I sent the email below to Standard Bank's Fraud Department regarding the fraud to my credit card account on June 29 this year. Sub-Standard Bank has lost another client as I finally lose patience.
The matter has still not been resolved. I reported the fraud immediately and simultaneously received from them a text message and phone call about the "Etechpro" fraudulent transaction of over R6 000. The operator said they would contact me "within 48 hours". Three days later I got a text message the Etechpro transaction had not been processed which means there was still time to cancel or reverse it. But a week after the fraud, when Standard Bank had not contacted me, I emailed them.
To cut a long story, without listening to my report (they said I "refused" to speak to them which was untrue because I had told the fraud department operator what happened), they said the Etechpro transaction was done on the Internet and I must've given my one-time password (OTP) to the fraudster. But I'm not registered for and don't do Internet and cell phone banking.
They refused to explain their week-long neglect and delays that allowed the transaction to proceed, and if they reported the frauds to the police or the banking Prudential Authority. Also, I met the terms and conditions of my contract that I report the fraud immediately failing which I would be responsible for the amount. Note it's industry practice for banks to refund defrauded credit card customers if they report the fraud immediately.
In July Standard Bank notified customers of a large-scale fraud attack against customers, of which these customers were also affected who had a poor and tardy response from them. But they won't accept their share of blame. Compare the way British Airways managed a hack on its customers' card accounts - the CEO apologised and promised compensation. But Standard Bank's CEO couldn't care less, walking away with a R48 million salary package.
It's clear to me there's a huge breakdown of communication at the bank. Employees are not communicating with clients and each other; my emails were "not read, trashed or filed without action". As I wrote, what's going on "doesn't appear good and inspire confidence you know what you're doing and can responsibly and safely manage customers' money". I was hoping they would sort it out but it's three months now. They made the decision for me to close my accounts that I had put on hold (I already closed the credit card account on August 6 but as of September 6 it's still active).
To: Fraud Query Management, Standard Bank
The matter has still not been resolved. I reported the fraud immediately and simultaneously received from them a text message and phone call about the "Etechpro" fraudulent transaction of over R6 000. The operator said they would contact me "within 48 hours". Three days later I got a text message the Etechpro transaction had not been processed which means there was still time to cancel or reverse it. But a week after the fraud, when Standard Bank had not contacted me, I emailed them.
To cut a long story, without listening to my report (they said I "refused" to speak to them which was untrue because I had told the fraud department operator what happened), they said the Etechpro transaction was done on the Internet and I must've given my one-time password (OTP) to the fraudster. But I'm not registered for and don't do Internet and cell phone banking.
They refused to explain their week-long neglect and delays that allowed the transaction to proceed, and if they reported the frauds to the police or the banking Prudential Authority. Also, I met the terms and conditions of my contract that I report the fraud immediately failing which I would be responsible for the amount. Note it's industry practice for banks to refund defrauded credit card customers if they report the fraud immediately.
In July Standard Bank notified customers of a large-scale fraud attack against customers, of which these customers were also affected who had a poor and tardy response from them. But they won't accept their share of blame. Compare the way British Airways managed a hack on its customers' card accounts - the CEO apologised and promised compensation. But Standard Bank's CEO couldn't care less, walking away with a R48 million salary package.
It's clear to me there's a huge breakdown of communication at the bank. Employees are not communicating with clients and each other; my emails were "not read, trashed or filed without action". As I wrote, what's going on "doesn't appear good and inspire confidence you know what you're doing and can responsibly and safely manage customers' money". I was hoping they would sort it out but it's three months now. They made the decision for me to close my accounts that I had put on hold (I already closed the credit card account on August 6 but as of September 6 it's still active).
To: Fraud Query Management, Standard Bank
20 September 2018
Dear Sir
Yesterday and this morning two different people from your department called about the fraud to my credit card account requiring my answer to your email of July 8 and offer of 50%, i.e., R3,106.60.
I told the caller this morning I had a lengthy conversation yesterday with your employee "Bronwyn". I asked if Bronwyn had reported what I said, and if not, she should find out because I wasn't going to repeat myself.
I told Bronwyn I had replied at the time to your email of July 8 and sent numerous other emails and letters and received no substantive reply. It appears they were either not read, trashed or filed without action. I suggested you review them first and then we can talk.
But the call this morning proves what I told both callers that there is a severe communication break down at Standard Bank - you're not talking to each other and customers. I can't say what's going on but it doesn't appear good and inspire confidence you know what you're doing and can responsibly and safely manage customers' money.
Regards
- I rejected your offer of 50%. I demand a complete refund - you deducted the full R6000-plus "Etechpro" defrauded money from my savings account last month - for reasons already given.
- I'm deeply disappointed and disillusioned by Standard Bank's market conduct in this case.
- I closed my credit card account. And while I was only considering closing my other Standard Bank accounts due to your poor customer service performance, the fact I received another call today from an employee who had no idea of the one yesterday and that you're unaware of my previous emails, proves your case management of the fraud and customer relations is dismal. It's making the decision for me.
This customer (Hellopeter.com) also experienced poor service from your department. He said: "I am utterly disappointed in the Standard Bank's inability to deal with my query, especially seeing that it is fraud related (a serious matter). I have lost all confidence in the brand! ... You have lost a client in me." Note he received a (full) refund.
Other customers too are affected. My experience is far worse, irrevocably so.
Regards
Update: Standard Bank sent a text message on 22/09/2018 that the amount, in full, will be deposited into my account.
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