I have a home loan with Standard Bank (opened in 2008) into which I paid extra amounts on my monthly installment. I called more than once and confirm I could access the money.
On Thursday 12 September, I went into the branch with the intention of accessing the amount. I was told the Access bond facility had been closed because I hadn't accessed it in more than six months. I was then advised to reapply and I duly did that. I was also the advised to open a savings account into which I would transfer the excess. I opened the account and I was told it would take 3-5 working days for the AccessBond facility to be opened. Not having heard from them, I called on Wed 18 September to follow up. I was then shocked to be told that they couldnt offer the facility because my "home loan to principal ratio" was more than 100%. I asked to speak to a manager and team leader and I was told "She wont speak to you because she will tell you the same thing". (Call reference 41542963 - team leader is Amanda).
This is APPALLING.
1. I should have been told I wouldnt get the money, I would have taken it elsewhere. I need it.
2. The branch shouldnt have wasted my time to even open an account I dont need!
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