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Francis B

1 reviews | Active since Feb 2020

03 Feb 2020, 20:44

20 YEAR 32 DAYS NOTICE INVESTMENT ACCOUNT CLOSED WITHOUT MY INSTRUCTION AND OVER R 100 000.00 UNACCOUNTED FOR AND NO URGENCY ON THE PART OF STANDARD BANK

In September/October of 2000 when my first born son was born I opened a 32 days notice investment account. I have been paying R500.00 per month by stop order since until now. I did the same for two other sons from 2003 and 2006 respectively. My son was suppose to have been starting university this year if he had done well, unfortunately he did not do well. So I needed to register him to upgrade his matric results.

I took him with me to the bank to process an early payment and i was told at first that there was no account under his ID. Then i was told the account was not successfully opened and finally I was told the account was closed in 2018 and there are no funds in it. This is ab account that had well over R 100 000.00 before 2018 and i did not authorize anyone to close that account.

I showed them some earlier statements from the bank of that account and then they said they will send a call to their IT and they will email me transactions on that account dating 5 years ago. It is now almost 3 weeks and I have not heard from them.

The other accounts for my other two sons are okay. I wonder what they think I am going through wondering what happened to an investment of 20 years. Life is so so painful and human beings do not care at all for the well being of fellow human beings. I would like to know what happened and where my money is at?

TO THE BANK R 100 000.00 IS NOTHING BUT TO A PARENT WHO TRIED THROUGH SACRIFICE AND DENYING HIMSELF ITS A LOT OF MONEY AND EFFORT AND YOU ARE MADE TO FEEL YOU ARE ALONE.

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Replies (1)
Standard Bank
Standard Bank's reply04 Feb 2020, 04:44
Official
 
Hello Francis
  
Thank you for posting your comment. 
 
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. 
 
We apologize for the inconvenience and undue frustration, this has caused.  
 
We greatly appreciate your continued support  
 
Kind regards, 
Complaint Resolution Centre
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