NH
Nicholas H

1 reviews | Active since Aug 2015

09 Oct 2022, 15:12

Standard Bank ACCESS Bond on Home loan closed without reason.....

Standard Bank. I have been with this bank since 1983. I was and am a prestige account holder which in my time was a privilege with a special cheque book and cheque book holder. I was one of the first to move my bond to an access bond, a Standard Bank innovation at the time. It served me well and as time went on I paid my bond off and kept the access in place to use. I ended up owning a guest house and then covid arrived. I limped through using my access bond and then post covid arrived and decided to list the guest house. I had an offer which was subject to finance and the very prominent agents’ lawyers asked for settlement amount on my bond. As soon as they did this my accessbond was blocked from further use. Although the phone app showed funds available, when I tried to access them it kept on telling me to contact my administrator informing me there was no balance on it. It took countless emails to Standard bank to understand why my access bond was cancelled. I am told its “standard “ procedure once a balance is app**** for….. they close it. I am told I can re-apply but it will take 6 months and even then as I am 71 years old and the bond has another 11 years to run I am unlikely to have it reopened because of my age. My total bond is 10% of the selling price of the property. Check Mate. Loyalty, long and personal service seem to amount to nothing in our digital age.

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Replies (1)
Standard Bank
Standard Bank's reply09 Oct 2022, 16:51
Official
Hi Nicholas

 This is not the level of service we strive for. We understand your frustration and are here to help. We can assure you that your matter is now in the right hands. 

Our team will be in touch. 

Kindest regards, 
Standard Bank Hello Peter Team 
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