Formal Complaint Regarding Unjustified Account Freezing

I'm horrified and disappointment with the way Standard Bank Transactional ***** Investigations has handled our account following a deposit reversal request made in error by one of our clients.

A client mistakenly initiated a reversal with her bank for an amount of R7,000. Without any prior communication or verification from Standard Bank, our entire account was frozen. This action was taken despite the fact that the matter involved a single disputed transaction — and not our entire banking profile.

To make matters even more unacceptable, the client cancelled the dispute with her bank (FNB) yesterday and explicitly instructed them to notify Standard Bank. Despite this, more than 24 hours later, our entire business profile with Standard Bank remains frozen. Over R5,000,000 has moved through this account recently, and we now have no access to any funds whatsoever.

Why would Standard Bank freeze an entire company’s accounts instead of ring-fencing only the disputed amount? How is it acceptable to shut down a fully compliant and operational business over a resolved dispute of R7,000?

Due to this action, we are now unable to pay salaries, fuel our buses, or continue normal operations. Month-end is hours away, and numerous families depend on us. This situation is entirely avoidable and is causing severe operational and personal harm.

We have placed over 14 calls to Standard Bank and have yet to receive a single call back or any meaningful assistance. The lack of communication and urgency is shocking.

I am truly disgusted by how poorly Standard Bank has treated us as long-standing clients. We urgently request immediate intervention to unfreeze our account and restore our ability to operate.