bB
breakfree B

1 reviews | Active since Nov 2016

13 Dec 2025, 01:04

Nothing exclusive about Standard Bank Private Banking

Started banking with Standard Bank in 2006, doing my first year, but I now think that the bank is failing to adapt, nor does it understand what it means to be a private client.

On the 3rd of December 2025, I sent the email below and, to this day, haven't received a call or an email following up on my query. Below is the content of my email.

"Dear Standard Bank Private Banking Team, I am writing to express my deep dissatisfaction with the service from your Private Banking division. After being required to authenticate myself three separate times during one engagement, the consultant assured me that the matter would be escalated and that I would receive feedback the following day. Unfortunately, to date, I have not received any follow-up call, nor have the funds I urgently needed been processed. This delay has caused significant inconvenience. What troubles me even more is the expectation that I must read out my personal information aloud in a public space, only for me to thereafter authenticate the exact same information via the Standard Bank application. I fail to understand the logic or necessity of this duplication. It is counterintuitive and, frankly, irresponsible from a privacy and security standpoint. As a private client, I had assumed that your processes would reduce red tape, not multiply it. My current experience suggests the opposite. Instead of receiving a seamless, relationship-driven service, I feel as though I have been turned into a messenger who must repeatedly relay information between various bank divisions. I had expected that I would request a service, my private banker would liaise internally on my behalf, and once the matter was finalised, I would simply authorise the transaction. That is the very essence of what "private banking" should offer. Yet it appears I am doing the very administrative work I sought to avoid by subscribing to this service. This raises an important question: What is the point of being a private banking client if there is nothing exclusive about the experience? Moreover, what is the point of authenticating myself securely on the app if I must first shout out my personal details—such as my full name and ID number—thus exposing information that places my account at even greater risk? To illustrate the frustration: I was called and asked, "Are you B******x M******?" only to be asked moments later to say my full names again, followed by a series of repetitive and unnecessary questions including my ID number. This is inefficient, intrusive, and not befitting of a private banking environment. For clarification purposes, why must clients disclose personal information publicly when authentication can be securely completed through the app? I look forward to a prompt and satisfactory response, as well as immediate resolution of the outstanding matter."

0
Replies (4)
Standard Bank
Standard Bank's reply13 Dec 2025, 08:17
Official
Dear Fumi 

Thank you for bringing this issue to our attention. 

As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of. 

We sincerely apologize for any inconvenience or unwarranted frustration this has given you. 

Kindest regards
Standard Bank Hello Peter Team 
*** 
Standard Bank
Standard Bank's reply15 Dec 2025, 13:57
Official
Dear Fumi 

Our Private Banking Leadership team has confirmed to have been in contact with you to address the concerns raised.

Please let us know should you need any further assistance. 

We will be closing this matter on our side.

Kindest regards
Standard Bank Hello Peter Team 
*** 
bB
breakfree B's update15 Dec 2025, 15:04
Reviewer Update
I acknowledge receipt of Standard Bank’s response and confirm that both the Head of Private Banking, Mr. Vusi Buthelezi, and Ms. Thandeka Mathibela have reached out to me directly.
They have assured me that efforts are currently underway to align their systems to ensure a more seamless service experience. There is a clear acknowledgement that the existing processes are unnecessarily lengthy and that improved technology integration should significantly reduce the process.

I am satisfied with the response received. While I understand that system changes do not occur overnight, I am encouraged that a review process is in progress. As long as these improvements remain on the agenda, I am content.

I trust that over the coming months the process will improve.

BM
Standard Bank
Standard Bank's reply17 Dec 2025, 07:16
Official
Dear Fumi 

Thank you for the feedback.

We will certainly share this feedback with our Leadership team.

Continue to have a great day further.

Kindest regards
Standard Bank Hello Peter Team 
***