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Thread: Standard Bank now charging for Cheque deposits.

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    Super Grandmaster Madman88's Avatar
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    Default Standard Bank now charging for Cheque deposits.

    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.
    I am 13531

    "Balance is the key to everything, without it we would just keep falling over."

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    Sports Addict Wall's Avatar
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    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
    You'll Never Walk Alone

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    Quote Originally Posted by Madman88 View Post
    Come Monday I am moving my account away from the thieves and going with FNB.
    Best thing you could do. Schlep or not, voting with your feet is extremely NB.

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    We need a, Banking with ABSA, STD, Nedbank? Your bank sucks, move to FNB, sticky!

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    Super Grandmaster mister's Avatar
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    Quote Originally Posted by Madman88 View Post
    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.
    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...

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    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).

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    The deposit fees can be found here
    http://www.standardbank.co.za/pdfs/p...urrent_Acc.pdf
    I couldn't determine if there was a charge to deposit the cheques at an ATM. Might be a loophole.
    Donn Edwards
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    Chief Sports Analyst SinghDude's Avatar
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    Standard bank will $crew you for every cent if you dont wise up.

    Standard [email protected] sucks.
    "The success you are enjoying today is the result of the price you have paid in the past."

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    Super Grandmaster Nerfherder's Avatar
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    Who the hell uses checks these days ?
    "What can be asserted without proof can be dismissed without proof." ~ Christopher Hitchens

    My idea of "Help from above" is a sniper on a roof.

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    Quote Originally Posted by oronte View Post
    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).
    That's why I joined them about 7/8 years ago. Now every month I ask myself why I'm still with them.

    Quote Originally Posted by Nerfherder View Post
    Who the hell uses checks these days ?
    Was wondering that as well. I had (still have) a cheque book for years. Never used it.

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    Does anybody know if Absa is also charging for cheque deposits?

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    Sports Addict Wall's Avatar
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    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.
    You'll Never Walk Alone

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    Quote Originally Posted by wallsend View Post
    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.
    +1 high risk of fraud

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    Super Grandmaster mister's Avatar
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    Quote Originally Posted by donn_edwards View Post
    The deposit fees can be found here
    http://www.standardbank.co.za/pdfs/p...urrent_Acc.pdf
    I couldn't determine if there was a charge to deposit the cheques at an ATM. Might be a loophole.
    The fee applies to ATM cheque deposits as well.

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    Quote Originally Posted by Madman88 View Post
    As of the beginning of the year Standard Bank have started charging R12.50 for every cheque I deposit into my account!
    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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