MT
Mike T

1 reviews | Active since Sept 2021

14 Sept 2021, 15:39

Delayed transfer of funds from Standard Bank to other banking accounts using the Banking apps.

In trying to transfer funds to beneficiaries using the banking app, Standard Bank holds the funds in a 'supension' account for considerable periods of time (whether funds are transferred immediately at a cost, or not). The funds are removed from the payees account immediately. Is this a way of Standard Bank making additional revenue? With Standard Bank to Standard Bank transfers there is no option to do "immediate" transfers, just a promise that the funds will be transferred within 12 hours. With other banks the bank transfers are virtually immediate in my experience. With Standard Bank, even with "immediate" payment to get the funds released requires a call to the bank to get the funds released in any reasonably short time.

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Replies (1)
Standard Bank
Standard Bank's reply15 Sept 2021, 01:12
Official
Hello Mike T
  
Thank you for posting your comment. 
 
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. 
 
We apologize for the inconvenience and undue frustration, this has caused.  
 
We greatly appreciate your continued support.  
 
Kind regards
 
Complaint Resolution Centre
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