Standard Bank Loan Process – A Disappointing Experience, Rescued by One Exceptional Consultant

I would like to express both my appreciation and deep frustration regarding my loan experience with Standard Bank. In 2019, I was granted a loan, which I respected and paid diligently. However, things took a frustrating turn when I app**** for another loan through a different bank and requested them to settle the remaining balance with Standard Bank. The settlement was made, and I heard nothing further for almost two years.

To my shock, on 15 July 2023, I received an email from Mac Robert Attorneys titled “Arrear Notification”, claiming I owed Standard Bank money. On 10 January 2024, I sent them the paid-up letter to prove the settlement, but the email bounced back with an error: "The recipient's mailbox is full and can't accept messages now."

Then, in January 2025, when I tried to increase my credit, I discovered this unresolved loan had negatively affected my credit score. I visited the Standard Bank branch at Fourways Mall, sat for over an hour with a consultant who couldn’t help and had to call different departments — only to get no proper assistance.

I followed up by calling again the next day, got passed between four agents, and was eventually promised an email with the settlement amount and a request to close the account. That email never came. The account continued to accumulate fees, damaging my credit score further and preventing me from getting the credit increase I urgently needed.

Finally, on 2 July 2025, I called and was connected to an agent named Ikaneng from the Personal Loans department, and I must commend her for her exceptional service. She spent 1 hour and 22 minutes on the line with me, calling different departments, identifying the root of the problem (that the account had not been officially closed), and took immediate steps to request a paid-up letter and have my name cleared from the credit bureau. Her patience, professionalism, and willingness to resolve the issue is the only reason this long-standing issue is finally being addressed.

In summary, while I am grateful for the initial loan and for the service I eventually received from Ikaneng, I am extremely disappointed with Standard Bank’s internal processes. It made me feel like I was being ****med. No proper closure instructions were given when the loan was settled. No follow-up or warning was issued before sending my account to attorneys, and I was handed over without even being contacted. The previous agents I interacted with were unhelpful, bouncing me between departments and failing to take ownership.

This experience has seriously damaged my trust in Standard Bank. I hope the bank seriously re-evaluates its loan settlement and closure procedures, as no customer should go through what I went through.