JD
Jeetesh D
1 reviews | Active since Feb 2015
11 Feb 2015, 11:39
DELAYING PAY OUT ON AN INVESTMENT
STANLIB promises to pay out clients on a unit trust within 48 hours. I have been waiting for almost 336 hours (14 days) and I have still not received payment. STANLIBs consultants keep requesting further documents that are unnecessary.
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STANLIB's replyOfficial
12 Feb 2015, 16:49Hello jeetesh1812,
Thank you for bringing your concerns to our attention. We did contact you personally and have now resolved the issue.
We realise retrospectively that there was an unnecessary delay on processing the repurchase. However this was not an ordinary repurchase transaction. You were instructing the repurchase of a high value from an estate late account as Executor. Prior instructions were of lower value and did not breach a risk threshold. To protect our investors from **********, we place certain authorisation checks. Unfortunately the Risk team did delay the process by a few days, for which we do apologise. We also realised that our communication to you could have been better. We will most certainly use this incident to improve our service going forwards.
Warm regards,
Barbara Egan
On behalf of the STANLIB team
Thank you for bringing your concerns to our attention. We did contact you personally and have now resolved the issue.
We realise retrospectively that there was an unnecessary delay on processing the repurchase. However this was not an ordinary repurchase transaction. You were instructing the repurchase of a high value from an estate late account as Executor. Prior instructions were of lower value and did not breach a risk threshold. To protect our investors from **********, we place certain authorisation checks. Unfortunately the Risk team did delay the process by a few days, for which we do apologise. We also realised that our communication to you could have been better. We will most certainly use this incident to improve our service going forwards.
Warm regards,
Barbara Egan
On behalf of the STANLIB team
STANLIB's reply12 Feb 2015, 16:49
Official
Hello jeetesh1812,
Thank you for bringing your concerns to our attention. We did contact you personally and have now resolved the issue.
We realise retrospectively that there was an unnecessary delay on processing the repurchase. However this was not an ordinary repurchase transaction. You were instructing the repurchase of a high value from an estate late account as Executor. Prior instructions were of lower value and did not breach a risk threshold. To protect our investors from **********, we place certain authorisation checks. Unfortunately the Risk team did delay the process by a few days, for which we do apologise. We also realised that our communication to you could have been better. We will most certainly use this incident to improve our service going forwards.
Warm regards,
Barbara Egan
On behalf of the STANLIB team
Thank you for bringing your concerns to our attention. We did contact you personally and have now resolved the issue.
We realise retrospectively that there was an unnecessary delay on processing the repurchase. However this was not an ordinary repurchase transaction. You were instructing the repurchase of a high value from an estate late account as Executor. Prior instructions were of lower value and did not breach a risk threshold. To protect our investors from **********, we place certain authorisation checks. Unfortunately the Risk team did delay the process by a few days, for which we do apologise. We also realised that our communication to you could have been better. We will most certainly use this incident to improve our service going forwards.
Warm regards,
Barbara Egan
On behalf of the STANLIB team