Terrible customer service

<p>On 13/1/2017 someone at Standard Bank blocked my access to an access facility that I’ve had for close on ten years. This was done for no apparent reason, due notice or any form of communication with me of any nature whatsoever. At the time that this was done, there was in excess of R400K of funds available in the account. I had been using this facility as a temporary storage of proceeds from the sale of some of my investment properties. The money was earmarked for another investment.</p> <p>On 24/1/2017 I attempted to transfer these funds to the earmarked investment account only to find that the facility was blocked. I immediately contacted my Private Banker and was told that:</p> <p>a) Standard Bank had decided that the properties in that particular coastal region had devalued</p> <p>b) That an access facility had been incorrectly registered on a property that was vacant land which is not their policy. (Note that I had provided the correct information to the bank at the time that the bond was registered and that the access facility was granted and as mentioned before this facility had been in place for close on ten years).</p> <p>I sent an email to the Private Banking suite requesting the immediate release or transfer of my funds (the excess in the account) to my current account. I was told that the matter would be dealt with and that my request would be sent to the Home Loans Division. In fairness, the Prvate Banker did attempt to arrange for a temporary loan but due to some technicality this was not possible.</p> <p>It was only at this stage that Standard Bank decided to send an assessor to my property only to find that their original assumption that the property had lost value was incorrect and that the property’s original valuation could be re-instated. In hindsight, I would have thought that the physical assessment of the property should have been done in the 1st place..</p> <p>To this day, I have still not been able to access my money, notwithstanding numerous emails and verbal discussion between myself and the Bank. On Friday 27/1 I was asked to put my request for the transfer in writing and that a consultant would be allocated to ensure that I receive my money. It is now 31/1 and this has still not been done.</p> <p>I have since lost the investment opportunity (it was very time-sensitive) and the Bank is still withholding access to my money. For me it is as if I had put my money into a savings account only to be told that the account has been locked and that I could not access my funds. How ludicrous!</p> <p>I have reached the end of my patience. This whole fiasco has been very badly handled right from the start. The blocking of the access facility, because someone woke up to the fact that the property was registered as vacant land (after ten years?), the incorrect valuation of the property without an assessment and the resultant locking-up of my funds that I had transferred into the account. Everything done without any forewarning or notice or communication with me. Not a single word. To date no-one has even considered my situation important enough to warrant an apology. </p> <p>Is this the way in which Private Banking clients of exemplary standing should be dealt with? Is this what the Bank considers good customer service? Is this the way in which customer retention is managed by Standard Bank?</p> <p>I find myself to be standing alone against a massive institution who does not consider me and my little problem in any way significant or important. Why would they? I am after all only a small number in a sea of millions of other numbers. </p>