Standard Bank
Cash deposit fiasco

I had R1600 in my one account and did a cash deposit of R2000 into that account. There was an error but the correct amount was captured and showed on my account that same day, but not as available funds. The next day I made a purchase and noticed my balance was now somehow -R853!!! Impossible! But Standard Bank saw fit to hold my original funds AND the cash I had deposited. The call centre could only help in so far as releasing my original funds (no explanation offered) and I had to take a day off to go into the branch to have my cash deposit cleared |(4 days after the deposit) due to a "technical error". The website states cash deposits are cleared immediately and this is a complete lie. Standard Bank is quite happy to keep customers own money away from them without notification or explanation. Poor service and certainly something the Ombudsman will be interested in hearing about. Nice call centre staff but doesn't excuse withholding my money without reason. Glad I managed to sort it out, although at great inconvenience. I don't trust Standard Bank to keep my money safe and am petrified of doing further cash deposits. Thank goodness I kept my atm slips. Investigating other banks..

Company: Standard Bank
Country: South Africa
City: Pietermartizburg

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