Author: The suffering public
Wed Dec 17 08:52:44 2008

Who is going to help us the public get redress from these banks? I wrote to the Reserve Bank and got no response.

My story is: I tried to invest my daughter's roora in some Unit Trust. I have asked to deposit the money into the Unit Trust's bank. Because of the amount involved I used an RTGS. Back then, It was taking maximum 48hrs to reflect. My bank showed the transfer had been successful and effective date was the following day. The Unit Trust never got the money and therefore did not give me any units.I started 'fighting with the bank and got my money back with no interest after 44 days. I was only able to buy a third of the units I thought I would get initially.

The bank promised to compensate me provided I made a claim through the Unit Trust. I did, they ignored for 7 months only to tell me I was too late in making the claim.

Is there somebody who can help us bring the culprits to book. Can we form a pressure group of some sort?




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