FICA

[czc]

I got an SMS from Standard Bank saying that I have to come with my ID and Proof of Address else they would close my account.

What the hell is up with that? To open the account I had to give them my ID and Proof of Address. Is this a scam of some sort?

 

[AdrianH]

I doubt it but I would first just phone your branch and ask them if you are FICAed.

Either way, if you are not FICAed, you need to get FICAed. (that sentence just sounds wrong)

 

[Dolby]

I also opened my account my ID etc - but received the same SMS after 2 months.

They then blocked my accounts when I argued that I had FICA'd and I cancelled. Used them for all of 3 months

 

[Jola]

Incompetence by the bank !

But you will have to go in - however, kick up a fuss in order to make a point !

You can always complain to https://www.fic.gov.za/, as well as the banks external auditors, stating that there appear to be problems with their FICA procedures and controls.

 

[HavocXphere]

Is this a scam of some sort?

No. Someone at Std Bank munches the FICA docs so everyone has to do it multiple times.

 

[guest2013-1]

Let them close your account. Just make sure to (in written form) notify them of your intent to sue them if any bank charges are levied after the time they mentioned they'll close your account if you're not fica'ed

 

[D3x!]

It is actually quite scary, last year a colleague of mine had the same thing, he had to go into the bank and provide proof of address, ID, etc

With all your money tied up with them and to find out your account has only a name and phone number connected to it.

It was also STD bank.

 

[davemc]

I suppose your only possible insurance against this bull is to force them to provide you with proof of RICA compliance when you do RICA.
However, nothing stops the bank from deciding to "loose" your FICA documents at any time.
The onus will always be on you to fix the "problem".

 

[Billy]

The banks are obligated under FICA to ensure that their data is up to date. It would make sense to check the address of all clients in rented accommodation regularly.

 

[syntax]

No. Someone at Std Bank munches the FICA docs so everyone has to do it multiple times.

Indeed, I have probably done it 5 times now.
Purchasing a new house, and they have asked for the FICA docs at least another 5 times during this process

 

[Kloofvreter]

Wonder why people are moaning about FICA and RICA It's hardly any effort.

 

[Goobie]

Wonder why people are moaning about FICA and RICA It's hardly any effort.

Are you fcking serious or just trying to elicit a response?

 

[syntax]

Wonder why people are moaning about FICA and RICA It's hardly any effort.

To do it once, I agree. On the tenth time it gets a bit much

 

[Kloofvreter]

Are you fcking serious or just trying to elicit a response?

I'm fcking serious.