Security certificates

[Boipelo23]

Hi @Citizen_Kain 

Thank you for getting in touch,

Please reach out to Eskom directly by sending an email to  [email protected] or call them on 08600 37566​ and highlight the issues you have been experiencing and they will provide direction.

Security cannot be taken by the bank for deposit.

We advise you contact your local municipaity so they can address this matter.

We hope everything goes well.

Kind regards,

Boipelo.

Standard Bank Team

[Citizen_Kain]

Eskom requires hugh sums of money to be deposited with them if a bussiness applies for electrical services from them 

ie three months estimated use. For a bussiness this could be a huge some of money eg 50K to 100K 

This deposit then gets deposited in a bank account of there choice as a guarentee against non-payment etc

Usually when you terminate the service (after a maybe a few years)  it is very difficult to get your deposit back (if at all) from them even if you are not in default

Could a security be taken out with a bank (ie the required amount be deposited as a security held by the bank that can be furnished to Eskom in lieu of the deposit.

and could interest be accrued on that money while it is just kying there.

What about municipal deposits. Normally they never pay deposits back! or tie it down in so much red tape that you give up trying to get it back

[Thokozile_M]

Hi @Citizen_Kain,

We don't quite follow. Would you like to take up a loan? 

Please share more information regarding this so that we can assist further.

Regards,

Thokozile.

Standard Bank Team

[Citizen_Kain]

Dear Bank\

Can I register a security with a bank instead of paying Eskom Enterprises a deposit on a electricity connection

Would I be able to earn interest on