1 reviews | Active since Dec 2013
UCounts some stupid rules for tearing
My review is not really Standard Bank but the U Count System of Standard Bank. Generally I am very happy with Standard Bank U Counts and find the rewards system very good, However my tier has just been down graded and when contacting U Counts I was advised the reason for the down grade was because I had withdrawn money from my Fixed Deposit. When I advised them that I had reinvested this money into Standard Bank into their new Money Market Special account. This was done upon the advise of a Standard Bank employee as the interest rate on this account is more than the Money Market. To me this was excellent advise and I appreciate it but to find that the bank has points for Fixed Deposits and Money Market just does not make sense I actually now have over 3 x more money invested in the Money Market than I had in Fixed Deposit , Surely your tearing should be on the total amount of money you have invested in the bank and not where in the bank it is invested. The tearing should be based for example R10,000 =1 point R100,000 10 Points, R500,000 50 points etc.
I complained to UCounts and the person who tried to assist me was very help full but was overdid-en by his superiors. The main reason being that I did not have the name of the person who advised me that I should move my money , which to me was excellent advice,
This points for tearing just does not make sense and although I will stay with UCounts I really would like someone senior from the bank to advise me why your points are not for your total investments in the bank and not how you invest it in the bank.
This is not the level of service we strive for. We understand your frustration and are here to help. We can assure you that your matter is now in the right hands. Our team will be in touch.
Kindest regards,
Standard Bank Hello Peter Team ***
This is not the level of service we strive for. We understand your frustration and are here to help. We can assure you that your matter is now in the right hands. Our team will be in touch.
Kindest regards,
Standard Bank Hello Peter Team ***
