.

"We have been communicating with FNB for the whole of 2006 without luck," he said.

ConsumerLine spoke with FNB, and the matter was resolved.

Cassim Maheter of FNB confirmed that the account in question became dormant.

"This occurs when there are no transactions for at least 18 months. Even though an account is dormant, and effectively closed at the branch, the customer may still request access to the funds," said Maheter.

He said the credit balance is claimable provided the customer submits a statement, cheque book or savings book to the branch manager.

FNB has now contacted the attorneys to access the money.

Mnguni confirmed that the account had been reactivated.

Maheter said branches advised customers when an account was about to become dormant by sending letters and calling the customer.

l If you have an FNB account holder which becomes dormant you should write to The Chief Executive Officer, FNB, PO Box 1153, Johannesburg, 2000.


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