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Siphiwe M

1 reviews | Active since Aug 2014

01 Apr 2022, 15:33

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.

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Replies (1)
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Siphiwe M's update04 Apr 2022, 12:39
Reviewer Update
No One has called me, I have been talking to African Bank for 11 months those retarded consultants are incapable of comprehension. listen to all the voice recording and hear how simple my message has been and how grossly ignored the message was. African Bank deliberately violates the regulations to make more interest out of its clients!