1 reviews | Active since Aug 2014
African Bank Possibly Violating Banking Regulations, Reckless Lending and dirty tricks to make profit from loans
I have reported this conduct to the banking authorities, I hope they find them guilty of violating the banking act and the credit regulations. African Bank is a useless bank with *********** consultants that fail to take simple instructions. STAY AWAY from AFRICAN BANK!!!!!
I app**** for a loan for amount ***X and the bank approved me for amount YYYY which was way above what I app**** for, if this is not reckless lending then I don't know what it is!
I asked them to only grant me what I app**** for they made the situation impossible claiming they cant, I would need to reapply from the beginning like how? so I accepted the amount and after one day I repaid the load with the full access amount. the instalment was revised back to where it was supposed to be. from then I notified them that I have intensions of paying up this loan fast to save up on interest and asked them not to adjust my instalment when ever I paid extra.
They repeatedly ignored my requests, attempting to debit lower amount, I rejected all their lower amounts debit orders, they just didn't listen and kept on debit less, they messed up my account with FNB as I was charged debit order reversal fees. I then revoked their debit order rights and paid them via EFT.
