Standard Bank
Business overdraft reduced with NO notification

After an incident of an unpaid debit order (the first ever) from my business account held at Standard Bank Constantia, I was informed by my business banker, Ernest Louw, that my business overdraft facility had been reduced. I was NOT informed of this before the time, and Mr Louw said I should have been informed by Standard Bank but that they had neglected to do so. I have now been informed, at 5pm on Thursday 28 March, before a 4-day long weekend, that on Tuesday 2nd April my facility will again be reduced. This was after I made contact with Mr Louw to check what the status was on the facility, which he informed me he would try to reinstate. He was not forthcoming with the information until I actually asked. My company has suretyships in place, has had this facility since 2011, has never exceeded the limit, and has provided documentation requested by Mr Louw to have the facility reinstated. But I cannot accept that HUGE changes to a customer's facility can be made with NO PRIOR warning. I have now made contact with FNB business banking as I find this service UNACCEPTABLE.

Company: Standard Bank
Country: South Africa
City: Constantia

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