Fnb forex south africa
A Johannesburg entrepreneur has accused FNB of covering up fraudulent misrepresentation by one of its officials in a transaction that cost him R1. FNB client Tamsanqa Moya, who had ordered vehicles from overseas for use in a bus transport venture, is suing the bank and a local car dealer for R6-million in connection with the costly transaction.
He believes that FNB is concealing fraudulent activities by one of its forex officials, whom he alleges is operating a syndicate with figures outside the bank. FNB management has since said that Simpson issued the letter in error and that action has been taken against her. It has refused to provide further details. Police say the absence of these documents is hampering their investigation.
Moya entered into an agreement with the dealer, Friedcorp trading as Direct Car Sales, in October to buy the two coaches. He says that Friedcorp, which claimed it was an agent for Chinese minibus manufacturer Shenyang Brilliance Jinbei Automobile, promised to deliver the vehicles early if he paid up front.
When the coaches were not delivered, Moya said he terminated the agreement through his lawyer and demanded a refund. In response, Friedcorp representative Mohamed Azhar Saloojee had shown him documents from China stating that the buses were in production. Moya was also shown the letter from Simpson confirming payment to the Chinese manufacturer. On the strength of the FNB assurance, Moya said he had entered into a second agreement with Friedcorp.
Revealing that the company does not manufacture coaches, Shenyang general manager Frank Qian denied receiving any order from Friedcorp or payment from FNB. He said he laid a fraud charge against Friedcorp with the police commercial crimes unit in Johannesburg. The Financial Intelligence Centre Act Fica requires banks to keep payment records for at least five years from the date on which transactions are concluded. She declined to comment further as the legal case is still pending, but said the bank was cooperating with the police on the matter.
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Land expropriation and an internal party debate on race represent some of the DA leadership's challenges in finding the party's new voice. If you are looking for other currency rates please click on each of the logo's below for a full list.
Average amount that you withdraw at the till per month? Average amount that you withdraw at the branch per month? Average amount that you deposit at the branch per month? Rates that are shown in bold, indicate the cheapest rates if you are buying forex and the highest paying rates if you are selling forex. EURO- The best rates for the Euro are generally between Nedbank and Absa and comparing rates from these two banks will help you find the best rate.
On a general note, in terms of the the three currencies mentioned above, FNB is seen to consistently have the most expensive rates by placing the biggest spread the difference between the buying and selling rates on each currency meaning you get less currency when you buy from them and then less Rands when you convert back to ZAR. I upgraded my credit card and fraud happened on the card that was still with the couriers and they had linked my cheque card to that card as well and transactions were done also from the cheque account.
My question was who linked my cheque card to a credit card that i hadn't received yet and i was given lousy excuses, no apology from the bank what so ever. I then decided to closed both my cheque account and credit card and I want nothing to do with the bank anymore. They might have the best self service channels but their contact centre sucks. I wonder if tehy listen to their calls or if they have Quality Assurance.