Sunday the 15 December 2013 i went to m account to withdraw money & it said i have inssufiecnt funds, knowing that i had gotten paid onthe 12 December 2013 i still had money availlable. I have an overdraft of 19K and i had a -4, 192 on Sunday morning. I called the call center on 16 Dec 2013 & they told me nothing is wrong with my account but the Standard bank has redeuced your overdarft by 15K. Is this legal? Can they reduce it without even hours notice nor agreed arrangment of repayment. This is my Decmeber salary & i do not understand why they reduced the overdraft without notice. Is this how the world has turned into?
One of the benefits on Standard Bank website for Overdraft.
1. No monthy repayment required. Only a deposit into your current account, preferably your salary.
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