Standard Bank
What is the purpose of a branch code?

Standard bank is still not accepting is responsibility for incorrect payments. As per the previous complaint the bank replied via the ombudsman excepting partial blame but still insists the onus rests with the consumer when creating a beneficiary. Most other banks will reject a new beneficiary if the branch code, account number and name of the recipient does not correspond. According to my experience the Standard
Bank website simply added zeros in front of the account number. I would really like to know what is the purpose of inserting a client's name, branch code and account number? The person withdrawing the funds must have known that it did not belong to him. In my opinion the Bank is not assisting in refunding the funds and are assisting this person committing. It has been almost five months, since the original complaint.

Company: Standard Bank
Country: South Africa
City: Durban

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