Standard Bank
Unfair Debit Order Practice

Yet another reason for being disgruntled with Standard Bank!

I received an SMS notification yesterday morning (03.04.13 @ 07:00) that a debit order for an insurance premium had gone through. On realizing that I had over-withdrawn my account, I quickly rushed to an ATM to settle the debit order amount, which I subsequently received acknowledgement via SMS (03.04.13 @ 08:03). FOR THE WHOLE DAY ON 03.04.13, I DID NOT RECEIVE ANY FURTHER CORRESPONDENCE WHATSOEVER FROM STANDARD BANK. Ethics would dictate that the bank acknowledged the deposit and withheld the debit order until the deposit was cleared, hence the silence.

To my astonishment, the bank went ahead and dishonoured the debit order this morning, whilst conveniently settling their unpaid item fee of R115. It is untrue for the bank to state that there were no funds to cater for the debit order, when I made an effort to deposit those funds. What's irritating is that I have other debit orders that are effected on the last day of the month (when my salary is transferred from another bank), but Standard Bank is able to withhold those debit orders until funds clear the next day. Totally frustrating, and I want this resolved!

Company: Standard Bank
Country: South Africa
City: Johannesburg

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