Another Bank Robbery

I had an  issue with Standard Bank recently regarding household insurance on a home loan. In short I wanted it cancelled. It was eventually cancelled but they erroneously charged me 2 additional month premiums. When they returned the premiums I was informed "it is not company policy" to return the interest charged.

While the monetary value is not great is this not institutionalised theft? Interest charged is calculated on a daily basis on any funds withdrawn but cannot be returned? Or do they see this as a service charge for the inconvenience of rectifying their own mistakes.

Stay tuned.....

(Last Bank Robbery)

Comments

[Henry]

I love the "It is not company policy" excuse. It amounts to the same as saying "because we don't want to", but makes it sound like a real excuse.

I think I should start using the same approach in my personal life. I.e. "Sorry, it is against my personal policy to complete any telephone surveys from the bank. Please make a note of it."