1 reviews | Active since Nov 2019
Don't trust Stanlib to give you your money
Very disappointed and frustrated with Stanlib. I've had a unit trust in their care for over 10 years. The original banking details on my online profile were my old ABSA details, which I closed years ago, and instead I opened an FNB account. I've been trying to withdraw from my unit trust for weeks now. First, I was told to use the online process, but their system wouldn't accept/update to my new FNB banking details (it wanted me to select an FNB branch, but none of the options were from South African branches - there was a Namibian and Australian branch somehow though). When I contacted them for advice, I was told to submit a form with my current banking details. I did that and submitted it. I received none of my money after a week, so I sent more enquiries. I was first told to wait for 5 working days, then I was told that the funds had been returned to Stanlib because the bank account they tried to deposit the money in was closed. THAT WAS THE OLD BANK ACCOUNT THAT I'D BEEN TRYING TO CHANGE FOR WEEKS BEFORE I WAS TOLD TO JUST SUBMIT A FORM WITH MY NEW BANKING DETAILS. They completely disregarded my information on the form, and decided to send the money to an account that was closed years ago, instead of actually looking at the form I submitted. Watch out for this company. Because if you try to withdraw your money, you're not likely to get it, at least not without waiting a long time and arguing with people.
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Regards
STANLIB Resolutions Team
Thank you for making us aware of your complaint.
We’re working on your request and one of our consultants will make contact with you to assist you.
Regards
STANLIB Resolutions Team
