Debilitated Financially (once again) due to your Bank's Incompetence

<p>Good day,</p> <p><br />I am a Standard Bank Private Banking and Business Banking client.</p> <p><br />I am contacting you via this channel because I no longer know where to turn. I wish to register my extreme dissatisfaction with Standard Bank’s administrative services, the latest of which has left me in an extremely compromised and debilitated state. Much to my dismay, this is by no means an isolated occurrence.</p> <p><br />I purchased a new vehicle last week, and my previous vehicle, financed through Standard Bank, was settled within the validity period of the requested settlement quote.</p> <p><br />Despite this, the debit order of R 5 743.03 was debited from my account! When I contacted my banker in connection with this, I was told that my vehicle had not been settled, that the settlement amount was R 632.44 short, and that I would still be liable for the debit order! None of this is true! Full and final settlement does not include further debit orders - nowhere in the settlement agreement does it state that further debit orders will still run, and this contradicts the very definition of settlement. In fact, despite the settlement being paid, my vehicle finance account reflects that I owe R 107 162.57! This is extremely distressing!!!</p> <p><br />The banker has now lodged service request *** for Action Rebate, and that I am told that I must wait until 6 June for an investigation! Because of Standard Bank’s utter incompetence in this matter, not only am I now in arrears and severely financially compromised, I also need to wait until next week for Standard Bank to investigate an error on their part! I will therefore not be able to meet my financial obligations - due to the latest in a long string of serious administrative errors created by a bungling bank that I entrust with my finances! This is not only grossly unacceptable and utterly debilitating, since I am unable to operate without access to (my own) funds!</p> <p><br />Further issues I have faced with Standard Bank within the past year include, but are by no means limited to the following:</p> <p>I was invited to a Standard Bank event on 5 June 2015 and offered free Uber transport, which I was subsequently billed R 313.79 for! The refund by Standard bank only occurred on 20 November 2015, more than five months after the event and only after I turned to social media to vent my frustrations! This has left my Uber account suspended! Happy to have my money back, I never queried this suspension until I required Uber services in an emergency!<br />My wife and I nearly were not able to purchase our home due to a string of delays by Standard Bank’s home loans department. Corrections and amendments were not made until numerous requests by both ourselves and our attorneys were made, and the corrections they made introduced new errors along the way! This process took months! As a result of this, we were liable for occupational rent!<br />My banker told me that as a private banking client, I am eligible for an interest rate of prime minus 0.25% on my revolving credit loan, yet I see that my interest rate is 16.54%!<br />On 22 May 2016, one of your ATMs swallowed my card. I phoned your helpline and was instructed to wait 45 minutes for the machine to reset and return my card. An hour of waiting later, my card was still not returned! I phoned back and my card was cancelled. Along with this cancellation, my Internet Banking functionality ceased, and I had no access to any funds! This required me to walk approximately 8 kilometres to my home in bad weather, since I was unable to draw money to pay for vehicle parking, and since the hour’s wait for your broken ATM tal**** up my parking bill, I had insufficient change on me.<br />Your website and radio ads state that loan applications conclude in minutes! My loan application took weeks, despite stressing the urgent nature of it!<br />My original revolving credit application could not be linked to my internet banking profile due to what I am told were “IT errors”. I am disgusted that during this time, the R 50 000 loan was placed in my current account to give me access to it, even though I did not need it all at once, but was forced to have it all in my account (and incur all the interest) because an “IT error” meant that I could not store the unused portion in the loan while retaining access to it!</p> <p>Furthermore, in addition to the financially debilitating issues listed above, I have also lost an inordinate amount of time dealing with this. A breakdown is as follows:</p> <p>Sorting out Uber issues: 5 hours<br />Home loan issues: 2 hours (resulting in several weeks’ dela and R 4500 occupational rent)<br />Loss of access to internet banking: 4 hours<br />Attempting to sort out vehicle settlement and erroneous debit order: 4 hours so far<br />At my current CTC, this amounts to R 3090.40 worth of my time! Add to that the R 4500 occupational rent we had to pay because of your errors and this tallies to a loss of R 7590.40! This does not include the interest I could have accrued on my erroneously debited Uber funds or the interest I could have saved on my revolving credit loan if not for IT errors! Nor does this include the extreme emotional distress caused by these issues!</p> <p><br />I am sure you understand that the above issues, which are just a sample of administrative nightmares I have had to deal with, have rendered me unable to trust your institution with my money. Please rectify all of these errors immediately, so that I may begin migrating to FNB. Of utmost importance to me right now is that my vehicle settlement and debit order refund be dealt with as a matter of paramount priority.</p> <p><br />I would like to stress that all of these issues are Standard Bank administrative issues. My private banking team is in no way responsible for these errors and they are very good at what they do. The issue is with the bank itself.</p> <p><br />Unfortunately still your client (for now),</p> <p><br />Kyle Hauslaib</p>