Standard Bank
Access Bond Cancelled without notification

I went to Standard Bank week before last to find out they cancelled my Access Bond without any notification. Their reason was that I changed the name on the bond even though at the time I specifically requested that that Access Bond stay in place, which they confirmed would be the case. I then followed their procedure and reapplied for the Access Bond. Last week they responded and said the application was denied as I don't have a transactional account with Standard Bank. I currently have a Standard Bank account which is linked to the bond which I used a number of times when drawing money from the Access Bond. According to Standard Bank I now have to have my salary deposited and a debit order on this account to pay the bond. Standard Bank have changed the rules and again without any notification. They are also saying the Access Bond will be deactivated if not used for 6 months. This was not specified in any of the documents I signed when applying for the bond and subsequently the Access Bond. Standard Bank is changing the terms and conditions of the bond without notifying their clients. This is totally unacceptable and I want this resolved!!

Company: Standard Bank
Country: South Africa
City: Midrand

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