BE
Bianca E

1 reviews | Active since Oct 2017

31 Oct 2017, 08:00

Poor Estate Administration

Good Day

I have been waiting weeks for a will of a family member's will. The estate is under R250 000 and has no liquidity as the cash in the estate was meant for a disabled brother. It was to be used for looking after him. That amount is frozen and without the will and allowing the family to take over administration of the estate, it is materially affecting the disabled brother and other family members financially. Furthermore requests have been made in writing to the relevant department with minimal feedback which is not useful in the slightest. Why have a bank hold your will for safekeeping if it is going to inconvenience the family after your death? This makes the grieving process so much more difficult. A will is there to provide peace of mind and efficiency to the family after death. Family members should not be left nagging a bank to assist them. There is absolutely no service delivery here. A simple request to report the death and remove Std Bank as the Administrators was given. To date there has been no communication as to what is happening, where the will is, what the will says. It seems that Std Bank only has interests when they will be making money out of a dead person. No care about the family grieving and wanting to wrap up the estate. Since there is no liquidity it is pushed to bottom of the pile. This is not acting in the client's best interest. This is not in line with Treating Customers Fairly. Standard Bank is a financial services provider and need to prescribe to the FAIS ACT, Financial Sector Regulation Act, thus Treating Customers Fairly in terms of Market Conduct. TCF is supposed to be present everywhere. This does not seem to be the case. All we asked for was the will and proof that the death has been reported to the Masters in the prescribed time and that Standard Bank are no longer registered as Administrators so that a family member can take over. A simple request that has not been met for 3 weeks after numerous emails. I definitely wont be giving my will to Standard Bank.

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Replies (3)
Standard Bank
Standard Bank's reply31 Oct 2017, 11:32
Official

Dear Bianca Engelbrecht

Thank you for posting your comments.

The matter is receiving attention and we will be in contact with you shortly.

Regards

Complaint Resolution Centre

Tel: ***

Email: ***

Standard Bank
Standard Bank's reply31 Oct 2017, 13:52
Official

Dear Bianca Engelbrecht

Thank you once again for your posting.

An email has been sent to you requesting more information.

Kind regards

Clint Petersen

Complaint Resolution Centre

***

Standard Bank
Standard Bank's reply14 Nov 2017, 10:19
Official

Dear Bianca Engelbrecht

Thank you for your posting.

I refer to my email correspondence and can confirm that the matter is being addressed with the executor of the estate.

Kind regards

Clint Petersen

Complaint Resolution Centre

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