LM
Lwazi M

1 reviews | Active since Aug 2023

30 Sept 2023, 23:57

Never ever draft a Will with Standard Bank

I have concluded that Standard Bank has this ugly Culture of delays, NO Care and has NO Accountability. I curse the day that my mother drafted a Will with Standard Bank and would like to warn people about having a Will at Standard Bank, your families will go through the worse times(Financially) after your passing. The Financial Advice is all about Standard Bank benefiting from Executor's fees and your family will get Nothing But will have to pay a ridiculous Shortfall. It will be business as usual at Standard Bank while your family is suffering financially because of the Shortfall caused by them. My mother had No Debt( besides a claim on the Estate by Standard Bank Credit Card for R40000). However, more than R200000 has been paid into the Estate, including proceeds from Sale of Property but still there's a Shortfall. I still don't know the purpose of having a Financial Advisor and a Will at Standard Bank, when they can't do a financial needs analysis and see that there's going to be a Shortfall. Again, this proves that it all about Standard Bank and not looking after my mother's finances. ********* business conduct, poor service and lack of care.

My family has received the worse service at Standard Bank, I have written tons of messages to the bank and there's no Accountability in that institution. It has been more that a month now, pleading with Standard Bank to address my issues but there's no response. It has been 13 months my mother passed on but every day we have to talk about her because of Standard Bank delaying everything. My mother had a Will with Standard Bank, surely she thought that everything will go smoothly and there won't be any confusion or delays. Instead, there has been family feuds, more questions than answers and financial difficulties.

Standard Bank can just leave Financial Planning and Wills, to other financial institutions that are serious about giving their customers a peace of mind. Standard Bank has failed dismally , in dealing with an Estate of a 76 year old woman, a normal citizen, No claims against the Estate and No disputes. Instead , Standard Bank has caused family feuds and financial losses because the Executor is Standard Bank and now the family is unable to take responsibility of certain things related to the deceased But the Executor(Standard Bank) continues to delay this matter. Shame on you Standard Bank, can you take accountability and resolve this matter. Please show some respect and acknowledge in writing(by email). On this platform you respond as if everything is being address but days and weeks have passed without any response from your Consultant. Standard Bank your service and communication has been very pathetic.

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Replies (7)
Standard Bank
Standard Bank's reply01 Oct 2023, 08:42
Official
Good Day Lwazi

This is not the level of service we strive for. 

We understand your frustration and are here to help. 

We can assure you that your matter is now in the right hands. 

Our team will be in touch. 

Kindest regards
Standard Bank Hello Peter Team 
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Standard Bank
Standard Bank's reply02 Oct 2023, 16:05
Official
Good Day Lwazi

We hope you are  well. 

We made three attempts to reach you on your mobile and sadly could not get hold of you. 

We have sent an email so that you can reach out to us at your convenience. 

In the meantime, we will be closing the matter but we do hope you will contact us if you still need any assistance. 

Kindest regards
Standard Bank Social Media Team
LM
Lwazi M's update04 Oct 2023, 07:43
Reviewer Update
Good day I do not have any calls from an unknown number on my phone and I asked that you contact my brother. I had requested that Standard Bank respond in writing and Not to ask Standard Trust to respond. I had raised issues and those issues are not being addressed by Standard Trust, they are saying saying the same thing. The response from Standard Trust is unpleasant and they are blaming the family for not paying the Municipality.

This is very exhausting and Standard Bank is showing that they do not care. I'm going to share the response from Standard Trust. Please see for yourself the unpleasant manner at which Standard Bank is dealing with this matter. No accountability and responsibility is always passed on to the Unknown Consultant.

Please stop asking Standard Trust to respond, can Standard Bank address the initial query , I'm tired of the push back from Standard Trust and not even addressing any of the issues.

Standard Trust responding:
Good day Aviwe and Lwazi I refer to the above matter and your Hellopeter complaint dated 30 September 2023. “My mother had no debt”, “no claims” Your mother had the following accounts:
  1. RCS Game
  2. Fashion Express (TFG)
  3. Edgars
  4. MTN

  • We await confirmation of any amounts owing.
“However more than R 200 000.00 has been paid into the estate”
  1. Erf NU103004 is to be sold for R 160 573.00. This sale cannot proceed as there are not sufficient funds in the estate late banking account to pay the rates clearance amount. This amount continues to increase as the account is not paid.
  2. The beneficiaries have been cc’d in the correspondence to the attorneys.
  3. According we have not collected the funds for the property. The sale is by FLISP and will only be release by Human Settlements on proof of registration of transfer.
  4. The Standard Bank access account had a closing balance of R 21 226.21 and Old Mutual Paid a total of R 543.18.
  5. There would not have been a shortfall in the estate has the municipal accounts been paid monthly. We kindly request that same be paid monthly in order to avoid further arrears.
We note your e-mail in which you state that you will not be paying the shortfall as you await a response from the banking division. We have requested that someone contacts you in order to discuss the concerns raised.
Standard Bank
Standard Bank's reply04 Oct 2023, 07:52
Official
Dear Lwazi, 

Thank you for alerting us to this. We would like to make sure your matter is resolved. 

We have reached out to the relevant team so that we can ensure a speedy resolution. 

Please be on the look out for a call from our team. 

Kindest regards, 
Standard Bank Hello Peter Team 
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Standard Bank
Standard Bank's reply10 Oct 2023, 07:40
Official
Hi Lwazi

Thank you for providing us with your information. Our team will look into this matter and provide feedback. 
  Please be on the lookout for a call from our team. 
 Kindest regards, 

Standard Bank Hello Peter Team 

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LM
Lwazi M's update12 Oct 2023, 11:58
Reviewer Update
This is really frustrating and Standard Bank does not care. This is poor service, it is almost 2 months now , Standard Bank has been promising that someone will contact me but Nothing. I really hope this is not how Standard Bank treats all its customers. I have received the worse service from Standard Bank and it still continue. Standard Bank only acknowledge on this platform and promise that a Consultant will contact me, since August.

I have tried to ignore this bad treatment, by getting someone else to do a follow up on this matter But No I think about this every hour of the day. This is really bad for my health and I had told Standard Bank that I'm disabled and chronic, do not need any of their disrespect/delays. I still believe that Standard Bank would not be treating me like this if I was from a prominent family or I was more educated. It is unspeakable and inhuman how they are treating me and my family. It has been a very painful experience with Standard Bank using their muscle to shift blame and not taking any accountability for anything.
Standard Bank
Standard Bank's reply12 Oct 2023, 12:16
Official
Good Day Lwazi

The matter is being treated as a priority and our team is ensuring that it is resolved timeously . 

We will revert with feedback as soon as possible . 

We appreciate your patience. 

Thank you. 

Kindest regards 
Standard Bank Hello Peter Team 
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