BEWARE! STANDARD BANK HOLDING A PAID UP LETTER AFTER SETTLEMENT AMOUNT WAS PAID IN THE CORRECT TIME FRAME

I require immediate assistance following numerous calls and emails to various departments trying to resolve an issue that I, a loyal Standard bank long-serving customer am burdened with.

I recently received a call from Standard Bank with reference to the final settlement of an already settled vehicle finance taken out on a Hyundai Accent 1.6 Fluid.

I have been the recipient of a refund in the sum of R3928.96 with the reference "Hollard Refund" after four months of disputes on the 13th January 2022. This was the amount paid out to me after months of phone calls to the standard bank's insurance department requesting them to remove their insurance from my vehicle as I was under my own insurance ie Miway at the time yet they were still charging me R1300 plus my normal car repayments every month.

On the very same date, Hyundai dealership in springfield received a letter from Standard Bank indicating the settlement value of the vehicle being R132 683.46 which was valid up until the 19th January 2022. This request was made by the dealership as I wanted to trade in and upgrade my vehicle at the time.

The dealership subsequently made a full settlement of this agreement on the 17th January 2022.

The agreement indicating the full settlement figure is of a contractual nature as it contains a signature as well as it is an official document from Standard Bank. The acceptance and honoring of this document is shown by virtue of full payment of the stipulated amount to Standard Bank two days before the validity of the document expires.

It is unsatisfactory and distasteful in the approach that Standard Bank has followed that after settlement has been made, to be contacted for a further sum of money. The date of the letter and refund was the same and the bank ought to have known prior to making the refund what the actual value of the settlement is. Requesting or stipulating the settlement amount has now been deferred after the transaction has been concluded and a settlement letter being requested from yourselves is ******** to say the very least.

I request the settlement letter by close of business today as the payment was made in full and I am not willing to go back on a document that was already agreed upon.

Is this how Standard bank treats a loyal long-serving customer?

I will have no option but to escalate this matter further and pursue the legal route if I do not receive my paid-up letter and this matter is left unresolved.