MR
Mulalo R

1 reviews | Active since Jul 2015

04 Mar 2021, 13:31

Money ******ion Duplicated transactions and honouring fees

I think standard bank banking system has so many loopholes. Im starting to wonder if these loopholes are not an intentional money making strategy to ****** money from Companies that do not have auditors to balance their books or individuals who are not as exposed to information or the exposure to their banking rights.

I have since been noticing these charges called 'Honouring fee' 'Account Management fees' e.t.c . Theres an extent where standard bank deducted money fro my business account months later honouring a withdrawal which they claim I did and their system never deducted it irrespective of the fact that it was performed when I had funds in my account.

I think money is ******ed monthly from clients for transactions that only benefit the bank via a set up of banking rules that dont have any benefit to the clients but the bank.

I noticed this month on the 3rd of March 2021 that they have honoured more than 3 transations on duplicate further attracting a negative balance of over R2224 on my cheque business account which leaves me very inconvenienced. Those transations where honoured on ovedraght facility to which my Company doesnt qualify for with the bank and had not sign with the bank to authorise such.

I would like for this matter to be sorted out today the 4/03/2021 for my convenience and have those transactions reversed and all fees that were charged as a result reversed. I suspect all the honouring fees that I have been charged where due to such duplicated transactions and that each time I try to contact the bank I couldnt get answers that fully explain the charges.

The standard bank banking system poses risk on matters of ***** and seem to be too weak to pick any ***** transactions to take place which become a serious concern for me and too much of work to analise each transaction to see if no duplicates as such is sometimes not easy to see when in fact one has funds enough in the account for such transactions to go through other than when they do no have funds where it will attract a negative balance then they see it and report the matter.

I use to have a business account under another Company which I closed due to problems related to the standard bank banking system and charges and now I am experiencing almost the same things under a new Company.

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Replies (1)
Standard Bank
Standard Bank's reply04 Mar 2021, 22:37
Official
Good day Mulalo

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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