Strandard bank aiding *****. Standard bank will throw you under the bus and shirk responsibility. They will protect their staff and risk reputation at the expense of their loyal clients. Standard bank have no empathy. I'm in disbelief at the way I am bein

I am absolutely devastated at way that standard bank has treated me during my dispute over ********** activity on credit card account. My issue started on the 5th of May when I decided to invest in forex. I have been investing in forex through regular banks for a long time. I have a background in commerce and hold a Bcom degree. I understand the risks very well, however it should be noted that because they put a disclaimer about how risky it is it, that does not give them a right to make sure you lose everything, it is not a casino. This is why stop losses are available which gives yourself a limit to how much you prepared to lose. I was Certainly not prepared to what followed.

I ordered a new credit card on the 17th April and paid R450 for expedited delivery because oil was trading at an all time low and i wanted to take a position on it to go up, which it did.

I had not received the card for a few days and I called the bank 4 days after it supposed to have come. Standard bank then claimed it was sent to the courier company on the Monday. So to confirm I logically called the courier companies Durban branch, the city where I reside. They claimed they had no idea about the whereabouts of my card, in fact I was not even on the system. I called the bank back to resolve this issue and they said I had called the wrong branch, the branch from my city, Durban. And that the card was in Johannesburg.

During that time anything could have happened to my card. And the idea of it been cloned is certainly a possibility worth exploring considering the following sequence of events. But as it seems, standard bank refuse to investigate The card finally arrived almost two weeks later on the 3rd of May.

I began to use my card in small amounts with a few supposedly reputable companies, because very few of them offers Rand to other currencies and oil futures. I did not receive any sms notifications about these transactions. I did not realise this as I was preoccupied with studying the markets and didn't expect that standard bank would allow ***** to happen, after all they are a reputable bank that I've banked with all my life. I have many accounts with the bank and receive a lot of notifications, given the nature of my previous business which I have since disposed of. I'm still receiving sms on the accounts I receive the same notification twice, which I've never queried because its harmless.

On the 4th of May I randomly received this notification from standard bank. Standard Bank: Your MyUpdates recipient profile has been amended.2020-05-04 Query?***. At 1105am This was followed a few seconds later by Standard Bank:Your MyUpdates profile has been amended.2020-05-04 Query?*** at 1105am Then followed by Standard Bank: R0.00 purchased from *** at GOOGLE *TEMPORARY HOLD. Avl bal 2020-05-04 Query? ***. At 1128am Then followed by a withdrawal transaction. And finally Standard Bank: Your MyUpdates recipient profile has been amended.2020-05-04 Query?*** at 4pm exactly. I obviously called them to query this and was told because it is a replacement card it had to be done. But I have had many replacement cards and this never happened before. I did not authorise nor did I request any of this activities. This was the last time I received any notification from the bank on this particular account. I want to know who made those changes and to who were the notifications being sent to? Who has been accessing my account within the bank and who gave them permission to? I know without a doubt that there are security protocols in place which tells you exactly which standard bank employee accesses a customers profile and for what reason. So they most certainly have the answers to these questions which they are avoiding to answer. Which begs the question as to why and who are they protecting?

Thereafter there was completely and blatantly irregular activity on my card, which standard banks system would most certainly would have picked up. Yet I did not receive any notifications or queries if they are legitimate transactions.

I registered with a company called plus 500 and made my initial deposit on the 5th, after a few failed attempts to deposit R3000 then R4000, it finally accepted a figure of R5000. I didn't expect it to go through and it was the last time I would try with that company. As mentioned earlier I didn't receive a notification for this transaction. I am sure I was supposed to receive notifications for the declined transactions as well, but I need clarification on that.

However this transaction showed up on my statement on the 7th May along with numerous duplicate transactions made to "plus 500 suppo" . The company clearly states that my statement will reflect Plus500 as reference however my statement shows "Plus500 suppo". This is most certainly strange and definitely indicative of *****. I stopped the card immediately and a replacement card was ordered with express delivery. This was on the 7th of May. It's the 26th of May and I am yet to receive my new replacement card.

The only time I transacted with this company was on the 5th for an initial deposit. The positions I held were winning positions yet I somehow lost all my money. I was long on oil and on the rand. Yet all my positions were closed and I was left with nothing. I was not going to be operating with them again especially since I had the same positions in other companies and had been making a profit, with much less considering my budget was exceeded on my initial deposit. When I emailed standard bank I was told that its not their fault. When asked why they allowed duplicate transactions to happen on the same day without contacting me about it they avoided the question. When asked why the transactions showed up on the 7th when I only transacted on the 5th. They gave the following response on email.

"We confirm that your card details were compromised through – Card Not Present. “Card Not Present (CNP) ***** is perpetrated using valid card details to perform a ********** transaction where neither the card nor the cardholder is present whilst conducting the transactions.” Note: Our statements reflect business dates only, which means any transaction on a Public Holiday, Sunday or any day after 7pm will reflect on your statement the next business day."

The card was stopped on the 7th but somehow on the 8th again there were various transaction to "Plus500 suppo"

During this time I was having an email discussion with the company because they claimed they did not accept my ID. In hindsight it seems this was a smokescreen for them to verify if my bank had notified me of irregular activity.

In fact they did not request any of my fica documentation of mine. I mentioned the duplicate transactions and was asked to prove it. I think they confused the terms transactions and deposits. I was trying to collect a paper trail and when they realised that I was now aware of the ***** and had reported it to my bank they did the most unexpected thing i did not expect or even imagine can be legal. The Company randomly sent me an email stating my account has been closed down based on clause 22.2, which basically states that they have the right to close an account down without giving an explanation or reason. And that I should not try to log into my account again with my email of any other email address.

This was after two duplicate transactions of a random figure of R1593 along with more R1500 transactions. Duplicate online transactions of the same amount are not supposed to be processed by the bank. They also should notify the client of this. It's my belief that once they realised they duplicated such a random figure that they closed my account down to avoid being audited. Had I been receiving sms notifications this entire debuckle would most certainly be avoided.

Another red flag was I registered with one email address and they had been emailing me on my primary Gmail address. This is something i didn't notice myself, considering Gmail amalgamates both email addresses.

Coincidentally on the 8th their was an attempt to do transaction for a whopping R30000. I did receive an sms regarding this ********** attempt.. Standard Bank: Your transaction on 2020/05/07 for R30000.00 was declined as your card has expired. Please call ***to arrange for the delivery o f a replacement card. It was sent by a number of never used by standard bank.

Standard bank are definitely protecting themselves knowing that they are responsible for allowing this ***** to occur. If you look at the history of my account, its blatant that I do not transact in such a manner and its totally contrary to my usual prudent approach. I have paid diligently and never spent more than I could afford. They keep emailing me a copy and paste response stating.

" Please note that the Card ***** department has reviewed this matter and issued an outcome. This outcome is based on the information and documents that we have in our possession. If you have substantial and significant information to the contrary, you may contact us on ***or email ***d supply the necessary information and/or documentation. The matter will then be reviewed, and you will be advised of the outcome thereof."

I decided to look up their fsb number that the company uses on its disclaimer/letterhead. The first article that comes up is a warning from the fsb about this exact company. https://www.fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/fsca-warns-the-public-against-optionplus500-pty-ltd/25948

I given the same generic response regardless of the evidence I provided to contact executive. So I am left in a position where my bank who are suppose to protect me from ***** are aiding and abetting a company that should have been on their radar as a red flag company and that I most certainly should have been contacted about these irregular transactions. It's actually unbelievable how they are ruthlessly consulting themselves.

I had a conversation with a "standard bank" employee for 45 minutes on ***. I was told that this number does not belong to standard bank anymore. I'm not sure what to believe anymore. This is certainly bizarre and beyond the realms of normality.

There are also irregular transactions that were done with a company called iq guru on my bank statement. My card is an absolute shambles and standard bank are refusing to assist me in any way whatsoever. I will have to make another thread regarding the iq guru transactions and provide the proof I have that those transactions are impossible and again should not have been allowed to go thru on the 8th after the card was stopped on the 7th May.

I'm really disappointed with the manner in which standard bank are conducting themselves toward a loyal lifelong customer. They seem to be demanding their pound of flesh in light of all evidence pointing toward *****. And just as importantly the complete lack of empathy and incompetence on the part of standard bank. They just refuse to want to put any effort into investigating the matter and are trying to put the burden of proof solely on me, when in fact standard bank have many questions that need answers.