Bad Experience: Standard Bank

So I had a student achiever account with Standard Bank a long time ago. When I started working I moved to First National Bank to get my payroll running on 26 instead of month end. I stopped using Standard Bank account since then until today. To my surprise they are telling me that I owe them R2000 (odd).

My frustration is that they don't have a proper churn process in place, for which other banks do. ABSA has the churn model in place, where...if you do not transact from their account for over 3 months (money coming in and /or money going out), they call you to find out what is the reason, they try to retain you and so forth, and if you don't wish to continue with them, they close the account.

Their account was R350/R450 balance before closing. Which is reasonable because they are not a **** or trying to get customers into debt.

I am disappointed that Standard Bank doesn't have a similar process in place, they wait for 5 years and once your account has accumulated enough debt (overdraft) then they call you demanding payment.

My account didn't have an overdraft, fine, and I am 100% sure that had I used the account to swap a meal desperately at a retail store...it was going to decline. But they are comfortable adding an overdraft of service & nonsense fees to your account, without prior notification.

I will never bank with a bank that is cash milking, inconsiderate of their customers, and that is a *********, and I will make sure my circle of people is aware of this incompetency. A bank that doesn't have a simple churn model in place, you start to wonder what else they don't have...Integrity, customer care the list goes on.

The regulator need to review this for the sake of all customers. Because clearly Standard Bank is abusing customers.