Standard Bank
Credit Life Protect - Skimming customers' accounts

I had an overdraft facility for which there is an assigned credit life protect amount. However, I had cancelled this facility over a year back, and have still been charged the small amount every month. The amount is not the question here. Std bank now claims that I had to come in to a bank to sign a document to cancel it, but it is the first time I'm hearing about this.

According to its consultants, who 'don't make the rule', it will cost the bank money to print my statements and find out from which point in time I had cancelled the overdraft, so they cannot help me unless i bring my statements in.

Such concern about costing the bank money, where there's an ill-gotten amount from me, and however many other people, going into standard bank's coffers, that's bad business.

Incidentally, the query came up because I was trying to cancel all debits exiting my account because I am switching banks.

Company: Standard Bank
Country: South Africa
City: Lenasia

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