SM
Sibusiso M
Active since Jul 2018
3
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3 reviews1 month ago
EXTREMELY POOR SERVICE FROM SANLAM INVESTMENTS!!!
So last December 2025 I decided to open a tax-free savings account (TFSA) with Sanlam Investments under my dauhter's name, hoping to invest for her tertiary education. In January this year the first premium was deducted from my bank account as agreed. And I was happy that I had started saving with SANLAM. The problem started at the end of January this year when I enquired with the financial advisor (who was based in Richards Bay at the time), if I could deposit a lump sum into my tax-free account in order to take advantage of the maximum annual amount payable during the 2025/2026 tax period - which was due to end by February 2026. The financial advisor requested a few details from me, then sent feedback with details on how I could deposit the lump sum. I was able to first confirm with FNB that the bank details were indeed for Sanlam, then proceeded with the deposit and used the reference as supp**** by the financial advisor. I made the deposit on the 29th of January 2026, but that amount has never reflected in my daughter' TFSA! I have been doing follow-ups with the same financial advisor since the first week of February, but she has been struggling to assist me because she was not getting support from the relevant department/s. The staff in those department/s were doing their very best to keep sending us from pillar to post, requesting one item after another, etc. The financial advisor had been sending me updates that she was trying to escalate my issue, but was not getting any joy. On the 13th of February I got some feedback again from the financial advisor, informing me that none of the department/s that were contacted could help since I opened the TFSA online - therefore I needed to call whoever referred me online for assistance! Since I could NOT understand how SANLAM could not assist us with the account that is in their system, I queried further but no one could make me understand this. This is when I decided to stop doing any business with SANLAM, because it is clear that for the past 5 weeks SANLAM was just punishing me because I opened the TFSA online & not at the branch. This now raises another question: Why make the facility to open an account available online, when you know very well that your clients are going to struggle later when they need assistance? I had to go to the branch (Richards Bay) to ask them to call the right department in order to cancel the debit order and reverse all monies that I had already paid, this is still in progress. I am expecting SANLAM to drag the cancellation process too for another 5 weeks - because they have shown me that they can! I regret doing business with SANLAM, as that has caused me nothing but frustration and stress instead of a peaceful investment. The treatment that I got from them is proof that THEY ARE NEVER THINKING AHEAD. Going forward I will never even look at the direction of a SANLAM building. 😢
0 replies
20 months ago
FNB’s process of dealing with *****ulent transaction extremely poor!
On the morning of the 23rd of August 2024 I noticed that there was a debit order of R2,964.32, for an FNB Personal Loan that was debited on my account. I do not have a personal loan account with FNB, nor with any other bank. When I visited the bank on the same day, I was told that I should wait 24hrs until the debit order could reflect under My Debit Orders, then call the ***** helpline to have the money reversed. On the 24th of August I called the ***** helpline, only to be told that the debit order was blocked & could not be reversed. An AEDO Debit Order ***** Form was sent to me via email, and I was told to fill the form for FNB to resolve the dispute WITHIN 40 days of receiving the form!!! 1) Their ***** helpline does not have an option to report *****ulent transactions. The system does its best to make the caller go around in circles, without getting any help! 2) The lady who assisted me (Melinda) was rude; she was shouting at me whilst I was on the call. I had to tell her to stop shouting at me. 3) The bank confirmed that they cannot find any personal loan account under my name 4) The bank could not explain where the debit order (R2,964.32) was credited. 5) I told the lady that I have debit orders that will go through my account between Sunday (25 Aug) & Monday (26 Aug), and I need assistance from the bank since they can’t reverse the money. The lady was bold enough to tell me that they can’t assist me. 6) The bank was not willing to give me any assistance whatsoever, except for me to wait for up to 40 days before this conflict is resolved. The only thing that they excel in, is apologising for not being able to assist you! I’m sure that whoever that’ll respond here (representing the bank) will do exactly the same. Their entire process of dealing with *****ulent transaction is extremely, extremely poor - they deserve less than the poor rating that I gave them.
212 replies
94 months ago
Masters of POOR service!!!
I recently used Mastercare Earlybird services to repair my Samsung 40" LCD TV. Believe me, they are the masters of poor service! When I joined Mastercare, I chose the best appliance repair contract believing that I will be fully covered when one of my covered appliances fail. On the 15th of November I logged a call for my TV, which was not functioning. Their Richards Bay-based agent collected the TV 3 days after. After that there was no feedback given to me. When I phoned them to get feedback, they kept telling me that the backlight has been ordered from outside of the country, and will be delivered at the beginning of this year. Although I was not happy, I decided to wait for the new year. After numerous attempts of calling for feedback on the status of my TV repairs, I was told that the agent will bring the TV back. I was glad that finally I was going to have a working TV in my lounge. Then their agent delayed the delivery of the TV. When I phoned the agent to inquire, I was told that I had no need to rush the delivery because the TV had not been repaired! That was the first time that somebody told me that the TV will be returned unrepaired. When I phoned Nishelle Milne to find out why I was not informed that the TV was being returned unrepaired, she simply apologised for the inconvenience & told me that I should replace the TV since it was not economical to repair. They only promised me a reduced monthly payment for 3 months. A few days later, when I called in to cancel my contract with them due to the poor service that I had received, I was told that the contract has been cancelled. In June, when I checked my bank statement I noticed that Mastercare had never stopped the deductions from my bank account. I had to go to the bank and reverse all the deductions. The deductions have never stopped to this day, and I have to go to the bank to reverse their transactions each time. I have no energy to call Mastercare because their telephone system always makes you wait in the line for more than 45 minutes before the call in attended to. And as one can see, these people are masters of bad service. "If it's a dissappointment, headache or stress that you're looking for, then look no further. Call Mastercare now!"
106 replies
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