86-Year-Old Denied His Investment by Standard Bank

My father invested R10,000 with Standard Bank in 1987. He still holds the original investment document, which clearly states that funds will only be paid on presentation of the original document.

Now, at 86 years old, he rightfully expects to enjoy the rewards of his careful investment. Never did he imagine that placing his trust in one of South Africa’s biggest banks would turn out to be such a risk.

Standard Bank has refused to pay, claiming they no longer have records of this investment. This is not acceptable. Customers cannot be penalised because a bank has failed to securely keep records for the expected duration of a long-term investment.

It is deeply unfair and distressing that, after a lifetime of loyalty and trust, my father is now being denied what he was promised. We call on Standard Bank to honour the investment and pay out at fair market value.