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Sunday, November 29, 2020

Shock as 70-year-old loses Sh. 1.3 million in her StanChart Bank account

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StanChart Bank Account: Over the past few days, the customer rating on Standard Chartered Bank Kenya’s Facebook account has fallen from 4 stars to one. The reviews section is also filled with criticism. The bank’s app has also been downgraded from 4.4 to just 1.1. All this comes as reaction after a case involving a customer at the bank, and the bank’s response went viral.

The case involves a 70 year old woman who had lost her entire pension amounting to Sh. 1.3 million in the bank.

“My mum who is 70 years, and whose account is account 0100319393600 (Harambee Avenue branch) found her account emptied of her pension funds of Kes. 1,370,000 on 4th September, 2020, through suspected internal collusion. Whenever she has tried to contact Stanchart, they refuse to talk to her. Keep note that this is a 70 year old who retired over 15 year ago and who is now financially destabilized and has to operate by borrowing funds to survive from relatives, while she had organized her finances. Where is the fiduciary responsibility for this pensioner! Does Stanchart have a heart or even care?” a social media user posted.

How Sh. 200,000 can give you Sh. 1 million within two years

As the criticism raged on, the bank came out to say that it was aware of the case. “Dear xxx, we are aware of the post circulating on social media. We would like to assure you that all fraud cases are thoroughly investigated. This matter was investigated and a response was provided to the client,” the bank said.

This is the latest case of bank customers losing money in their accounts. In June this year, Absa offered to refund a customer Sh. 80,000 that she had lost in her account. The customer who was identified as Winnie had accused the bank of laxity after the funds were withdrawn from her bank account by hackers.

StanChart, though, has not declared whether it will refund the money to the customer or not. Critics have however interpreted its silence as a sign that it will not refund the customer. StanChart Bank Account.

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