NM
NEWMAN M

1 reviews | Active since Nov 2013

02 Feb 2024, 07:23

STD Bank insurance deduct premiums for more than 2 years as part of my Bond without a policy number

It has come to my attention that standard bank insurance has never issued me , Newman Easton Mouton, with a policy number, since I started my home loan in 2021 but they have deducted without fail on a monthly basis, an insurance premium as part of my Bond payment. Upon an enquiry yesterday at the Cresta branch, and calling the home loan division from the branch, I was told that on the Insurance is a pending status, and never had there been a policy been issued. They forwarded my home loan statement that clearly shows the monthly deduction. If a policy was never issued, but my funds were deducted from my account, that means it's been done so *******ly by standard bank. I therefore claim all my insurance premiums back from Standard Bank, as money was deducted *******ly from a non existent policy. I will also report the incident to the Short term Insurance Ombudsman, if Standard Bank fail to repay me within a week. Furthermore I will report this on Hello Peter and other consumer platforms.

I find it absolutely disgusting and a disgrace from Standard Bank to have not done there checks and balances and to take money from a client whereby the policy has not come into effect. Your urgent response is required.

I will report this.

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