1 reviews | Active since Dec 2011
Assets Finance - R240 000 not affordable, R500 000 approve in same day
So I (my business) have been with ABSA since 2011. Everything is/was with them, current account, savings account, business loan, assets finance, 4 vehicles, credit card, overdraft, garage cards....
So now I want to buy a printer of R240000. Two weeks and the excuses first was that the person working with it was on leave, the other one in meetings, etc... Eventually declined... Lets try again in 3 months, the business manager does not know what we do!
Cant blame him as my account was moved without my knowledge and I am now dealing with the 4th business manager in 18 months. That is how ABSA build a relationship.
So I decided to test ABSA's policies and principles. I app**** for vehicle finance for a 5th vehicle. Not trading any vehicle, just a new additional purchase.... Result??? R500 000 approved withing 5 hours.
Now I need to know from ABSA, how is this possible, or do we in South Africa have 2 sets of criteria for loans? As I understand ABSA imply that I cant afford an installment on a R240000 loan, but according to ABSA I can afford the installment on a R500 000 loan. This is ABSA for you!!!! You cant be approved for R240 000, but double that and you get approval the same day!
The same ABSA who declined my home loan (with a basically 50% deposit) while Standard Bank approved it. They even gave me a better interest rate when the took over my personal business. They pushed for my business accounts as well, but I felt that the 7 year relationship must stand for something. Apparently not. So I assume it is the correct time now to start looking at Standard Bank as a business partner! ABSA is definitely not that interested!
Dear Client
Thank you for bringing this matter to our attention. We will investigate the matter and provide feedback once the matter has been resolved.
Regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd
Dear Client
Thank you for bringing this matter to our attention. We will investigate the matter and provide feedback once the matter has been resolved.
Regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd
