Key Takeaways
- FNB has rejected a customer’s claim of losing over R10,000 while depositing cash at one of its ATMs, citing no evidence of foul play.
- The customer, Richard Zwane, suspects that the money was stolen by a syndicate, including employees working at the bank’s Eyethu Mall branch in Dube, Soweto.
- FNB’s investigation found no valid errors in the ATM and confirmed that the total deposited amount was R23,700, not the R34,000 claimed by Zwane.
- The case has been escalated to the Ombudsman for Banking Services, and FNB is working on improving its processes to ensure better customer communication.
Introduction to the Incident
The incident involving Richard Zwane, a 65-year-old mechanic, has raised concerns about the security and reliability of FNB’s ATMs. Zwane allegedly lost over R10,000 while depositing cash at an FNB ATM at the Eyethu Mall branch in Dube, Soweto. He suspects that the money was stolen by a syndicate, including employees working at the bank. This incident is not isolated, as there have been reports of a marginal increase in bank theft at various ATMs at the mall. A police officer at the Meadowland’s police station, who handles criminal cases from Eyethu Mall, confirmed that there had been a rise in such incidents.
The Customer’s Experience
Zwane’s woes began on October 27, when he had just paid a R10,000 deposit to buy a car at an auction. He needed to pay the balance of R34,000, but the auction house did not allow sold vehicles to be kept overnight. Zwane went to the FNB branch at Eyethu Mall to deposit the R34,000 into his account so he could make the transfer to the auction house. However, he was told by a teller that they did not handle hard cash and that he must use the ATM to deposit. The teller referred him to a security guard, who assisted him with the transaction. Zwane and the guard made three deposits into the machine, but he only received two receipts, one for R17,000 and another for R6,000, leaving R10,300 unaccounted for.
Investigation and Response
Zwane alerted the teller, who referred him to the manager, who in turn told him to report the matter to the bank’s head office. Zwane was given a claim form and eventually contacted the bank’s fraud line, which referred him back to the Eyethu Mall branch. The branch investigated the matter and found no evidence of foul play, despite Zwane’s suspicions of a syndicate operating in the bank. FNB’s corporate affairs executive, Jacqui O’Sullivan, stated that the investigation outcome showed no valid errors in the ATM and that the total deposited amount was confirmed as R23,700. The bank is confident that the correct processes and protocols were followed for logging the dispute claim.
Escalation to the Ombudsman
The case has been escalated to the Ombudsman for Banking Services, as Zwane is not satisfied with the bank’s response. FNB has stated that it is working on improving its processes to ensure better customer communication going forward. The incident has raised concerns about the security and reliability of FNB’s ATMs and the potential for syndicates to operate within the bank. The Ombudsman will review the case and provide a ruling on whether FNB is liable for the lost amount. In the meantime, Zwane is left to wonder what happened to his money and whether he will ever see it again.
Comparison to Similar Incidents
This incident is not the first of its kind, as there have been reports of similar cases in the past. For example, Capitec Bank client Nhlanhla Mbatha lost over R5,000, which was illegally withdrawn while he was checking his bank balance at an ATM. The bank eventually refunded him after he approached Sowetan. The similarity in these cases raises concerns about the vulnerability of banking systems to theft and fraud. It also highlights the need for banks to have robust security measures in place to protect their customers’ funds.
Conclusion and Recommendations
In conclusion, the incident involving Richard Zwane and FNB highlights the need for banks to have robust security measures in place to protect their customers’ funds. The case also raises concerns about the potential for syndicates to operate within banks and the vulnerability of banking systems to theft and fraud. To prevent such incidents in the future, banks should review their security protocols and ensure that their ATMs are secure and reliable. Customers should also be vigilant when using ATMs and report any suspicious activity to the bank immediately. The Ombudsman’s ruling on this case will provide guidance on the liability of banks in such incidents and the need for better customer communication and protection.
