Absa runs several different numbers across savings and investments, and which one you need depends on whether you hold a deposit product, a managed portfolio or a share trading account.
Official provider route
- Savings and Investments products: 0860 111 515
- Stockbrokers and Portfolio Management: 0860 05 04 03
- AIFA: +27 11 225 1797
- Currency and international investment accounts: 0860 151 151 or [email protected]
- General enquiries: 0860 008 600 or [email protected]
The 0860 111 515 line covers the deposit style products. Share trading and managed portfolios sit on a different number entirely, and Absa lists a further entry as AIFA without expanding the acronym on the contact page, so confirm what you are being put through to before discussing an account.
Product or service support
The savings and investment range Absa publishes includes notice accounts, fixed deposits including a dynamic fixed deposit, a cash invest tracker and other cash investments, alongside currency investment accounts on the international side and stockbroking and portfolio management at the managed end. The practical difference is what happens to your money if you need it early: a notice account requires you to give notice before withdrawing, while a fixed deposit locks the money for a set term and generally penalises early access. That distinction, rather than the headline rate, is usually what determines which product suits.
Eligibility, account or policy requirements
Opening any of these requires FICA verification, so identity and proof of address documents are needed even for an existing Absa customer moving money into a new product. Where a product is market linked rather than a straight deposit, it is sold under financial advice rules, which means an adviser must record a risk profile and give a record of advice. Ask for that record and keep it, because it is the document any later complaint about unsuitable advice turns on.
Escalation route
Raise the matter with the relevant product line first, then with the Complaint Resolution Suite on 0800 41 41 41 or [email protected]. After that the route splits by the nature of the complaint rather than the product. A dispute about a bank deposit product, its interest or its administration goes to the National Financial Ombud Scheme South Africa on 0860 800 900. A complaint that the advice to invest was unsuitable goes to the FAIS Ombud on 012 762 5000. The FSCA regulates market conduct and licenses the advisers, and it is the body to check a licence with before acting on investment advice.
Sources
- Absa contact directory: absa.co.za/talk-to-us
- National Financial Ombud Scheme South Africa: nfosa.co.za
- FAIS Ombud: faisombud.co.za
- Financial Sector Conduct Authority: fsca.co.za
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