Standard Bank
Disgraceful handling of elderly client's loss

I'm a Standard Bank current a/c holder since late 90's. During Mar 2011 I received pay outs from 2 annuities in anticipation of my 70th birthday in Jun. This raised my balance to over R150000 (usually between R6-14000). End Mar I underwent hand surgery and was booked off for 3 weeks. Upon my return to work I drew a bank statement and saw that the max of R1000 had been withdrawn from my a/c daily from 1 Apr to 1 May. Total R27000. My debit card had been in my possession all this time and nobody knows my pin no. I only use it at Standard Bank ATM's & withdraw around R2000 p.m.

I immediately visited the Hatfield branch and reported this. Mr Conrad Coetzee immediately cancelled my card & destroyed it. He advised me that the money would be reimbursed within 15 working days. After months of calls, I reported the matter to the Ombudsman for Banking Services, but was only offered R5000 by Standard Bank in full settlement of my loss.

I have since spent R8440 in legal costs to recover my loss - a total of R35708 from my retirement savings to date. Disgraceful - how can Std Bank expect clients to trust them with our money? Don't they monitor unusual withdrawal patterns?

Shame

Company: Standard Bank
Country: South Africa
City: Castle Walk Pretoria

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