HM
Hulisani M

1 reviews | Active since Dec 2009

21 Nov 2018, 09:59

STANDARD BANKING IS HELPING **** MY START UP BUSINESS BEFORE IT HAVE EVEN BEGUN!

I decided to open a Bizlaunch account with standard bank after months of using my personal account. After doing a research on the best account and Bank to use. I finally decided on Standard Bank. Their website said you can open an account today and start using it the same day with no issues. But with me, that was the opposite. I registered my business account with Standard Bank and told them that the nature of my business is a Travel Agency. I have a trip planned for 29 November 2018. Upon securing a quotation from SAA, I instructed the travellers(my clients) that they can deposit the funds into the new " easy to use Bizlaunch Standard Bank Account". When they started transferring funds to the account, Standard Bank blocked my account. No one from Standard bank bothered to call me before blocking my account. I had to make the discovery upon trying to transfer money to SAA to pay for the traveller's flight bookings. I went to the Kimberley branch on Monday 19 November 2018. I was not assisted. Called Business Banking, no assistance, Called their ***** department, no asssistance. I have been sent from pillar to post. each time I call them, I am promised that I will be called back for feedback before the end of the day, even up to today, I have not received any phone call from STANDARD BANK. I have been calling every department I can reach at STANDARD BANK every day to no avail. No one can tell me exactly why my account was blocked. I AM A START - UP black female owned company, I do not have funds anywhere else, but I am dependent on the funds my clients pay to pay for their bookings. I don't know what to do, I can't pay my suppliers on time for the trip for 29 November to take place! Can someone from STANDARD BANK assist me in resolving this issue. STANDARD BANKING IS HELPING **** MY BUSINESS BEFORE IT HAVE BEGUN!

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Replies (3)
HM
Hulisani M's update22 Nov 2018, 10:30
Reviewer Update
So, I went to the Kimberley branch again yesterday, wednesday 21 November 2018. I was told that all the managers were at a conference in Bloem and therefore I need to wait for them to comeback. The conference ends on friday. I am being forced to cancel the trip because now, I can't pay my suppliers. If the bank is being an obstacle to the growth of a start up, then what chances are there for it to stay in business. I think my biggest mistake was opening a busines account with a new bank that I have no relationship with. I should have stayed with FNB. I am going to open a new business account with FNB before the end of today!
HM
Hulisani M's update22 Nov 2018, 10:33
Reviewer Update
My advice to the those who want to open a business account with Standard Bank, DONT! The information that they have on their website that you can start transaction on the account as soon as it activated are lies! I did exactly that, transacting as soon as they activated it. Within a day of my clients depositing money into the account, they blocked it. No warning at all!
Standard Bank
Standard Bank's reply27 Nov 2018, 14:50
Official
Dear Hlulisani

Thank you for posting your comment.

We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.  

We apologize for the inconvenience and undue frustration, this has caused.  

We greatly appreciate your continued support 

Kind regards 

Complaint Resolution Centre
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