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Standard Bank has launched Debt Care Center services on Facebook Instant Messaging and WeChat. Here are some FAQs on how the service works.
If you are a Standard Bank customer experiencing financial distress, you can initiate contact with the Debt Care Centre provided that you are already in arrears or if you believe you are possibly going into arrears soon. You can now have your Financial Debt queries answered by a Virtual Banking team via chat in real time.
Here’s what you need to know:
How can I contact the Debt Care Centre?
Channels of Communication:
Clients can contact the Debt Care Centre via the following channels:
What are some of the solutions available?
The Debt Care Centre does not apply generic solutions. Instead, agents tailor make solutions to meet the needs of the Customer. Examples of the solutions include:
When a Customer can no longer afford to make his / her contractual payment, we can extend the repayment term, depending on the circumstances. In such instances, the Customer will have to pay off the loan amount over a longer time but the repayment instalment will decrease and the Customer will have more funds.
Combine multiple debts into a single manageable account. Interest rates on credit agreements vary depending on the product and credit provider. By consolidating debts, one interest rate is payable, possibly resulting in a decrease in the repayment amount.
When early arrears are detected, a possible respread of the arrears can be done on the Account. We respread the arrear amount over the remaining term and your Account will no longer be delinquent.
A payment holiday is an option that allows you to take a break from your repayments for a period of one to three months. During this time, you can save your money and sort out your other credit commitments.
What are the Terms and Conditions of the service?
Please find terms and conditions here: www.standardbank.co.za/imterms
The terms and conditions apply when you communicate with us through any Approved Messaging Platform. They will not apply if you communicate or transact with us via email, sms, telephone, mobile phone or internet banking.
Is this platform secure?
Our Facebook and WeChat platforms are safe and secure. We apply an encryption to the message content preventing third parties from reading into our messages. This means that we are indeed safe and secure. All information shared via this platform is confidential and legally, we cannot share such information without your consent.
Can anyone else view our conversation?
No. Messages have encryption. The only persons that can view the content are yourself and the Debt Care Centre. Messages will not post to your wall and no other third party will be in a position to view the conversation.
What measures are in place to prevent fraud?
There are various methods employed by the Bank to verify the identity of the Customer. Should you suspect fraud, please feel free to contact us on 0860 111 400.
How does authentication work?
You will be required to provide your Identity Number. You are then required to answer three security questions to verify your identity.
What can I do via the platform?
The Debt Care Centre is here to assist with any queries regarding the performance of your credit agreements with the Bank.
Should you wish to transact on your Account(s) and you are either a Private, Prestige or Business Banking Customer, please select the Instant Messaging option.
What can the Debt Care Centre do for me?
After careful investigation of your financial position, we will provide you with a possible solution that rehabilitates you. This means that we will work to tailor make a package that meets all of your needs.
Some of the solutions include a payment holiday, a moratorium on some of your credit agreements, debt consolidation and many many more.
Why are you using Facebook Messenger to contact me?
You have previously registered on the Standard Bank Instant Messaging platform. The Debt Care Centre actively reviews the performance of our Customer's Accounts to understand changing needs. Having viewed the performance of your accounts, we decided to establish contact and understand what your challenges are and what your next is. We want to help you along that ride.
Can I get a payment holiday?
We can grant a payment holiday to over indebted Customers in exceptional circumstances and is only one of a variety of solutions that we offer. Please allow us to continue with a portfolio evaluation prior to us providing you with a viable solution.
Can you help with my external debt as well?
Depending on your affordability, we may be able to assist you with external debts as well.
How can I deregister from the service?
You may send a message over Facebook Instant Messenger or WeChat requesting to opt out of the service and we will manually deregister you.
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