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Sphamandla S

1 reviews | Active since Jan 2020

08 Jan 2020, 20:51

Dormant Student achiever account.

Hi,

I need assistance with a student achiever account that has been dormant from December 2018. Last time I checked I had left it with R57 if I am not mistaken and I had gone to a branch in Hayfields Pietermaritzburg to close the account, but, I couldn't because they needed my proof of residence and I didn't have it with me at the time. I had since forgotten about the account and thought that it would close in 3 months since that was written on the documents I signed when I first opened the student achiever account.

This was on the documents I signed in 2012: "If you do not operate on your current account ("account") for 45 consecutive days, then your account shall be flagged as semi-dormant and if you still fail to operate your account for a further period of 45 consecutive days then your account shall be deemed to be dormant, irrespective of the amount of the balance therein. We shall endeavour to contact you telephonically and shall notify you in writing of the dormant status of your account.If despite notification, you still fail to operate on your account and the balance thereon is less than one months fees we shall close your account after a period of 28 days."

Recently, I received a statement from Standard Bank and the account had accrued bank charges and management fees close to R1600. Today I went to a Standard Bank branch to close the account. However, I couldn't close the account the consultant who was helping said that he cannot close my account unless I pay R1700. I was shocked at how much this account has accrued even though I haven't used it since December 2018 and it was supposed to be close after 90 days of being dormant. The consultant advised me to phone the centre that deals with credit collection, I spoke to a consultant on the phone who refused to hear my story and assist me with stopping the accruing fees or even to close the account.

I need urgent assistance with resolving this issue and closing this account since it was supposed to have been close in 90 days of being dormant. I would gladly appreciate a response.

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Replies (1)
Standard Bank
Standard Bank's reply09 Jan 2020, 05:13
Official
 Hi Sphamandla

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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