Standard Bank now charging for Cheque deposits.

Mars

Mars

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As of the beginning of the year Standard Bank have started charging R12.50 for every cheque I deposit into my account! As a business I can take 5 to 10 cheques a day.
So even if I only take 100 cheques a month thats R1250 that standard bank have decided to charge me for nothing. Without notification of any kind.

I phoned the branch manager and she tried to feed me some horse manure about "its a standard thing now" and that its "across the board".
I phoned FNB and they have no intention of charging a cheque deposit fee.
Come Monday I am moving my account away from the thieves and going with FNB.
 
that's ridiculous. you could end up paying a small fortune on bank fees aka diddly squat.

luckily you picked it up, think of those that don't :eek:
 
We need a, Banking with ABSA, STD, Nedbank? Your bank sucks, move to FNB, sticky!
 
Madman88 said:
As of the beginning of the year Standard Bank have started charging R12.50 for every cheque I deposit into my account! As a business I can take 5 to 10 cheques a day.
So even if I only take 100 cheques a month thats R1250 that standard bank have decided to charge me for nothing. Without notification of any kind.

I phoned the branch manager and she tried to feed me some horse manure about "its a standard thing now" and that its "across the board".
I phoned FNB and they have no intention of charging a cheque deposit fee.
Come Monday I am moving my account away from the thieves and going with FNB.
Click to expand...

We were notified by somebody in the bank that it would apply to personal accounts only, next thing you know, WITHOUT notice, our business account is also getting charged this ridiculous fee...
 
There was a time a few years back when Standard were really the best bank with the best service and lowest charges. Somehow they managed to regress and I too swtiched to FNB last year who don't have the best service but do have the lowest charges (and since everyone's service sucks, price is the only thing left to compare).
 
oronte said:
There was a time a few years back when Standard were really the best bank with the best service and lowest charges. Somehow they managed to regress and I too swtiched to FNB last year who don't have the best service but do have the lowest charges (and since everyone's service sucks, price is the only thing left to compare).
Click to expand...

That's why I joined them about 7/8 years ago. Now every month I ask myself why I'm still with them.

Nerfherder said:
Who the hell uses checks these days ?
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Was wondering that as well. I had (still have) a cheque book for years. Never used it.
 
Does anybody know if Absa is also charging for cheque deposits?
 
the reason banks are starting to charge money like this for cheque deposits is simple, they are forcing consumers to stop using cheques. it's more risky than eft and is more cumbersome for them.
 
wallsend said:
the reason banks are starting to charge money like this for cheque deposits is simple, they are forcing consumers to stop using cheques. it's more risky than eft and is more cumbersome for them.
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+1 high risk of fraud
 
Madman88 said:
As of the beginning of the year Standard Bank have started charging R12.50 for every cheque I deposit into my account!
Click to expand...

Just check if it's per cheque or per deposit.
I deposited three cheques into my account last week and I was only charged R12.50 for the transaction.
 
Paul_S said:
Just check if it's per cheque or per deposit.
I deposited three cheques into my account last week and I was only charged R12.50 for the transaction.
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Yip, it must be per deposit as the maximum total fee is R12.50
 
rph72 said:
Yip, it must be per deposit as the maximum total fee is R12.50
Click to expand...

FNB also charges:
Cheque Deposit
FNB ATM with envelope or automated deposits (ADT) - Free
FNB Branch - R13.50

At least it's free at an ATM.
 
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