I deposited a USD cheque on the 9th of June 2013 at the Hillcrest Standard Bank (SB) branch in Pretoria. I was informed that it would take 6-8 weeks. Today after 101 days and numerous visits to the branch, phone calls and emails, the money has still not been paid into my account.
Apparently SB has handed my cheque over to Wells Fargo (WF) to process. According to SB, WF do not respond well to queries and SB is not allowed to follow up too often!! When I responded to an email sent by SB to WF, I was reprimanded by SB that it is against WF policy for me to contact them.
I honestly do not care about WFpolicy as I am not their client - I am a Standard Bank client.
SB says it is out of their hands, but that is exactly the point - I trusted my bank with my money. I was not told that SB will be giving my cheque to someone else to clear when it was financially convenient for them.
I have been a SB client for more than 20 years, but it is quite clear that my business is not important enough for them to supply me decent feedback on why my funds are still not available.
I have already lost thousands due to appreciation of the Rand and opportunity cost.
This is very dissapointing
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