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mjmoelich M

1 reviews | Active since Apr 2016

21 Apr 2021, 12:27

Not allowed to make total payments of more than R500k in month

My wife started arbitrage trading. She usually trades with R250k at a time. Two trades a week. R250k goes out, R250 + profit comes back in. So you always use the same R250k. Standard bank tells her can only do 2 payments a month because her EAP limit is R500k. She called them, they said must go to branch to lift. Went to branch, they say cannot lift higher. how is this possible. So no standard bank client can do payments of more than R500k collectively in a month?This is shocking. If this is not resolved this week I am closing wife's account which she had since childhood, and moving her to FNB to continue trading. So if you bank with Standard bank, there is no way of utilising your Foreign investment allowance of R11m per year.

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Replies (3)
Standard Bank
Standard Bank's reply22 Apr 2021, 00:36
Official
Hello Merwe Moelich, 
  
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
 ********** 
********** (fax)
 *********** 


 
mM
mjmoelich M's update22 Apr 2021, 12:25
Reviewer Update
Still no contact made. Please contact to resolve.
mM
mjmoelich M's update26 Apr 2021, 10:22
Reviewer Update
Still not reply. They just post replies to boost their reply stats. Terrible service!