HomeLettersStill no dividend from Stanchart

Still no dividend from Stanchart

I HOPE through this letter I will grab the powers-that-be’s attention. Almost a year down the line I still await my dividend from Stanchart.

Let me state why I cl

aim to be a Stanchart shareholder. At the height of the cash crisis, on August 21 2003 at 11:49hrs to be exact, I decided to use my Zimbank Visa Electron card in a Stanchart credit card machine to make a purchase at Open House Hardware along Speke Avenue.

I purchased 8x80mm rawl bolts at $1 680 each. The grand total of this purchase including a bank charge of $940,80 amounted to $27 820,80. The till slip number was CS-168794. Unfortunately, the point of sale (POS) machine slip is now blotted and thus unreadable.

All was in order, so I thought. But wait a minute! I got the shock of my life when I received my monthly bank statement from Zimbank. The aforementioned amount had been deducted twice. I straight away lodged a query with my First Street branch where I was attended to by a fellow called Gideon. He acknowledged that there was indeed a mistake and promised to lodge a query with Stanchart.

Subsequent visits to Zimbank produced nothing till I stopped asking for any updates. I was told by Gideon that there wasn’t any response to written queries to the bank. Now as it is the anniversary of this fiasco, I am thinking about what Stanchart has been doing with my money and how much more they have made out of it.

I “believe” (as their motto says) they have been wisely investing it and will soon give me back the full amount plus interest at the obscene rates that they were charging from last year to date.

Oscar Shelton,


Stanchart responds:

FROM our initial investigations, it appears that the customer is confusing Standard Chartered Bank with another bank.

This stems from the fact that the company referred to is not a merchant of Standard Chartered Bank. As such, there does not appear to be any basis for any liability by ourselves.

Secondly, we have looked through our records and cannot trace any contacts from Gideon of Zimbank relating to the matter raised by Shelton. We would be grateful to have Gideon’s contact number at Zimbank to enable us to carry out an investigation if necessary.

Errors of duplicated entries do occur from time to time in the financial services sector and where these occur in our bank, we always take prompt corrective action accompanied by a letter of apology to the customer concerned.

Our head of cards, Charlton Goredema can be reached on 250152 should anyone have queries.

Geraldine Matchaba-Hove,

Head of corporate affairs


Recent Posts

Stories you will enjoy

Recommended reading