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    Letter of Demand

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    acemakhubo
    The letter is from First National Bank to a customer regarding an overdrawn transactional account. The account is overdrawn by R293.98. The bank demands payment of the overdrawn amount within 15 business days, otherwise various actions may be taken including legal action, account closure, and limiting online banking access.

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    © All Rights Reserved
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    Letter of Demand

    Uploaded by

    acemakhubo
    42 views1 page
    The letter is from First National Bank to a customer regarding an overdrawn transactional account. The account is overdrawn by R293.98. The bank demands payment of the overdrawn amount within 15 business days, otherwise various actions may be taken including legal action, account closure, and limiting online banking access.

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    fnb letter of demand

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    The letter is from First National Bank to a customer regarding an overdrawn transactional account. The account is overdrawn by R293.98. The bank demands payment of the overdrawn amount within 15 business days, otherwise various actions may be taken including legal action, account closure, and limiting online banking access.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    42 views1 page

    Letter of Demand

    Uploaded by

    acemakhubo
    The letter is from First National Bank to a customer regarding an overdrawn transactional account. The account is overdrawn by R293.98. The bank demands payment of the overdrawn amount within 15 business days, otherwise various actions may be taken including legal action, account closure, and limiting online banking access.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    First National Bank

    1 First Place Bank City


    Cnr Pritchard & Simmonds Street,
    Johannesburg, 2000
    Email: info@fnb.co.za
    Web: www.fnb.co.za
    Tel: +27 (0) 87 736 2247
    International +27 (0) 11 369 1111

    15-FEB-2024
    REF: 3566736501

    *MULTIBRAND DIRECT (PTY) LTD


    2293 ZAMBIA STREET
    KATLEHONG
    1445

    Dear Sir/Madam

    RE: LETTER OF DEMAND: PAYMENT OF OVERDRAWN AMOUNT ON TRANSACTIONAL ACCOUNT

    Account Type : FNB Business Account


    Account Number : xxx6859
    Overdrawn Amount : R293,98

    1. In terms of the Transactional Agreement (the “Agreement”), applicable to your account, you have agreed to the
    following: You may not request or apply for a credit agreement in the form of an overdraft facility or loan by
    instructing us to process a payment instruction where there is no available balance in your transactional account.
    In other words, you may not give us an instruction to process a payment on your account if you do not have the
    funds available in the account, which could result in the account going into excess or to become overdrawn
    without having a credit agreement in place with us. We will not honour payment instructions where there is no
    available balance in your transactional account. However (in exceptional circumstances, due to an error or at our
    discretion) we may honour payment instructions where there is no available balance in your transactional
    account. We have the right to immediately demand repayment from you of the amount overspent on your
    transactional account (the amount with which the payment instruction(s) amount was more than the available
    balance in your transactional account). If you do not make payment of the overspent amount when demanded to
    do so, we may recover all costs incurred in the recovery process as allowed by law. You will be liable to pay fees
    on the account. In general, that you not allowed to overdraw on your account.
    2. We advise that you are in breach of the Agreement in that your account is in overdrawn in an amount of
    undefined (the “Overdrawn Amount”).
    3. In order to rectify this situation, we propose that you pay the Overdrawn Amount within 15 (Fifteen) business
    days of delivery hereof.
    4. If you fail to pay the Overdrawn Amount within 15 (Fifteen) business days from delivery of this letter we may
    proceed to enforce the Agreement, place a hold on your account, claim interest, claim all costs incurred in the
    recovery process from date of demand up to date of final payment, terminate the agreement and close your
    account without any further notice to you.
    5. In addition to the above we may also restrict, limit, or suspend functionality on your online banking profile, which
    in turn will negatively impact your ability to transact on the online banking platform.

    6. Should you fail to adjust the Overdrawn Amount and there are linked accounts in your name, on expiry of the
    letter the bank can apply a set off.

    7. We recommend that you act on this letter as a matter of extreme urgency. If you have any additional queries
    regarding this matter, please do not hesitate to contact us at 087 736 2247.

    Regards
    FNB Commercial

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