Apparently Standard Bank does not have to verify suspicious debit orders before processing them
Poor security.
I picked up a debit order that I did not authorize on my account and contacted the ***** department immediately by phone and email.
This is what they had to say 5 days later: (Copied from email that I received from Standard Bank) "We profusely apologise for the delay in responding to your email. Please be advised that the bank can assist in tracing the contact details of the company that has debited your account.
Please note that there is a service fee of R50.00.per trace for transactions less than 6 months and R90.00 charged for transactions that occurred more than 6 months ago. Please respond with the best time to contact you for authentication purposes, should you wish for the trace to be logged. Also please be advised of a fee of R50.00 should you also wish to reverse the debit order."
This is unfortunately the least shocking part. When I asked how they verify debit orders, the consultant couldn't give me a clear answer. Apparently it's up to the company requesting the debit to verify the transaction.
But wait, there's more. This is an account that I keep for emergencies. So I don't give out my account information. There are no debit orders on it. Where did the ****** get my information and know that my account still exists and has funds in it?
And they ask me R50 to investigate transactions they should have verified in the first place? If I'm lucky they will send me the details of the company wrongly debiting me so that I can investigate and resolve it? And here I thought the bank was supposed to keep my money safe and would do their due diligence.
We’re saddened to hear that this has been your experience. We take these matters very seriously and can assure you that we will be attending to your query with urgency.
We will be taking a closer a look and will get back to you shortly.
Kindest regards,
Standard Bank Hello Peter Team
***
We’re saddened to hear that this has been your experience. We take these matters very seriously and can assure you that we will be attending to your query with urgency.
We will be taking a closer a look and will get back to you shortly.
Kindest regards,
Standard Bank Hello Peter Team
***
Thank you for the number of the organisation the requested the Debit Order. I managed to make contact once. The rest of the time the line goes straight to voice mail.
The lady who answered the call also said that it's a different company to the company details that you provided.
I'd love to know more about your vetting process for companies that you allow to debit your clients accounts, as I can't find this company online and I'm not able to reach them with the mobile number you provided.
After the one call that actually went through, one of the debit orders were reversed. Thank you for that.
Given that money was wrongfully debited from my account, I would still like to know what happened and what Standard Bank is doing to remedy the situation.
Hope to hear from you soon.
Regards
Thank you for the number of the organisation the requested the Debit Order. I managed to make contact once. The rest of the time the line goes straight to voice mail.
The lady who answered the call also said that it's a different company to the company details that you provided.
I'd love to know more about your vetting process for companies that you allow to debit your clients accounts, as I can't find this company online and I'm not able to reach them with the mobile number you provided.
After the one call that actually went through, one of the debit orders were reversed. Thank you for that.
Given that money was wrongfully debited from my account, I would still like to know what happened and what Standard Bank is doing to remedy the situation.
Hope to hear from you soon.
Regards
As mentioned in my previous email, the debit order submitted into your payments system is from a company that I can't find online, and the telephone number you provided goes straight to voice mail.
Other than the fact that I have not given consent, and the only way to contact this suspicious company to ask about it, is via a cell number that goes straight to voice mail.
I've noticed another complaint that also appears unresolved.
https://www.hellopeter.com/standard-bank/reviews/amount-of-r11000-incorrectly-debited-to-my-***
Do I understand correctly then that Standard Bank has no obligation to protect their clients' accounts and personal information? Is it then fair to say that when Standard Bank facilitates payments like debit orders requested by suspicious third parties that Standard Bank does not have to verify these transactions beforehand as their main function according to South African Legislation is to facilitate the transaction?
Does Standard Bank have no security protocols for suspicious transactions?
If you or your loved ones were affected by debit orders they did not consent to, would you consider the matter resolved if your bank gave you contact information (that doesn't work) and told you to resolve the matter yourself?
Regards
As mentioned in my previous email, the debit order submitted into your payments system is from a company that I can't find online, and the telephone number you provided goes straight to voice mail.
Other than the fact that I have not given consent, and the only way to contact this suspicious company to ask about it, is via a cell number that goes straight to voice mail.
I've noticed another complaint that also appears unresolved.
https://www.hellopeter.com/standard-bank/reviews/amount-of-r11000-incorrectly-debited-to-my-***
Do I understand correctly then that Standard Bank has no obligation to protect their clients' accounts and personal information? Is it then fair to say that when Standard Bank facilitates payments like debit orders requested by suspicious third parties that Standard Bank does not have to verify these transactions beforehand as their main function according to South African Legislation is to facilitate the transaction?
Does Standard Bank have no security protocols for suspicious transactions?
If you or your loved ones were affected by debit orders they did not consent to, would you consider the matter resolved if your bank gave you contact information (that doesn't work) and told you to resolve the matter yourself?
Regards
When will you be in touch with me? It's nearly two weeks since I received your last response.
Regards
When will you be in touch with me? It's nearly two weeks since I received your last response.
Regards