1 reviews | Active since Apr 2016
Disappointing service
<p>I'm a 21 Year old student. I'm in the process of registering for Varsity, but this has been put to a halt. I made a purchase from Standard Bank, Springs, with regards to Stanlib so that I can pay for Varsity fees and accommodation but I'm being given the run around. I've made endless calls, been put on hold and given empty stories. This is unfair because I can't sort out my Varsity finances; I'll be stuck with this problem alone whilst these bankers and consultants keep telling me stories....</p>
Hello Zach Mbiza,
Thank you for bringing your concerns to our attention. We cannot comment on the communications between Standard Bank and yourself. We can, however, explain the STANLIB process and timing app**** for redeeming your Classic Investment Plan.
This product is housed on the linked investment service provider (LISP) platform and thus the methodology app**** to redeem the investment is slightly different from that of a straight unit trust investment. It is necessary for the administrator to instruct each management company of the different fund portfolios to sell the units and then to accumulate the resulting cash from each in one transaction to pay to the investor.
Your original redemption instruction came in the afternoon on Friday 20 January 2017 and was indexed early on Monday 23 Jan 2017 with final payment being released on 27-01-2017. The redemption SLA is normally 4-5 days, as disclosed in the terms and conditions on the redemption form.
We could have been a little more proactive in contacting you during the process just to keep you informed on the status of your transaction – this was a small oversight and we will most certainly be examining how we can apply an additional update to our investor transaction communications going forwards.
Kind regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello Zach Mbiza,
Thank you for bringing your concerns to our attention. We cannot comment on the communications between Standard Bank and yourself. We can, however, explain the STANLIB process and timing app**** for redeeming your Classic Investment Plan.
This product is housed on the linked investment service provider (LISP) platform and thus the methodology app**** to redeem the investment is slightly different from that of a straight unit trust investment. It is necessary for the administrator to instruct each management company of the different fund portfolios to sell the units and then to accumulate the resulting cash from each in one transaction to pay to the investor.
Your original redemption instruction came in the afternoon on Friday 20 January 2017 and was indexed early on Monday 23 Jan 2017 with final payment being released on 27-01-2017. The redemption SLA is normally 4-5 days, as disclosed in the terms and conditions on the redemption form.
We could have been a little more proactive in contacting you during the process just to keep you informed on the status of your transaction – this was a small oversight and we will most certainly be examining how we can apply an additional update to our investor transaction communications going forwards.
Kind regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello Zach Mbiza,
Thank you for bringing your concerns to our attention. We cannot comment on the communications between Standard Bank and yourself. We can, however, explain the STANLIB process and timing app**** for redeeming your Classic Investment Plan.
This product is housed on the linked investment service provider (LISP) platform and thus the methodology app**** to redeem the investment is slightly different from that of a straight unit trust investment. It is necessary for the administrator to instruct each management company of the different fund portfolios to sell the units and then to accumulate the resulting cash from each in one transaction to pay to the investor.
Your original redemption instruction came in the afternoon on Friday 20 January 2017 and was indexed early on Monday 23 Jan 2017 with final payment being released on 27-01-2017. The redemption SLA is normally 4-5 days, as disclosed in the terms and conditions on the redemption form.
We could have been a little more proactive in contacting you during the process just to keep you informed on the status of your transaction – this was a small oversight and we will most certainly be examining how we can apply an additional update to our investor transaction communications going forwards.
Kind regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello Zach Mbiza,
Thank you for bringing your concerns to our attention. We cannot comment on the communications between Standard Bank and yourself. We can, however, explain the STANLIB process and timing app**** for redeeming your Classic Investment Plan.
This product is housed on the linked investment service provider (LISP) platform and thus the methodology app**** to redeem the investment is slightly different from that of a straight unit trust investment. It is necessary for the administrator to instruct each management company of the different fund portfolios to sell the units and then to accumulate the resulting cash from each in one transaction to pay to the investor.
Your original redemption instruction came in the afternoon on Friday 20 January 2017 and was indexed early on Monday 23 Jan 2017 with final payment being released on 27-01-2017. The redemption SLA is normally 4-5 days, as disclosed in the terms and conditions on the redemption form.
We could have been a little more proactive in contacting you during the process just to keep you informed on the status of your transaction – this was a small oversight and we will most certainly be examining how we can apply an additional update to our investor transaction communications going forwards.
Kind regards
Barbara Egan, on behalf of the STANLIB team
Best regards,