Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Bank practice or rank bad practice ?

Reply
partridge
Super Contributor
I have had a small savings account with Std "for ever"- used so infrequently that I cannot actually remember when last I transferred money into or out of it. My domestic worker asked me to save some of her salary for the balance of the year and I have done so in this account - ( for noteworthy interest as we know) but picked up the alarming fact that the bank actually charges ( wait for it, the nomenclature is beyond belief ) a "management fee "of R17.00 pm. So, over the year to date R193.00 has been charged for this service. I wonder why clients walk.
0 Kudos
13 REPLIES 13
Preston
Super Contributor
Speak to the Branch Manager, it can be reversed.
0 Kudos
Preston
Super Contributor
Speak to the Branch Manager, it can be reversed.
0 Kudos
partridge
Super Contributor
Preston Thanks. I will do so - but what is the basis for reversing this "management fee" - they like my face? ( did this happen to you?)
0 Kudos
Preston
Super Contributor
I work for the most innovative bank in SA. Prepare your argument around the % bank charges is , in relation to the total balance. 2) You beleive that the bank charges are excessive. 3) What is the "Value added" benefit of that bank charges in relation to an account that is relatively inactive? 4) If he say no, politely advise him that you will be contacting OMBUDMANS. 5) Ask him what available product they have that can reduce the bank charges?
0 Kudos
Preston
Super Contributor
2 year ago, someone clone my card and defrauded me for a substantial amount of cash. Fraud dept was acting technical with me stating that this is a 6 weeks process and i will be accountable for the interest on the account. After an heated exchange with the Head of the Fraud dept, i decide to override him and subsequently despatched an e-mail to the CEO of the Bank. Within 2 day, everything was reversed ,even the bank charges on the transcations.
0 Kudos
SimonPB
Valued Contributor
you work for capitec, didn't know that
0 Kudos
Preston
Super Contributor
0 Kudos
SimonPB
Valued Contributor
but preston colour me confused, (aside from your not knowing where you work) .. you naturally bank with the bank you work at (or do you bank with another bank ??) yet their fraud department is so useless you have to go over their head ..
0 Kudos
Preston
Super Contributor
3 different banks. Sweeping occurs on Payday. Fraud dept will consider everyone a suspect. Unless you stick your "F U" finger in their face and override their protocol, you will be a victim twice over.
0 Kudos
SimonPB
Valued Contributor
three different banks .. rotflmao
0 Kudos
shares
Contributor
I walked more than a year ago to Capitec for much the same reason and haven't looked back. Lower fees, higher interest, better hours, better service - I'm sure you get the idea.
0 Kudos
Prestonmyhusban
Regular Contributor
oi Simon ,stay way from open flames when rotflmao.
0 Kudos
Preston
Super Contributor
0 Kudos