Standard bank did not keep to our agreed overdraft terms.

I write this with a broken heart as my business bank of more than 10 years let me down when my business needed their help the most.

In realising what was happening in the economy due to the pandemic, in March I app**** for an overdraft. After a long back and forth of following up, we were approved at the end of April for R100 000 overdraft based on merit and good business performance. We signed an overdraft agreement of 12 months that was to be reviewed there after.

In JUNE 2020 BARELY 2 MONTHS AFTER receiving the overdraft STANDARD BANK decided to cancel our overdraft with no warning or notice. I have been going back and forth with not much help from my banker and the call centre that simply moves you from one person to another or says they will contact someone who can help but my request to have the overdraft reinstated seamed so difficult to resolve. No one knew what was happening or what to do. They were confused as it just did not make sense.

I eventually got someone (my business bankers manager) who actually communicates and answers my emails which seamed promising. They followed up with the credit department. The credit department came back to say our account was declined due to the current low performance of the business, this peformance they were talking about was mainly counting the month on July 2020 where we could not fullfill most of our orders due to low cash flow which they took from us!

After not trading for 2 months due to the lock down regulations of the pandemic of course our revenue was lower. My business is small and we do not offer essential services. We there for could not trade also.

This overdraft was suppose to help us to at least remain standing. By Standard bank doing this they have disrupted our cash flow so badly. We could not fullfill very important orders due to this. As a result this affected our monthly income and we are now not able to pay salaries for this month and rent because of this. We had app**** for Corvid assistance from the tourism department. We were so happy to receive help from them...only for Standard bank to take it all when they decided to take away the overdraft. We could not use even 1cent of the grant received to help us.

This is incredibly painful as a small business. What Standard bank did is completely not fair and unjust. It's like pulling a carpet under ones feet and expecting them to still stand.

Please resolve this Standard bank. How else should one reach out to receive your help!