Frustration with Loan Processing and Service Issues

I am writing to express my dissatisfaction with the service I have received from African Bank regarding my short-term loan application. I app**** for the loan in September 2024, and it was approved on the 29th, with the funds deposited into a "My World" account. However, I was never informed or provided an explanation regarding this account. I had expected the funds to be deposited into my personal account since I do not bank with African Bank.

When I realized this, I contacted your customer service and was advised to visit a branch. I first went to the Fourways Branch, where I was told that my biometrics were not working, and was advised to try another branch. I then visited the Westgate Branch, but encountered the same issue. An incident was raised with the IT department on October 5th, 2024, but I still haven’t received any feedback, despite being promised a call.

I visited the Fourways Branch again, where the issue persisted, and once again, the matter was escalated to IT. Unfortunately, I have not received any feedback to date. I also emailed the customer experience department, and they called to inform me that my "My World" account was incomplete. I was given reference number ***, submitted the required documents, yet my account issue remained unresolved.

After calling again this morning, the call agent assisting me requested for the payment to be made to my Standard Bank account, which I was told would take a few days. I was given a reference number again ***.

I received SMS and email notifications stating that the debit order would go off tomorrow, but I still have not received the funds.

I am extremely frustrated as this has taken over two weeks to resolve. Several issues have contributed to my dissatisfaction: The loan department should have realized that the money was being transferred to an inactive account, which would obviously result in the funds bouncing back. There should be a system in place to validate accounts before funds are transferred. There was no communication regarding the incomplete status of my "My World" account. The call center staff have been unhelpful and, at times, lacked knowledge, resulting in multiple transfers between departments. I was never consulted about the debit order date, which is set for the 15th, yet I get paid on the 25th. This inconsistency does not make sense. Despite not having received the funds, your finance department is still attempting to debit my account, which is unacceptable.