CJ
Cedric J

1 reviews | Active since Jul 2009

12 Nov 2021, 12:51

Where is my R83 000?

I transferred R83 000 via the Balance Transfer option in my Standard Bank Cellphone Banking App into what I thought was my Nedbank account number, which I had later come to learn, is my Nedbank Profile number. This balance transfer was effected on 1 October 2021 and I received no notification from either Standard Bank or Nedbank regarding the receipt of these funds which led me to query the payment approximately one week later.

Since then, I have had to make numerous follow-ups with Standard Bank and Nedbank, both telephonically and in-branch and nobody has been able to confirm where these funds are. After about 4 weeks of investigation by Standard Bank, I was informed by them that the funds were transferred to a Nedbank suspense account on 20 October, which I needed to sort out at the closest Nedbank branch, which I did, still to no avail, as Nedbank requires the proof of payment/ payment reference number to further their investigations into where these funds are despite me sharing 'their' suspense account number received from Standard Bank with them on numerous occassions. Standard Bank now seems to again be 'investigating / tracing' these funds despite them previously quoting the suspense account which apparently was holding my money.

Why was this erroneous payment allowed to be processed to a non-bank account number in the first place? It should have either failed or been returned to my bank account? Today (12 November 2021) I am still no closer to receiving any confirmation from either Standard Bank or Nedbank that my funds are safe and is going to be returned to me. Just the standard 'it's been escalated'.

Khumo Medupe from Standard Bank (who has been assisting me throughout) has been amazing and her level of customer service provided has been way above standard (and I've had my fair share of substandard service from Standard Bank previously) and she is the only reason I had not escalated this matter previously despite my better judgement to do so as I require these funds to be returned to me sooner rather than later. I understand that the resources available to her are limited, which can account for the slow progress but this issue now requires the attention of senior persons at Standard Bank.

I need answers please...swiftly.

Thank you.

0
Replies (4)
Standard Bank
Standard Bank's reply12 Nov 2021, 14:13
Official
Dear Cedric J

Thank you for posting your comment.  We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.  We apologize for the inconvenience and undue frustration, this has caused.   We greatly appreciate your continued support   Kind regards, Complaint Resolution Centre
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Standard Bank
Standard Bank's reply14 Nov 2021, 10:57
Official
Dear Cedric J

Thank you for allowing us the opportunity to look into your matter. An email response has been sent to you today. We appreciate your support and loyalty. Kind regards

Mbali Majozi

Trainee Universal Banker | Customer Resolution Centre
Consumer & High Net Worth SA 

CJ
Cedric J's update15 Nov 2021, 22:40
Reviewer Update
I've sent you my personal details per email for authentication,as requested, and no response?
I am not prepared to wait any longer than midday, Tuesday, 16 November 2021 for the return of my R83 000 to my Credit Card account.
Please escalate this matter as extremely urgent. I would like to be contacted telephonically by no later than 9 am with confirmation that payment will be made timeously.
I have waited for 6 weeks already. No longer.
Standard Bank
Standard Bank's reply17 Nov 2021, 13:40
Official
Dear Cedric J

Thank you for posting your comments. 

An email was sent to you requesting further details on the 16/11/2021.

Awaiting your response.

Kind regards

Mbali Majozi

Trainee Universal Banker | Customer Resolution Centre
Consumer & High Net Worth SA