1 reviews | Active since Jun 2023
Unacceptable Delays from Investec – Bond Cancellation Figures Still Not Issued After 3 Weeks
I am writing to express my extreme frustration and disappointment with Investec’s handling of a simple bond cancellation request, which has now been unnecessarily delayed for over three weeks – holding up an entire property transfer process.
Here is the timeline for context: 25 July: Lawyers requested seller’s bond details to obtain cancellation figures. 31 July: Follow-up email sent to the seller regarding bond account and private banker details. 7 August: Another follow-up sent. 8 August: Seller’s private banker details were finally received, and cancellation figures were requested from Investec. 15 August: Still NO cancellation figures received. The private banker advised the request is “with the credit department” and that the figures will be sent once final amounts are calculated.
This is unacceptable. It’s now 15 business days since the initial request and a full week since your team had everything they needed. Most major banks issue cancellation figures within minutes on their platforms. Why is Investec – a private bank claiming to offer “premium service” – taking this long?
This delay is not only highly unprofessional but is also jeopardising a property transfer, costing time and potentially money to all parties involved. The level of inefficiency and lack of urgency from Investec is staggering.
We are demanding that this matter be escalated immediately to senior management and that the bond cancellation figures be issued without fail by close of business on Monday (19 August). We cannot afford to wait any longer. This poor level of service reflects terribly on your brand. I hope this complaint serves as a wake-up call – your clients (and everyone involved in these transactions) deserve better.
Had you read my complaint properly, you would have noted that I am the purchaser of the property in question — not your client — and yet I am the one chasing your team to execute what is, by all accounts, a basic administrative function. Other banks are able to complete these requests promptly and digitally, without requiring the involvement of a “Private Banker.”
It’s frankly astounding that an institution positioning itself as a prestige private bank continues to demonstrate such an inability to perform at even a standard retail banking level. The brand may sell exclusivity, but the service delivered has been anything but exceptional.
Had you read my complaint properly, you would have noted that I am the purchaser of the property in question — not your client — and yet I am the one chasing your team to execute what is, by all accounts, a basic administrative function. Other banks are able to complete these requests promptly and digitally, without requiring the involvement of a “Private Banker.”
It’s frankly astounding that an institution positioning itself as a prestige private bank continues to demonstrate such an inability to perform at even a standard retail banking level. The brand may sell exclusivity, but the service delivered has been anything but exceptional.