Complaint / review text:
We bought a house in April with a bond from Standard Bank. We did not sign/give permission for any life insurance or short term insurance. We picked up that a short term insurance was taken out on our name, withour our permission, and we stopped that. Then we were shocked when we realised more than R2000 were debited from our account for a life insurance. We did not sign anything. We did not give permission for this. We received phone calls offering insurance, but we declined it. We also just received a letter saying that we took out a protection plan, that we did not take out. The monthly amount is almost the same than our bond repayment! Unbelievable. We visited the local Standard Bank regarding the life insurance, they made some phone calls and then told us to send an e-mail. We have sent an e-mail and still haven't heard anything or received our money back. We are urgently waiting for confirmation that the insurance and now the protection plan, was cancelled and that we will receive our money back. We have our own life insurance that covers the home loan, but was never asked for proof of it. It seems like standard bank is taking money wherever they can - without permission!