Standard Bank demanding NDA

Item: Standard Bank
Rating: 1
Author: Dalene L

My 91-year old mother has an investment with Standard Bank. It is a fixed deposit for 12 months. On maturity date the investment re-invested itself at a interest rate of 3.85%. We queried the low rate, but was told that we cannot cancel the investment. Standard bank investigated the matter and has concluded that the arreared interest for the past 5 years has to be paid to her. The investment is still at only 3.85% and now she has to sign a Non Disclosure Agreement before they will pay the arreared interest. Why the need for a NDA if the money is owed to her?

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Replies (2)

Standard Bank's replyOfficial

29 Nov 2023, 13:42

Hi Dalene

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's reply29 Nov 2023, 13:42

Official

Standard Bank's replyOfficial

04 Dec 2023, 11:11

Hi Dalene

Thank you for allowing us the opportunity to turn your experience with us into a positive one. Our team has assured us that the matter is resolved to your satisfaction, we are so glad we could assist.

Should you need any further assistance, we’re always here to help.

Kindest regards, Standard Bank Hello Peter Team***

Standard Bank's reply04 Dec 2023, 11:11

Official