EB
Edward B

1 reviews | Active since Jul 2022

15 Sept 2022, 09:10

Forex, supposed to be simple....not quite.

I have been struggling now for 9 days to get money out of Forex. On the 7th of September, an incoming payment is showing but stuck in a pending state. I have spoken to technical support, the first call didn't yield anything. The second call said that they will resend the prompt to accept it, however I am still waiting. Other major banks provide your money within a few hours not 9 days and counting. Please advise why it is so hard to get money out of forex that should be a simple process and please do not tell me to wait another 48 hours as that will be Monday as that will then be close to half a month. Please can you sort this out today, you guys say that it is so easy to use Forex with Discovery, not in my case, it is more frustration than anything, just like locking me out of my account because of a piece of paper. Are you guys targeting customers by blocking accounts and then holding onto payments so that they cannot access it?

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Replies (8)
Discovery Bank
Discovery Bank's reply15 Sept 2022, 14:35
Official
Hi Edward 

Thanks for reaching out. 

I see that this has been escalated with our payments team, I'm awaiting feedback from them and I also advised that you receive feedback from the person handling your case. 

I'll also be monitoring the case closely and keep you updated. 

Regards
Andile
EB
Edward B's update16 Sept 2022, 12:35
Reviewer Update
Hi Andile, it is past 12 on a Friday and still no resolution or communication. Here is my comment this morning as well:


Hi Andile, how long is this going to take? Surely a phone call can be made and this resolved. That money is not going to stay around forever and it will bounce back, secondly, we have lost another week with no resolution. You would think, hey the customer is now waiting 10 days and they still don't have access to their money and we running out of time, let's get this resolved. I am highly disappointed at the lack of communication and turnaround time to resolve this issue.

If you guys cannot or don't know how to resolve it, then speak up.

Kind regards
Edward
EB
Edward B's update16 Sept 2022, 16:30
Reviewer Update
Hello Andile, it is almost close of business on a Friday and I have not heard a single word from you or the team and still no access to my Forex. Can you please release my money now, seriously.

EB
Edward B's update18 Sept 2022, 19:04
Reviewer Update
Hello Andile, can i have access to my money now. You have had it long enough for whatever reason, i dont think any of you know why. As i said, 7 days passed again and im yet to receive a resolution, explanation which i think you dont know yourselves.
Discovery Bank
Discovery Bank's reply20 Sept 2022, 07:15
Official
Hi Edward

I do apologise for the delayed response. 

I've received feedback from the relevant team and we've requested the Treasury team to manually return the funds as there was a currency mismatch. 

I've also requested the banker to give you a call to provide you with feedback. 

Regards
Andile
EB
Edward B's update21 Sept 2022, 08:41
Reviewer Update
Hi Andile

I spoke to the people on the other side and they advised the money was not converted at all. The conversion has probably taken place on your end. Well we on the 21st of the month and still no money in my account or an option to accept it.

Last time i was told it would take 48 hours, we are 9 days past that already.

Regards
Edward
EB
Edward B's update22 Sept 2022, 08:57
Reviewer Update
Hi Andile

Just as i suspected, 48 hours has passed and nothing. I called again now and the same old story, we have to get hold of the payments department and it should take 48 hours....these words are getting old

the most famous one is , i will call you back with an update....wow...2029 will come and i will still be waiting for that call...

Get someone in the payments department to call me so we can get this resolved. To date, all that has been told to me is wait 48 hours, here is a reference number, would you rate the call.

discovery bank when handling forex are the juniors in the banking space. You have a lot of improvement to do. For one, you do not care about your customers, if you did, this would have been resolved on the 7th when your system flagged an issue which nobody bothered to attend to.

With the fact that you only have a certain number of days to get this issue resolved, your top priority should have been getting the issue resolved, not having people tell you to keep waiting 48 hours. If i didn't call in, i would be in 2026 still waiting "48 hours" for my payment.

Educate your team, there is a major disconnect between the call centre and the payments team. Cross pollinate so you have the skill. If you did this, many of the calls will be resolved. Isolating your payments team from everything is where you are going to lose and it is going to bite you one of these days.

So get your payments team to call me so we can get this resolved today, not in 48 hours.

Regards
Discovery Bank
Discovery Bank's reply23 Sept 2022, 07:13
Official
Hi Edward

Our payment's team has confirmed that the funds were successfully returned, please do check with the remitter bank

Regards
Andile