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Cape Town - Standard Bank [JSE:SBK] must treat customers with more respect and service if they wish to grow their business and protect their brand, according to Fin24 users Michael Pretorious and David Anderson.
"We recently purchased a house through Standard Bank [and] it took over a month for the bond to be finalised before going through the normal legislative processes."
Pretorious said the application process was extremely cumbersome and the bank also bungled the application.
The wrong ERF was evaluated and they were advised to take the incorrect bond type.
"As had been communicated to the bank the property was being registered at a higher amount at the deeds office as we knew we would be doing renovations and additions."
The pair then had to apply for the shortfall amount, but was again incorrectly advised, which resulted in the delaying of the initial application.
"Due to the incorrect applications processed they have also wasted the valuable time of the attorneys who had to draw up contracts for us to sign, which in the end became unnecessary."
Pretorious decided to lodge a complaint with Standard Bank after not getting any feedback.
He said e-mail correspondence indicated that it would take 10 working days to resolve his complaint.
We are sorry
Standard Bank granted the application after Fin24 intervened and issued an apology.
“Standard Bank wishes to apologise to Pretorious and Anderson for the frustration caused," a representative said.
"Standard Bank strives to provide financial solutions that meet our customers’ needs and contribute towards a consistently positive customer experience. As such, we welcome feedback from our customers as it will assist Standard Bank in improving our service.”
Pretorious responded saying that he fully understands that human error is a part of what he calls the “human condition" of which we all suffer.
"Striving for perfection within the financial institution should be the first goal as they are dealing with people’s lives and financial reputations and looking at my own experience perhaps Standard bank suffers too much from the 'human condition'", he added.
Consumers who feel that they are being treated unfairly by their financial institution should follow a three step plan, advised Pretorious.
"Access the Code of Banking Practice which details how the banks need to treat their customers, write or call to the bank complaints centre and then if unable to find amicable resolution, take the matter up with the Ombudsman for Banking Services."
- Fin24
Disclaimer: All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.
"We recently purchased a house through Standard Bank [and] it took over a month for the bond to be finalised before going through the normal legislative processes."
Pretorious said the application process was extremely cumbersome and the bank also bungled the application.
The wrong ERF was evaluated and they were advised to take the incorrect bond type.
"As had been communicated to the bank the property was being registered at a higher amount at the deeds office as we knew we would be doing renovations and additions."
The pair then had to apply for the shortfall amount, but was again incorrectly advised, which resulted in the delaying of the initial application.
"Due to the incorrect applications processed they have also wasted the valuable time of the attorneys who had to draw up contracts for us to sign, which in the end became unnecessary."
Pretorious decided to lodge a complaint with Standard Bank after not getting any feedback.
He said e-mail correspondence indicated that it would take 10 working days to resolve his complaint.
We are sorry
Standard Bank granted the application after Fin24 intervened and issued an apology.
“Standard Bank wishes to apologise to Pretorious and Anderson for the frustration caused," a representative said.
"Standard Bank strives to provide financial solutions that meet our customers’ needs and contribute towards a consistently positive customer experience. As such, we welcome feedback from our customers as it will assist Standard Bank in improving our service.”
Pretorious responded saying that he fully understands that human error is a part of what he calls the “human condition" of which we all suffer.
"Striving for perfection within the financial institution should be the first goal as they are dealing with people’s lives and financial reputations and looking at my own experience perhaps Standard bank suffers too much from the 'human condition'", he added.
Consumers who feel that they are being treated unfairly by their financial institution should follow a three step plan, advised Pretorious.
"Access the Code of Banking Practice which details how the banks need to treat their customers, write or call to the bank complaints centre and then if unable to find amicable resolution, take the matter up with the Ombudsman for Banking Services."
- Fin24
Disclaimer: All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.
