1 reviews | Active since Jul 2015
System problems preventing access to investment
I have been investing with Stanlib for more than 20 years, and yesterday I did an electronic transaction (repurchase) online, and was told that the transaction was successful, and that the shares will be sold at COB, and the money will be in my account this morning. When I phoned them this morning they told me that the system is down, and to do a manual repurchase will take 2 3 working days. When I asked to speak to a supervisor, I was told that the supervisor is not available. I will be closing my account with them.
Hello JJB654,
Thank you for bringing your concerns to our attention. We appreciate the input as it allows us to assess where our communications to our investors may be unclear or limited. I understand that our communication to you when you enquired was not the best experience and for that we do apologise.
When you instructed the repurchase on your account on 4 November 2017, this was actioned without manual intervention and the funds released. The issue is that you did not see them reflect in your bank account the next day due to you banking at another bank and not our group bank, Standard Bank. There is thus a time lapse to allow for the inter-banking transfer and this may be 24 to 48 hours.
We have communicated the details directly with you and I do hope that you are satisfied that we have kept to our service levels. If you have any further queries you are welcome to contact me directly - you have my details.
Warm regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello JJB654,
Thank you for bringing your concerns to our attention. We appreciate the input as it allows us to assess where our communications to our investors may be unclear or limited. I understand that our communication to you when you enquired was not the best experience and for that we do apologise.
When you instructed the repurchase on your account on 4 November 2017, this was actioned without manual intervention and the funds released. The issue is that you did not see them reflect in your bank account the next day due to you banking at another bank and not our group bank, Standard Bank. There is thus a time lapse to allow for the inter-banking transfer and this may be 24 to 48 hours.
We have communicated the details directly with you and I do hope that you are satisfied that we have kept to our service levels. If you have any further queries you are welcome to contact me directly - you have my details.
Warm regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello JJB654,
Thank you for bringing your concerns to our attention. We appreciate the input as it allows us to assess where our communications to our investors may be unclear or limited. I understand that our communication to you when you enquired was not the best experience and for that we do apologise.
When you instructed the repurchase on your account on 4 November 2017, this was actioned without manual intervention and the funds released. The issue is that you did not see them reflect in your bank account the next day due to you banking at another bank and not our group bank, Standard Bank. There is thus a time lapse to allow for the inter-banking transfer and this may be 24 to 48 hours.
We have communicated the details directly with you and I do hope that you are satisfied that we have kept to our service levels. If you have any further queries you are welcome to contact me directly - you have my details.
Warm regards
Barbara Egan, on behalf of the STANLIB team
Best regards,
Hello JJB654,
Thank you for bringing your concerns to our attention. We appreciate the input as it allows us to assess where our communications to our investors may be unclear or limited. I understand that our communication to you when you enquired was not the best experience and for that we do apologise.
When you instructed the repurchase on your account on 4 November 2017, this was actioned without manual intervention and the funds released. The issue is that you did not see them reflect in your bank account the next day due to you banking at another bank and not our group bank, Standard Bank. There is thus a time lapse to allow for the inter-banking transfer and this may be 24 to 48 hours.
We have communicated the details directly with you and I do hope that you are satisfied that we have kept to our service levels. If you have any further queries you are welcome to contact me directly - you have my details.
Warm regards
Barbara Egan, on behalf of the STANLIB team
Best regards,