HW
Heinz W

1 reviews | Active since Jul 2011

23 Sept 2023, 19:23

SBSA to SBSA EFT not reflecting immediately

I have been banking with Standard Bank since I started working in 1988. I am now 55 so you tell me whether I've been a loyal client or not? I opened my own business in 2003 and as a matter of course, I opened my business account with you to. You have my bond, you've had my vehicle finance, you've had my equipment finance ... you still have my investments ... I have a number of accounts with you ... in these accounts, I have approximately R500 000 that I can withdraw immediately... my bond balance is R50 000 with a value I reckon in excess of R3million ...

This last week, I have been negotiating with a supplier for services that I urgently need. I met with him this morning at 9:30 and he agreed that he could help me and start what I need done tomorrow (Sunday, YES, Sunday) and finish Monday (Monday, public holiday, YES, a public holiday) for which I was extremely grateful. As a condition of the work i need done, he asked for a R25 000 deposit (50% , so the whole job is costing me R50 000), so that he can purchase what he needs to start the job. At 10:30, i did an EFT via your app, to his account, also a Standard Bank client, and I sent him proof of payment via the app. The app did not give me an option to make the payment "immediate" and I didn't expect one as it was a Standard Bank account to another Standard Bank account. All was well, or so I thought. At 11:30, I had to make another payment of R10 000 to another supplier for services he provided this morning, to his First National Bank account. I did, as an "immediate" payment. Also sent him proof and 20 minutes later confirmed he received his payment. All good. At 12:15, the Standard Bank supplier called to say the money wasn't reflecting in his account. Tried calling Business Banking and their work hours ended at 12pm. First part of my frustration. So, while still in Cresta, I went into the branch. Second frustration, had to queue to place my name onto a waiting list to see a consultant. After waiting 35 minutes, eventually got to speak to someone ... I was told there is nothing they can do !!!! REALLY !!! They can see it's gone off my account but tell my it'll take 24 hours to reflect in the suppliers account😡😡

An EFT from one Standard Bank client to another Standard Bank account takes 24 hours ... where I've done a payment from Standard Bank to FNB and its immediate !!! Absolutely pathetic !! ... and extremely embarrassing that I've had to tell my service provider that both he and my bankers cant even do a simple system transaction !!! What also makes it extremely sad is that for years and years, I have no idea who my business banker is?? The relationship (or total lack thereof) is non-existent!!

I cant even move my accounts to another bank because all banks are just as bad and pathetic as the other !!

Another thing that I'd like to know, is how many thousands of transactions are done like this every day and for what amounts, who has earned the interest on these amounts? It's off the payers account and not yet in the payees account?! Yet you charge me a banking fee !!!

SHOCKING SHOCKING SHOCKING !!!!

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Replies (4)
Standard Bank
Standard Bank's reply24 Sept 2023, 08:04
Official
Hi Heinz

Thank you for alerting us to this. We have escalated the matter 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 ***  
Standard Bank
Standard Bank's reply26 Sept 2023, 15:13
Official
Hi Heinz

We hope you're well.  Sadly, after three efforts to call you on your mobile device, we were unable to do so. You can contact us whenever it's most convenient for you because we've sent you an email. 

We will be closing the case in the interim, but we sincerely hope you will get in touch with us if you require any other help. 

Kindest regards, Standard Bank Social Media Team*** 
HW
Heinz W's update26 Sept 2023, 15:40
Reviewer Update
Absolute ******* ... no one had tried calling !!!
Standard Bank
Standard Bank's reply26 Sept 2023, 15:46
Official
Good Day Heinz

Although we called, we were unable to reach you. 

Please include a time that is convenient for us to reach you. 

I look forward to hearing from you.

Kind Regards
Standard Bank Hello Peter Team 
***