Standard Bank
Rejection of application for temporarily overdraft

I do have along relationship with standard bank for almost 10yrs. My bank account has always been conducted in a very satisfactory manner with no unpaids to date.

I apllied for temporarily overdraft increase for only two months and was declined without any valid explanation or considerable efforts. I do understand that my facility was granted on a unsecured basis but however no efforts was really made to assist me as a very loyal customer of standard bank. I"m stronly dissapointed in the way my application was been dealt with no counter offer of whatsover. I was just told over the phone that my company is insolvent which is in a very unprofessional manner conveyed. I realised that they have no understanding and trust in my business seeing that they know me for almost 10 yrs.

I was just told that my business is insolvent with not even asking for any requirements to produce or to substantiate my current affairs. I'm willing to cede my debtors book as collateral as well a loan account with the name of sunglide to restore my solvency.

They never asked for a cashflow projections to see how the temporary facility will be adjusted or how my projection will become positive

Company: Standard Bank
Country: South Africa
City: Parow sanlam centre

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