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Thread: Closing a Standard Bank account

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    Closing a Standard Bank account

    I need some advise please.

    21/11/2016 I put R100 worth of petrol in my vehicle...the machine was printing and the sms was on my phone.

    23/11/2016 I close another Standard bank account Elite plus cheque account....
    request a balance to settle the account...i am given a total and authorize the transfer from my business account to settle.
    they issue me a settlement letter but not an account closure letter...which i have requested but they cannot produce one as i am told they dont keep the documentation at the bank.

    02/2017 I collect my post which i do every 3 months or so (who send s post in this day and age) to find there is a standard bank statement for the account i have closed...i go straight to the bank and wait to see a consultant...20 minutes
    later I am told they are off line and not sure when they will be back on line...i hand the statement to the lady who advised me that they were off line and request she gives it to a consultant to query...firstly why they have sent me
    a statement for an account i closed in November 2016 and secondly why there is now a negative balance...and i leave.

    02/2017 I get an sms to inform me that there is a new card waiting for collection at the Westville branch...for the account i closed in November.

    21/02/2017 I go to the bank to close my savings account and query the new card...i request a settlement for the savings which has a credit balance...they ask me which account they must transfer the funds...they hand me a copy of the
    account closure - customer notification form.
    I then enquire about the card for the account i closed in November...i am told the account is not closed and has a new settlement balance...R415.82 for service fees and interest...i pay the new settlement balance.



    this is where it gets interesting...i ask why the account was not closed on the 23/11/2017 as requested...i am told that because of the purchase made on the 21/11/2017 reinstated on the account the 24/11/2014...when i asked why they didnt contact me to inform me that the account was not closed...the answer i got was...because i received and sms informing that there was a purchase made on the 24/11/2017 which automatically reinstates the account...when i indicated that the sms was sent on the 21/11/2017 while the machine was printing the purchase...then i was told that they sent me a statement which informs me that the account is no longer closed with a pile of fees and interest...when i indicated that i had gone to the bank to enquire about the statement i was told they were off line at which time i left the statement with the lady and requested they get back to me and let me know what is going on...never got a response...the next visit to the bank was when i received the sms for the new card for the closed account.

    22/02/2017 the day after i close my saving account at 11.23 am i get an sms to notify me of funds being moved between the closed account and my business account.
    11.23 i get another sms funds being moved between the closed account and my business account.
    12.00 i get an sms indicating i have deregistered from standard bank my updates
    12. 46 an sms for notification that there has been a service request.

    when i asked why they didnt just move R100 from from business account to the closed account...i was told they cannot move money without my permission...yet as displayed above today they were moving money between account without my permission earlier today...when confronted about it...the response i got was...because there was a R31.00 balance which had to be settled to close the savings account...which they only found today...so they reversed the transfer done yesterday...then transfered it back to my business account less the R31.00...my question to the manager again why couldnt they do that on the 24/11/2017 .

    the other question to them was...how long after the account is closed can they reinstate it due to pending/outstanding payment...i was told for how ever long it takes...it is my responsibility to return to the bank after 2 days and then again after 2 month to make sure the account is actually closed and there are not another settlement to be paid including service fees and interest.

    i was also told that a debit order can re open a closed account and i will be liable for all costs incurred...apparently this absolute bullshyte...

    i sent an email to the banking onbudsman who has informed me that i have to first file a written complaint to the banks dispute resolution unit...which i have done.

    i have also lodged a complaint at Standard bank Westville branch...i tried to speak to management but they had no interest in my problems...they sent a consult out to listen to my problems.

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    Diamond Member AndyD's Avatar
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    Hope you're well Ian, long time no see.

    I can't help with the Standard Bank problem I'm afraid, hopefully some of the financial guys have some advice.
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    Diamond Member Justloadit's Avatar
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    When I closed my accounts at ABSA some years back, I made them give me a bank guaranteed cheque for the balance I had. I did not want them to get the details of my new accounts at another bank. I immediately deposited the cheque and never heard from them again. Reversing an EFT in my mind constitutes fraud. I would go see my lawyer, and get him to write a letter of demand to the bank. They then know you mean business and may cave in and close the accounts. I think they are desperate for money, and looking for anyway to get it.
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    Platinum Member SilverNodashi's Avatar
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    you just gotta love banks and "moronic operators" who can't think for themselves! all to make money from the public!

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by ians View Post
    i sent an email to the banking onbudsman who has informed me that i have to first file a written complaint to the banks dispute resolution unit...which i have done.

    i have also lodged a complaint at Standard bank Westville branch...i tried to speak to management but they had no interest in my problems...they sent a consult out to listen to my problems.
    + posted the sequence of events on the web...

    I suspect you've probably done what you can for now, Ian.

    It is the nature of the corporate beast that as long as the minions operate according to the rules of the beast, they remain invisible and protected no matter how nonsensical the result. It'll be interesting to hear the response when it comes, if any.
    The trouble with opportunity is it normally comes dressed up as work.

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    The response i expected from the bank


    We acknowledge your complaint 7012173446 and furthermore we appreciate you taking time to write to us.

    At the outset I need to apologize for the frustration this matter has caused.

    Kindly note we done an enquiry regarding the below and our record shows that the account was closed on 21/02/2017 therefore you will not be getting any communication to you about the said account.

    I trust the information provided is in order. Please feel free to contact us should you have any further questions.


    we know the account is closed...the account was suppose to be closed on the 23/11/2016...at which time they cut the card.


    when you close an account can they do what they have done in my case...

    not close the account...

    not notify me that the account is not closed...tell me that a statement sent a month later is good enough to inform me that the account was not closed and continue billing me for service fees...if the bank had informed me the following day 24/11/2017 this whole fiasco would not have started.

    then when i close the savings account 21/02/2017...the following day 22/02/2017 they move funds between my account (at which time an sms was sent to notify me) which i had just closed and my business account...it suited them to move move money on the 22/02/2017 to close the savings...but couldnt do it on the 24/11/2017 to close the elite account...i am confused.

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    Quote Originally Posted by Dave A View Post
    + posted the sequence of events on the web...

    I suspect you've probably done what you can for now, Ian.

    It is the nature of the corporate beast that as long as the minions operate according to the rules of the beast, they remain invisible and protected no matter how nonsensical the result. It'll be interesting to hear the response when it comes, if any.
    the mistake i made was to settle the account again on the 21/02/2017...rule # 1 when dealing with big business only settle the outstanding amount at the absolute last point.

    i will not let this rest until they pay back the money.

    you just need to step back and look at all the little amounts being taken from customers ...add up the amount of customers (millions) and realize they are printing money before they even bill you.

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    A call from the branch manager ...a full refund...an investigation into the manner in which the consultant dealt with the issue...and improved training.

    My service fee at standard bank tripled this month.

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    Quote Originally Posted by ians View Post
    A call from the branch manager ...a full refund...an investigation into the manner in which the consultant dealt with the issue...and improved training.

    My service fee at standard bank tripled this month.
    Well they got to get the money for the training, who better than their clients
    After all they just simply milk you anyway they can.
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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by ians View Post
    My service fee at standard bank tripled this month.
    Their fee increase was in January, so that would ordinarily indicate an increase in activity levels...
    Which might be a good thing?

    I agree you do have to keep a sharp eye on service fees being raised, though. I have a guarantee in place which attracts a quarterly guarantee admin fee of R101.00 from Standard Bank. On two occasions last year that R101.00 fee also attracted a R60.00 service fee! Quite simply outrageous.

    After two months of investigating, I've been promised a refund by my manager.
    The trouble with opportunity is it normally comes dressed up as work.

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