HO
Herbert O

1 reviews | Active since Jan 2013

06 Oct 2015, 07:54

Std Bank won't release credit funds from home loan

I discovered that, although I had paid up my one bond, Standard Bank was still deducting money from my current account and transferring it to the bond account, on which they give 0% interest for credit amounts. <br> Although I should have picked this up earlier, I eventually determined I had R58,000 credit in my account. I have tried to transfer this amount expeditiously to my other bond account, on which I am paying over 9% interest. Although I demanded that this happen expeditiously, as I am losing a significant sum in interest on a daily basis, and although I was promised a call by the bank representative at my Norwood branch, 5 days later the sum has still not been transferred. Thus, for 5 extra days, Standard Bank is extracting 9% plus interest for me on a sum of R58,000, which is a significant amount. The delay in activating my request is, in my mind, close to theft, and, at best, an act of shockingly poor customer service response.

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Replies (1)
Standard Bank
Standard Bank's reply06 Oct 2015, 14:26
Official
Hello herbland,

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

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

Kind regards

Complaint Resolution Centre
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