Standard bank

Standard Bank seems to have rectified its system glitches after the bank experienced problems.

Standard Bank reportedly deducted its customer’s bank accounts more than once for the same transactions.

In a statement, the bank claimed that it had reversed the transactions. “A small percentage of cheque card Point of Sale and E-Commerce transactions were impacted. For the frustration caused, we sincerely apologise.”

Standard Bank trended on Twitter on Thursday for all the wrong reasons.

Angry customers took to the social media platform from Wednesday evening to complain about the bank.

The amounts deducted twice ranged from anything between R100 and more than R1 000.

After the customers alerted the bank about its problem, the bank responded on Twitter promising to fix the problem. “We are aware that recent credit and debit card transactions have been deducted more than once. We are addressing (this) urgently, and all affected transactions will be reversed as soon as possible.”

It was not the first time in a short period that the bank experienced a technical glitch. Last month on the 25, the bank also experienced technical problems. At the time, it said “Our technical team is still working on resolving the challenges you may be experiencing with our digital channels. Please make use of our cellphone banking, swipe your card or use our ATMs as alternatives. We apologise for the inconvenience and will keep you updated.”

Last March, Standard Bank said it had spent R7. 5-billion on IT licenses, maintenance, and related costs in the 2019 financial year, up 17% from a year earlier.

Its full-year results for the period ended 31 December 2020 are due out next week Thursday, 11 March.

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