I have been a Standard Bank Home Loans Customer for 10 years. Being a small business owner cash flow is always a challenge, I bounced ONE debit order with Standard Bank for my Bond payment (which was deposited in cash the following day) They put a hold on the account and said it would be in place for 9 months.
When this time had lapsed they said they can lift the hold on my Bond only if I deposit my salary into their Bank. I have been an Asba Client all my life, and told Standard Bank so. They insist my Salary must be paid into Standard Bank now for my access bond to be re-instated.
I think it is appalling that they feel they can bully their clients this way.
I have been an excellent client for them over they years and they have made over R 500 000 of me in interest alone over the period I have had the loan, and they treat you like this for bouncing one debit order?
I have phoned their customer service department and asked to speak to the supervisor, but the consultants will not let you speak to someone higher up the chain.
Well done Standard Bank. I hope you are happy.
I will be moving my Bond and Business elsewhere.
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