Standard Bank stole my money!

I was extremely humiliated on 12 May 2022, while shopping and paying for my goods. My transactions were declined due to insufficient funds. I could not believe this knowing I had money in my account. While still in the queue, I checked my bank statement via internet banking, only to discover I had -R43 in my account. After a careful review of my bank statement, I discovered a transaction deducted twice from my account. On 7 March 2022, I made a purchase which was immediately deducted from my account. On 12 May 2022 the same transaction was deducted yet again.

This occurrence was not the first though. A while ago, the same thing happened. I contacted Standard Bank at that time and was told that their system detects double deductions from businesses. Standard Bank reversed the transaction immediately. This time around I had to wait 5 days for my money. That includes the weekend. I had plans and had to cancel due to my depleted bank account. This is unacceptable!

My debit orders were not processed due to insufficient funds. This will surely impact my credit score rating. I’m refusing to pay any service fees that originated due to insufficient funds. Subsequently the honouring fee was reversed. I am still waiting on the reversal of the service fees.

I don't expect this type of service from a bank claiming to have solid systems in place. We, the customer, pay a lot of money to Standard bank to look after & protect our money & investments.

I am hugely disappointed in Standard Bank and will gladly take my business to another bank with truly robust systems in place.