Thieving bank Standard Bank stole my R5500 and they don't care! Do not bank with Standard Bank!

I have been banking at Standard bank for the over a decade. I always had my reservations where this bank is concerned. I have always wanted to change banks due to the poor experiences I have had since. The customer service at Standard Bank is terrible and appalling. So much so I have decided to change banks immediately.

On Sunday around 9:30 I made an immediate transfer from my Standard Bank account which I was charged for R50. The transfer was to my Bidvest account and this was not the first transfer. I transferred R5500 as I needed to pay an account of mine that has accumulating interest on a daily basis. To my surprise, Sunday went by without the money reflecting in my Bidvest account, mind you I had paid R50 for an immediate transfer. Both the transaction and its charge are reflecting on my account except the money is not reflecting in my Bidvest account. On Monday still nothing, so I decided to call Standard Bank, the lady logged a query and initiated for tracing of funds. I also contacted Bidvest bank to ask what was happening and understandably so, they had not idea of what I was talking about as no such transaction reflected in my Bidvest account. I decided to wait and see if the funds would reflect the next day, still no change.

At this point, I am thinking the interest I have been trying to restrict is accumulating. Later Tuesday I received an email from Standard Bank saying that the query has been resolved and they would call me. I didn't receive any call from this terrible, poor service bank called Standard Bank. I decided to call them on Wednesday to find out what do they mean by saying the query is resolved when my funds are not reflecting in my Standard Bank account nor in my Bidvest account. The nerve of this bank! The guy I spoke to told me that Standard Bank is insisting that the funds where successfully transferred into Bidvest bank account and query is resolved. At that time I am looking at that account and there is no such amount reflecting from my Standard Bank account. Mind you they claimed to have traced the funds. With me, I have a Bidvest stamped statement reflecting all transactions until Tuesday, the R5500 is no where to be seen except on my Standard bank account as money out of the account.

I immediately demanded that they return all the money I had trusted them with, with immediate effect and close the stupid account. They claim "Peace of mind banking" offers, that's a lie and the customer is being misled to thinking that they can trust this bank with their money. I am missing R5500 which I trusted this bank with. Now they are telling me I should wait another 10 days so that they can recall the funds. Can you believe such nonsense! They do not care that extra 10 days results in interest being charged in my interest charging account at my cost! Today is there 4th day and I am still missing R5500!

I am urging Standard bank customers to reconsider banking with this bank. Guys change banks before you lose your money without a trace like I just did. And for those, considering joining Standard Bank, I advise you to look the other way, choose another bank not Standard Bank or its affiliations! If you're okay with losing money just like that and your bank cannot account for managing your funds, then Standard Bank is your bank. If poor service is not much of a big deal, if "Peace mind" is not your goal, Standard Bank is your bank.

This review doesn't allow for zero star rating, Standard Bank should be rated no star! The experience I have had with this bank is terrible , appalling and I am changing bank immediately. Advise to everyone, take your banking/business to a bank you can trust, Standard Bank cannot be trusted. You cannot trust this bank with your money.