Streaming issues? Report here
070a3516-smalljpg 070a3516-smalljpg
Soulful Sundays with Nonn Botha
16:00 - 19:00
volume_up
volume_mute

Up Next: Inside EWN
See full line-up
Soulful Sundays with Nonn Botha
16:00 - 19:00
Home
arrow_forward
Business

Safety deposit box victims considering legal action against FNB

25 July 2017 5:54 PM
Tags:
FNB
FNB heist
safety deposit box

Heist victims are unhappy with the bank's settlement offers for their losses of valuable items, says the group's Kelly Fraser.

A group of First National Bank (FNB) clients who've been affected by safety deposit box heists say they are weighing up their options and receiving legal council.

Victims are unhappy with the bank's settlement offers for their losses of valuable items, says the group's Kelly Fraser.

Fraser explains that she represents about 200 affected victims, who have lost a combined R230 million in goods.

They lost family heirlooms, cash, coin collections and other valuables in one of three recent safety deposit box heists.

It's the banks responsibility to pay attention to detail and safety, our group alone has R230 million worth of valuables.

Kelly Fraser, representative for FNB safety deposit box heists victims

Fraser says FNB's offers are not fair for all affected victims and appear to be capped at a certain percentage.

She says the group is prepared for "the good, bad and ugly" and will consider its options to decide on the way forward.

If the settlement was goodwill, it would be fair and equal across the board.

Kelly Fraser, representative for FNB safety deposit box heists victims

Meanwhile, FNB executive Lee-Anne van Zyl says the bank is not obligated to pay compensation because of clauses in the terms and conditions which were signed by clients.

However, van Zyl says FNB has made ex gratia settlement offers ranging from 0% to 80% of the claims.

We have 44 clients who simply could not substantiate what they had in their boxes.

Lee-Anne van Zyl, CEO of FNB Points of Presence

The bank began e-mailing the heist victims on Monday.

Van Zyl says that FNB has assessed all the claims submitted by victims through prudent internal and external processes in order to calculate compensation.

No matter what we offer as a goodwill gesture, it will never be able to replace what has been lost.

Lee-Anne van Zyl, CEO of FNB Points of Presence

She maintains that both the bank and its clients were victims of a criminal act.

Three FNB employees were also suspended and others dismissed , in connection with a heist at the Park Town branch.

FNB has since discontinued the safety deposit box service.

Take a listen:


This article first appeared on CapeTalk : Safety deposit box victims considering legal action against FNB


25 July 2017 5:54 PM
Tags:
FNB
FNB heist
safety deposit box

More from Business

WhatsApp-message-log-app-smartphone-social-media-texting-technology-123rf

Pyramid schemes: It's greed, you think you stand a better chance than the others

8 August 2020 2:44 PM

National Consumer Commission director of prosecutions Joseph Selolo says you can't be naive or claim to be duped.

Share this:
Read More arrow_forward

premier-alan-winde-cticc-covid-19-hospitaljpg

Premier Winde calls for alcohol sales ban to be lifted in WC

7 August 2020 5:32 PM

Following a cabinet meeting, Winde said that the province had sufficient health capability to manage COVID-19 patients.

Share this:
Read More arrow_forward

mos-crib-thumbnail-unfilteredjpg

Our Nedbank Business Ignite winners want to do business with YOU!

7 August 2020 9:18 AM

From 50 finalists the three winners have been selected and they represent top adaptive thinking in business right now.

Share this:
Read More arrow_forward

performance-3202707-1920jpg

Nigerian Afrobeats star aims to raise $20m to fund the continent's musicians

6 August 2020 9:03 PM

'Mr Eazi' launched the Africa Music Fund to support the continent's creative talent. Bruce Whitfield interviews Lee Kasumba.

Share this:
Read More arrow_forward

oranges-1117628-1920jpg

Good news for local citrus industry: Bumper season expected for US exports

6 August 2020 8:38 PM

Justin Chadwick (Citrus Growers' Association) says it's all thanks to the perceived immune-boosting attraction of Vitamin C.

Share this:
Read More arrow_forward

liquor-store-sales-wine-champagne-mmc-brut-bubbly-alcohol-booze-drinking-123rf

Former Shoprite CEO joins court battle against alcohol ban - Govt is too slow!

6 August 2020 7:36 PM

Bruce Whitfield interviews Whitey Basson, who believes it's just not good enough for govt to say ban will be lifted but not when.

Share this:
Read More arrow_forward

MTN-cellphone-network-service-provider-data-airtime-calls-123rf

MTN to quit Middle East to focus on Africa

6 August 2020 6:55 PM

Bruce Whitfield talks to MTN CFO Ralph Mupita about the reasons for the move and the company's huge profit increase.

Share this:
Read More arrow_forward

afrika-tikkunjpg

SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO

5 August 2020 8:54 PM

Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.

Share this:
Read More arrow_forward

car insurance short-term cover 123rfbusiness 123rflifestyle 123rf

Why it's a bad idea to ditch or downgrade your car insurance to save on costs

5 August 2020 8:21 PM

Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.

Share this:
Read More arrow_forward

liberty-ceo-david-munrojpg

Liberty reports R2.2b loss amid pandemic, but 'capital ratio remains strong'

5 August 2020 7:53 PM

Liberty's David Munro tells The Money Show its R3b pandemic reserve shows the insurer 'truly living out its purpose'.

Share this:
Read More arrow_forward