LISTEN: Were you double deducted on transactions by Standard Bank? Reimbursement info here
Standard Bank's CEO has apologised to customers after a technical glitch led to money being deducted from the accounts of hundreds of cheque and debit cardholders.
Clients complained after their cheque accounts were debited more than once overnight.
CEO, Lungisa Fuzile says a systems update appears to have been the problem.
He says it sparked a fault that led to unauthorised or double transactions between the 2nd of February and early this month. Fuzile says technicians have been working day and night to fix the problem.
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The bank identified all those affected and will return all monies and associated fees by today at the latest.
He says, for most of their clients, the issue has been resolved.
"What we however feel we have to clean up is the process of dealing with interest deductions that may have occurred and any other residual issues that arose from this, to make sure that financially the people affected have back in their account, the full amount that was taken."
Listen to the full interview with Lungisa Fuzile:
