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Sarah C

1 reviews | Active since Apr 2020

30 Apr 2024, 11:03

Making interest off wire tranfers

Bidvest is one of the banking partners in South Africa for Wise wire money service and seems to be in the habit of hanging on to other people's money for a considerable amount of time. I had a gift of cash sent to me from.my sister in Australia this week via Wise. The money was sent 9am yesterday morning and I have been informed it will only be released on FRIDAY May 3. That's FIVE DAYS. This happens every time that Bidvest is involved! They held up money at Christmas and New Year too. They obviously take advantage of public holidays to really ***** their customers.. Wire transfers in the rest of the world are immediate but not in South Africa. I sincerely hope that Wise ditches Bidvest as their banking partner here as Bidvest are probably sitting on a lot of people's money who regularly send to their family from overseas and making a fat amount of Interest. Making someone wait five days for a wire transfer is surely *******? I have been told 48 hours is the maximum. But Bidvest probably has very fancy lawyers and plausible stories galore. Its absolutely disgusting how they can sit on funds for five days? Surely there is a regulating body somewhere that can stop this appropriation of other people's money to fatten their own purse? There are people out there that absolutely depend on the wire transfers their families send, do they get acrewed over too?

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Replies (2)
Bidvest Bank
Bidvest Bank's reply30 Apr 2024, 13:01
Official
 
Hi there 
 
We apologise for this inconvenience 
May we please have your ID/Account number so that we can escalate this with our team as soon as possible 
 
Regards 
Bidvest Bank Team 
 

Bidvest Bank
Bidvest Bank's reply30 Apr 2024, 17:03
Official
Thank you 
 
We have escalated this & the Customer Service team will be in touch 
We apologise for the inconvenience once again 
 
Regards, 
Bidvest Bank Team