The banking drama

On Friday, she said........... "It will be in your account on Saturday"

Well it wasn't.

So what, you might say ? 

Well it turned out, this was potentially going to cost me, a lot of money - R2000 plus.

Let me explain..........

I skipped the farm on Monday, to tackle the investments - principally Moms, but since, mine was still in limbo, mine, as well.  Now, having shopped around, exploring options,  one bank was by far and away.......... the best choice.

The catch, there is no branch in Springs. 

So I needed to play "taxi" and get Mom to a nearby town, to make all the arrangements.

No problem.  We drove to Brakpan and sorted things out.  Along the way, I confirmed that, it was not some cellphone blip, that had failed to notify me of the transfer. 

The money was NOT there.

As we were wrapping up Mom's investment, the women doing the transaction, suddenly suggested that my Mom, sign next to the interest rate.  Her reason............. the interest rate was about to change, and she wanted to make sure, Mom got the current rate.

OMG !  The alarm bells went off in my head.

I drove Mom back to Springs, told her the lunch she had planned, was NOT going to happen.  I needed to get back to Edenvale. PRONTO !

Which I then did............... heading pretty much, straight to the bank.

When I arrived, the manager I had dealt with on Friday, was not available, so I saw someone else.

She said, well I had been misinformed, it would take 1-2 working days, to move the money.  It should be in my account, by Wednesday, at the latest.

I kinda exploded - pointing out, that I was losing interest on the money,  and worse than that, I would now be earning a lower interest rate, thanks to their "stuff up".

She disappeared.............. for what seemed like forever.

And then re-appeared, suggesting that they write a cheque.

So that is what they did and, I received interest on the money, as well. 

I am pretty sure, I will never hold a cheque, in my hand,  for that amount of money, ever again. 



I, along with the manager, then proceeded to cash the cheque and...... THE MONEY WAS IN MY ACCOUNT !

Yah !

The rest is a "happy" story - I was able to set up the investment at the interest rate of 8.7 %. 

For the record, they dropped the interest rate, to 8.05 %, overnight.


The reason for "happy" in inverted commas, as I was cashing the cheque, the teller, explained that it would incur a handling fee.  And since the amount is BIG, the handling fee is BIG, too.  But, the specifics were at this stage, unknown - my account would be debited, at the end of the month. It would reflect as one number - banking fees.  The manager whinced and then said, they would pay the fee.  I was given her card, to make the arrangements.  So this is only part 1, of the banking drama.