EFT clearance time (2024)

‎19-04-201603:15 PM

I am familiar with the reasons tabled for the undue delays encountered... I am also aware of the variuos systems in place, and am familiar with EFT transfer times and practices with many of the other significant commencial banks. I can confirm that Standard Bank, is the slowest / worst performer of ALL... and, it appears, deliberately so. When enquiring, the Help desk operators, who obviously are not empowered to provide any assistance other that read out the '3 working day' nonsense. Efforts to Log a Complaint were unsuccessful, as were requests to speak to someone in a position of authority... Looks like the powers to be, live behing closed doors, curtained from clients, and lead to believe their customers are 'Happy'. Can you PLEASE explain to us earthlings, What happens to the Funds... when (a) No Longer in the Payees Account... and (b) Not Yet Credited to the intended Recipients account... I.e. in 'No Mans Land?' What happens to Interest Due in this interim period? I received a PoP from ABSA on Friday Last week, and now, at COB on Tuesday... Still absolutely Zero has appeared in my account. All attempts to get someone from Standard Bank to look up and advise on 'pending-payments' into ones account hit a blank, insensitive wall. I am, quite franky feedup, not disallusioned, as this is par for the course, in terms of related Standar Bank experiences. Impossible to get to talk to people who may possibly care about service levels.

EFT clearance time (2024)
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