1 reviews | Active since Dec 2017
STANLIB INVESTMENTS SUCKS!!!THEY STOLE MY KIDS' CHRISTMAS JOY!!!
I am writing this win anger!!!!!
I have a STANLIB investment which I started in November 2015. They debut R200 from my account as per our agreement. The consultant who assisted me to join advised me to deposit any amount when I have more money, and that I will be ble to access it as and when I need it.
I have done repurchases from the investment many times with no problems, except for them keeping quiet 2nd not advise me if the form from is not completed correctly.
In October this year I deposited R15000 to this ccount, doing it from the bank as a transfer. I'm using Standard bank. After a week I went to the bank and competed a repurchase form for R2000 and it was processed smoothly.
In the 1st of this month, December, I didthe same and transfers R15000 with the hope of taking the money around the 15th so that I can prepare for Christmas.
I want to the bank after a week to do a repurchase because I needed the money that time. The following day STANLIB deposited R215 In my account. I called to find out, I was toldthat the money will take 21 days to clear on their side.....????? I was never told about that. If I knew I wouldn't have deposited the money, I would have saved the cash in my house. One oftheir consultant advised me to reverse the money, the consultant from standard bank said it's not possible as it has already led my account.
Everytime I called STANLIB that would give me a different story!!!!
On Monday I spoke to a guy caled Sifiso, who tried to explain and assured me that he wil make sure that the error is fixed on their side and my full amount is being paid to my account on 22nd Dec. I called on the 21st to confirm that, his other lady told me about 45 days, that I will get my money on the 15Jan 2018!!!!! ?
I asked to work to the supervisor,I held the phone until my airtime was finished. I called again and spoke to another lady Luthando who also promised to fix the error. She caled me today and assured m that the money is going to be paid today! And today their offices closed at 12pm!
It is now 15:45 and my money is still not in my account! I believe that it should reflect same time as it is Std bank to std bank.
What am I going to do? It is Christmas for Gods sake! And I'm sure yet are busy doing their shopping win their kids, and I'm busy stressing waiting for my money!!!!! I AM NOT BORROWING THIS MONEY!! IT IS MY MONEY!!!!
Hello ZanMonareng15,
I do appreciate your concern that we are restricting funds that you know belong to you.
Unfortunately due to the financial climate of potential money laundering that we live in, the 45-day clearance for bank deposits will be app****. It is disclosed in the terms and conditions you sign on applying to place your investment. The 21-day clearance applies to debit orders debited from your bank account. If you wish to transfer funds seamlessly between your bank and your investment house, then it is best to use internet banking and instruct an EFT (electronic fund transfer) - there is no holding period on these deposit transactions.
STANLIB is a stable and highly reputable investment institution and we will always make it our prime priority to look after our customers' investments. We would like to partner you in building your wealth to provide a prosperous future for you and your family.
Kind regards,
Barbara Egan, on behalf of the STANLIB team.
Hello ZanMonareng15,
I do appreciate your concern that we are restricting funds that you know belong to you.
Unfortunately due to the financial climate of potential money laundering that we live in, the 45-day clearance for bank deposits will be app****. It is disclosed in the terms and conditions you sign on applying to place your investment. The 21-day clearance applies to debit orders debited from your bank account. If you wish to transfer funds seamlessly between your bank and your investment house, then it is best to use internet banking and instruct an EFT (electronic fund transfer) - there is no holding period on these deposit transactions.
STANLIB is a stable and highly reputable investment institution and we will always make it our prime priority to look after our customers' investments. We would like to partner you in building your wealth to provide a prosperous future for you and your family.
Kind regards,
Barbara Egan, on behalf of the STANLIB team.
