Standard Bank Access Bond ***** :unjustified charges

Standard Bank access bond ***** is how I can plainly put it, following my experience from 30th April 2025 to the most recent explanation received today 9th May 2025 . A mountain of excuses , compounding and getting more ridiculous each time .Do you think SA consumers are naive ? you manipulate the truth and offer explanations under the guise of financial understanding .Well low and behold you have been found out .Standard Bank do better . I have been to the Canal walk branch 3 times and have logged 3 queries for the same incident . Scenario : We have a bond acc: active since 2010 , we recently enquired at the Canal walk branch with Rudy Richards and based on the info. decided to pay in a lump sum into our bond as an Access bond facility Option 2. We were advised : 1.No charges or fees will apply 2.The funds will remail as is , we will not have access to the funds we have paid in 3.Our instalment will be reduced .Calculated by the system on the remaining amount owing in the home loan account 4.Interest will only be charged on the outstanding amount of the home loan

We paid in a lump sum on 30th April 2025 ,the full amount reflected on the same day : split as "access bond" on the Standard bank app. At that point we also noted the outstanding amount on the HL (Home Loan). On 1st May the amount we paid in was reduced by an amount of R8 215.30 . We also noted a charge of R7k+ appeared on the HL outstanding balance which we assumed was the interest charges as we were advised- we anticipated this charge .

On 2nd of May we went back to Rudy to query why the amount we've paid in had been reduced and what the charge was for .Nb. no transactions reflected only the reduced balance , no info. on what and why .Rudy did not know what the charges were for ,she advised that there shouldn't be any charges/ it may be the installment ,to which we advised : We did not instruct a deduction of an installment against the funds paid in and further more where is the credit to the outstanding loan amount if this was indeed an installment. Our most recent debit was on 12th April 2025, it didn't make sense . Our debit orders go off on the 12th which is our agreement with SB . Rudy contacted the call center from her desk as we asked her to assist/ after a lengthy conversation a call was logged . My husband received a text message on 6th May stating that the query is resolved the R7k odd is an interest deduction - which was not what we had queried . I contacted the call centre on 6th May at 4:42pm( 40 minute call , answered after a 17minute wait) and explained the issue to Aluwani Ndidwani - he advised that the query was logged incorrectly .I advised that I was in the presence of Rudy at the Canal walk branch when the call was logged so the issue is with the person capturing the query .None the less Aluwani advised that he would escalate the query and call me back on 7th May to advise .At this point there was a further change in the lumpsum we had paid in - however still reflecting a reduced amount of R5 600 . There was no feedback from Aluwani or SB on 7th May 2025. On 8th May 2025 at 11:52am I called in for feedback and spoke to Keitiumetfe (59 min call).I explained the issue again and yet again was advised that the query was not logged correctly . NB. this was the 3rd log of the same query .Keitiumetfe proceeded to explain to me amongst many other explanations how access bonds work. She advised that the amount deducted from the lump sum we paid in was the difference of our previous/normal instalment and the new reduced installment charged / that's how we will be charged and that the lump sum we paid in will reduce every month : which made no sense : Why would I pay in a lump sum and then be charged over 2 respective avenues the same instalment when the reason we paid into an access bond facility was to reduce our installments . She asked me on numerous occasions if I "understand" which is totally derogatory especially when she herself did not understand and proceeded to spout nonsense .I then read out a clause from the contract that we had signed with Standard bank "Access bond Facility .Terms and conditions " point 18. which states "No interest will be paid on any credit balance on the Loan Account". That in itself means that you are in contravention of your terms and conditions . She advised that she will log the query and add this clause, once feedback is received she will call me . Today 9th May 2025 at 9:41am I was given yet another excuse , being that we were charged an initiation fee that was "not collected" when we registered our bond in 2010 .Now 15 years later I am being charged this fee allegedly due to the lump sum deposited. I was never made aware in any shape of form of this so called outstanding amount that was owing from 2010 . During the past 15 years we have been paying installments religiously .Our account statement did not reflect "this" amount due / the app didn't reflect this amount due and neither was there an attempt from SB in 15 years to make me aware of this and/or collect the initiation fee that was supposedly outstanding. I further asked why the initial deduction was R8 215.30 and then subsequently reduced to R5 600.If I owed SB R5 600 and as you say there was a negative balance "not collected from 2010" explain the charge of R8 215.30 on 1st May 2025 and the subsequent change to R5 600 a few days later .She advised that they were "busy calculating" .You advised you had the amount of R5600 was outstanding from 2010 - so exactly what is it that needed to be calculated ? I smell a rat..... this is ***** @Standard Bank - you are grasping at straws trying to justify your charges. Try again !! I'm not buying your excuses . When can I expect a refund of the amount erroneously charged with daily interest accrued ? you don't miss a beat to collect daily interest / so in that same vein you can pay me back with interest earned . Standard bank - do better .SA consumers deserve better .Hold up to your values of integrity, stop fooling clients . Congratulations you have lost our business !!!