Complaint Against Standard Bank – Failure to Adhere to TCF Outcome 5 and Delays in Bond Cancellation

I am lodging a formal complaint regarding the unacceptable conduct of Standard Bank in handling the cancellation of my mother’s bond. Standard Bank has failed to adhere to Treating Customers Fairly (TCF) Outcome 5, which requires that customers are provided with products and services that perform as expected, and that any changes or processes are executed without unreasonable barriers or delays. Despite repeated follow-ups, there has been an ongoing and unreasonable delay in the cancellation of my mother’s bond. This delay has directly caused a setback in the signing process and has negatively impacted the sale of the property, as the conveyancing attorneys are unable to proceed any further without confirmation of bond cancellation. Of serious concern is the contradictory communication from Standard Bank. My mother received an SMS confirming that the bond had been successfully cancelled, only for the bank to later deny this. This inconsistency reflects a lack of proper process management and has created confusion, stress, and unnecessary delays. My mother is a chronic patient, and the stress and uncer*****y caused by this negligence have had a direct negative impact on her health and well-being. The emotional and financial strain resulting from this situation is unacceptable. It is important to note that my mother has been waiting for an extended period for this matter to be resolved, with no clear communication or accountability from Standard Bank. Should there be any further delays or continued gross negligence, my mother will have no choice but to escalate this matter formally to the Ombudsman and the Financial Sector Conduct Authority (FSCA). We request urgent intervention and immediate resolution of this matter, including: Written confirmation of the bond cancellation Clear communication with the conveyancing attorneys to allow the process to proceed without further delay Accountability for the miscommunication and delays experienced Standard Bank is expected to act with professionalism, transparency, and urgency in resolving this matter.

Miss kewana