The overdraft limit on our business account was decreased by R40 000 without any warning. Our cash flow is planned on the basis of us having this facilty. This will cause our debit orders to fail and we will not have sufficient funds to pay our bills and this is putting our business at risk. This is the way Standard Bank look after small businesses.
When I spoke to our branch at Bayside they weren't able to provide an acceptable explanation other than to say that the OD gets reviewed every year and I must re-apply. Thats fine but then they should give a fair warning so that we can make provision for a reduction in our OD.
I would like to see our OD facilty put back to what it was and if they feel it should be reduced then they should follow a proper process and not just drop it without any warning.
I have been a customer of for 33 years and this is the treatment I get. I have two business accounts and 3 personal accounts plus a credit card. I'm very disappointed and have started looking for an alternative bank.
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