1 reviews | Active since Nov 2010
Transfer to closed Account
I made an EFT transfer to another bank on 23 March 2016, only to find out after the transfer was made that the account was closed. The bank in question said that the payment will just revert back to Standard Bank, and will then revert to my account. On 24 March I went to Standard and was told that the transfer will revert to my account as soon as it is sent back by the other bank. Allowing for weekends and public holidays this process could take up to 7 days. On 30 March the funds was still not in my account and I went to the branch again to be told that the returning funds would go into a suspense account, and from there will be sent to my original account. As of today, 5 April the money still has not been reverted and this after numerous phonecalls and visits to the bank.<br> <br> Standard Bank has a disclaimer on their Internet Banking Channel that states that the payee should make sure that account numbers etc are correct, and that I understand, but if I was not aware that the account was closed, then they should act quickly to ensure that I get the money back. As I understand, the money is floatring around somewhere in the system, and needs to be allocated. But 2 weeks???
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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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
***
*** (fax)
***
