KK
Kerryfonseca K

1 reviews | Active since Oct 2014

28 Jun 2016, 09:55

standard bank forex taken my money and not replying

<p>On Sunday I used the online banking app to transfer money to an Irish bank account. After the website gave me the rate of 16.72 to the euro, the app processed the transaction at an exchange rate of r18.89 not to mention the r750 transaction fee!</p> <p>I immediately emailed them to cancel, followed up with 8 follow up emails and we have called the bank now 5 times from Ireland where we currently are and have received no joy. We have spoken to 5 different consultants to cancel the transaction and all of them promise to get back to us. We were then asked to email Andrew Lekalala the supervisor only to receive an out of office email from him</p> <p>Here's the good part.....std bank have withdrawn r500,000 from our account and are just sitting with it earning interest on our money!!! And they refuse to reply or give us any feedback</p> <p>In effect standard bank have ****** our money. If I do not get a reply to my email within 6 business hours I will be taking this further.</p> <p>Absolutely shocking service. We require our money back immediately</p>

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Replies (7)
Standard Bank
Standard Bank's reply28 Jun 2016, 10:56
Official

Good day Kerry-Ann

Thank you for your posting.

Please note that further details have been requested from you via email in order for us to address your concerns.

We await your response.

Best regards

Complaint Resolution Centre

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KK
Kerryfonseca K's update28 Jun 2016, 11:11
Reviewer Update

I have sent you all the details. Thanks

Standard Bank
Standard Bank's reply28 Jun 2016, 11:53
Official

Good day Kerry-Ann

Thank you for your posting and allowing us an opportunity to investigate your complaint.

This matter will be allocated to a resolution specialist who will contact you to resolve your complaint.

Kind regards

Complaint Resolution Centre

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********** (fax)

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KK
Kerryfonseca K's update28 Jun 2016, 14:34
Reviewer Update

Its now almost the end of the business day and no one has contacted me. Where is my money sitting as it's not in the account? It looks like I am going to have to go to the ombudsmen?

KK
Kerryfonseca K's update29 Jun 2016, 08:20
Reviewer Update

STANDARD BAN**** It has now been 48 hours and we receive our first reply saying the eu26500 Will be recalled and returned to our account. So we must suffer the loss of the exchange rate.

This is not what we requested 48 hours ago!!! Why wasn't the transaction cancelled immediately as requested via 8 different emails and 5 conversations with your consultants? Failure to return this full zar500k to our bank account today by 5pm will result in an immediate complaint to the ombudsman as well as handed to our attorneys for legal action.

KK
Kerryfonseca K's update29 Jun 2016, 14:27
Reviewer Update

I would like to thank Arno van Helden for taking direct ownership of this query and finding favourable resolution for us. Well recovered Standard bank....

Standard Bank
Standard Bank's reply30 Jun 2016, 04:34
Official

Thank you for bringing your concerns to our attention.

Your concerns have been escalated to our management team.

We appreciate your support and loyalty.

Kind regards

Zeenath Hassen

Complaint Resolution Centre

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