1 reviews | Active since Feb 2019
Standard bank immediate money transfer, how it works
I was taught today what the definition of immediate transfer in banking terms mean. You request for this service but at a cost of over R400 to transfer money from std bank to Capitec. After few hours returning to std bank and enquirer about why the money does not reflect in the Capitec account yet, the confident client services lady explains that immediate transfer actually means "its anything from 0 hours to 24 hours". Strange enough, 15 minutes prior to this statement, another bank gave me a completely different take on what their "immediate" means, which Im fully aware of, through my experience doing similar transactions, which in turn cost 98% less what std bank is asking. Upon mentioning this, I was taught again that the reason for the 24 hours is due to technology "sir, don't you know how technology is working, there is nothing we can do, even the manager here wont be able to do anything, because he is on vacation". Upon requesting to cancel the whole transaction, I was informed that it would take 10 days for it to be reversed/cancelled. So my question to std bank, why would you advise people to pay over R400 for immediate transfer service, no guarantees, without giving the details of your terms and how your technology works, but then hours later, these lectures are given, so confidently!
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Clint Petersen
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Kind regards
Clint Petersen
Complaint Resolution Centre
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