Our company have been banking with Standard Bank for years now. We never had problems with our business account until Monday 22 April 2013. We do not have a overdraft facility with them as they believe that a turnover of more than 12 million rand a year with banking cost of close to R60000.00 per annum does not qualify us for one. We had a cheque deposited at the Sunward Park branch of R29000.00 which normally clears immediately. When I tried to withdraw some funds on Tuesday, my account was at -R96800.00 with a balance of R26300.00. Now, I am not a maths genius but surely my account CANNOT be in a minus as we don't have a overdraft. We contacted the business division who did not know what the is going on, so we contacted the branch and they said there was a error on the account and their system is off so they cant help but all will be ok by today. Well, another deposit was made into my account and now it sits at -R30200.00 which means still cant draw ANY cash, or make any payments to my suppliers AGAIN.
I am moving ALL my accounts from this useless and unprofessional bank to Nedbank. TODAY!!!
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