DW
Damian W

1 reviews | Active since Mar 2009

26 May 2021, 10:15

Non-resident account conflicting messages from bank

I'm not sure where to direct the following query as no one at Standard Bank seems to be aware of the legislative changes with regard to SARB financial emigration.

My query relates as follows - legislation has changed to make the so-called "blocked" non-resident account meaningless and financial emigration can no longer be done either due to the same legislative changes.

When calling Standard Bank, everyone seems to want to tell me that I'll need to do a financial emigration and get a "blocked" non-resident account - both of which are now meaningless.

The legal opinion that I have received is that there is no longer a legislative difference between a resident citizen and a non-resident citizen from an emigration perspective.

What is the alternative process that Standard Bank is putting (or has put) in place for both bank accounts and share trading accounts to account for this as all responses that I have received have indicated that once I emigrate you can no longer offer me any services... I cannot believe this to be true.

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Replies (1)
Standard Bank
Standard Bank's reply27 May 2021, 01:19
Official
Hello Damian
 
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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