Standard Bank helps reunite clients with unclaimed pension funds and more

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Standard Bank helps reunite clients with unclaimed pension funds and more
Dr Belinda Rathogwa is the Head of Digital e-Commerce. PHOTO: SUPPLIED

Standard Bank, in collaboration with unclaimed benefits tracing company, Robin Hood, has made it easier for people who are struggling to access previously unclaimed dividends, pension, and insurance benefits through the bank’s banking app.

This is in accordance to the Financial Sector Conduct Authority that mentioned that there is R89 billion in unclaimed benefits from 2022 that needed to be given to their rightful owners.

“This is money that could change lives and boost the economy. By removing the requirement for clients to individually approach funds to submit claims, we are making it easier for clients to be reunited with their unclaimed benefits,” said Dr Belinda Rathogwa, Standard Bank’s Head of Digital and E-commerce.

Rathogwa further mentioned that the bank is partnering with more retirement funds, share schemes, and insurers through their Corporate and Investment Banking division to expand the benefits that clients can claim through Standard Bank’s banking app.

“The more funds that join, the more value we can put back into the hands of clients,” added Dr Rathogwa.

Standard Bank clients who have unclaimed benefits registered with Robin Hood will be notified when they log into the banking app. Customers who suspect they have unclaimed benefits do not need to contact the bank. Standard Bank will proactively notify clients of any potential unclaimed benefit, through the banking app.

Compiled by Abigail Visagie

Abigail@mahareng.co.za

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