Standard Bank trends as customers’ transactions deducted twice

Standard Bank trended on social media as angry customers noticed their card transactions being deducted twice from their accounts.

The issue emerged on Wednesday evening (3 March) and continued into Thursday. At the time of writing, the issue had not been resolved.

Standard Bank noted that recent credit and debit card transactions had deducted more than once from accounts.

We are aware that recent credit and debit card transactions have been deducted more than once. We are addressing urgently and all affected transactions will be reversed as soon as possible. We apologise for the inconvenience.

— StandardBankZA (@StandardBankZA) March 4, 2021

In an update at 10.32am on Thursday, the company said that it would reverse any duplicate transactions and associated fees for customers affected by the issue.

[UPDATE]: We are aware that some recent cheque card transactions have been deducted more than once. We have identified all affected customers and will reverse all affected transactions and associated fees by tomorrow at the latest. We apologise for the inconvenience. https://t.co/9h3zLuNbx8

— StandardBankZA (@StandardBankZA) March 4, 2021

It said these reversals would reflect by 5 March.

However, customers continued to express frustration as some duplicate transactions pushed accounts into overdraft or left people with no funds.

Some shared screenshots showing duplicate transactions amounting to thousands of rands.

The bank said that it is processing reversals, but could not specify turnaround times.

Standard Bank added that it would share an update once the issue had been resolved.

It says that the support team has identified the issue as well as all affected transactions. The bank also apologised to customers.

It’s unclear just how many customers have been affected by the glitch. However, nearly 2000 tweets mentioning the bank appear under the Twitter trend.

Meanwhile, many customers continue to tag the bank in tweets asking about the issue.

Standard Bank said it’s team is reversing these transactions “as soon as possible”.

Feature image: Anete Lusina/Pexels

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