Messed up home loan

I’ve had a bond with Standard Bank since April 2002. I’ve never defaulted on my payments. Payment has gone through via debit order from inception, with my paying extra into the account when possible, in order to reduce the term of payment and to give myself a “cushion” if ever needed.

On the 12th July 2017 at 12.44pm I informed Standard Bank that my bank details had changed, giving them the new details of the account they should now run my debit order through. This they acknowledged at the time and they have a recording of such.

In February 2018 I started to get messages to the effect that my home loan was in arrears and that it needed my immediate attention. This was something I could not understand as I’ve always had a debit order on the account.

When I was called by them I was informed that my account was in arrears. I queried this and asked about the debit order. I was rudely informed by Henrietta (the team leader) that it was probably because I didn’t have sufficient funds to cover the amount. To which I informed her that I have about 8 times as much as they need. She said the matter would be investigated.

The outcome of the investigation that Standard Bank did, was that the client services lady ( Rafeeah Suliman) had cancelled the old account but forgot to install the new account details, and therefore my debit order stopped going through. As a result the extra monies I had paid in to get ahead of myself were used to pay the bond repayments (without informing me). Then when they had used that up, they started telling me I was in arrears.

I have now been black listed because the debit orders didn’t go through, and I have lost the “cushion” I had worked so hard to accumulate for myself, not to mention the interest accumulated. This all being as a result of their staff member’s incompetency.

Although Standard Bank home loans has acknowledged that it was their fault, they have informed me, very arrogantly, that it is my fault as I should have checked my bank statements (which I only get quarterly). They have, however, offered me a letter of apology, which I have yet to receive and have told me they will consider refunding me the service charges. Really? Big deal.

DON’T TAKE OUT A HOME LOAN WITH STANDARD BANK !!!