Very dissapointed

I took out a loan with Capfin via the USSD (*120*6454) on the 4th of July. I got a Debi check on Monday 4th July which I approved with amount and date of debit.

I called the call centre on the 5th of July to find out how long the loan approval is going to take because I only received an sms from Cafin thanking me for completing my loan via their USSD service and that its being processed. No further correspondence was received. The first consultant I spoke to said they are awaiting confirmation from my bank w.r.t debi check. I told her I already approved the debi check on Monday but I haven't received confirmation from Capfin or Loan Approval sms as I have before. She said i must speak to my bank and found out what is the delay.

I called my bank and they told me there is no delay on their side because if i check on my app I will see that under my debi check approval list, Capfin is already registered.

I called Capfin again and spoke to a different consultant. I conveyed the information to her that my bank gave. She told me there is nothing she can do i must just wait for them Capfin to contact me.

On the 7th I called Capfin again. This consultant told me that my application has been approved from their side but they are waiting on the bank. I explained to him again what the bank told me and he said the same thing-Capfin will contact me when my loan is processed. I asked him, if my loan is approved, what else needs to be processed? He said he is not sure.

8 July I called Capfin again to get a status update. The Consultant i spoke to said on the system it shows my loan is being processed. I asked her when will i get confirmation w.r.t the availability of the funds. She said she can't access the system to get that information. She asked me to hold and said that she will speak to her supervisor. After holding for a few minutes she returned and asked me to hold again she just has to check something. After a few minutes she spoke to me again and told me that it is processing, maybe later it will have a different status. She will call me back later after 2 hours. After waiting for 2h30min I made a request via the USSD for a call back. A different consultant called me and I had to explain my whole situation again! She then said, Normally Capfin pays out application within 48hours. She is not sure why my application is still pending but she apologizes for the inconvenience.

I called my bank again and they don't need to do anything on there side as approving the Debi check was sufficient. The fact that The new Loan Mandate is under my Debi-check approval list means that their part has been done, CAPFIN must proceed with payment of the funds.

I have app**** for loans from Capfin in the past and their service was never questionable up until now. Normally I'd complete an application and after everything is sorted, my funds would be in my account in less than 48hours.

I am still waiting until now!

I am very dissapointed in the service I've received this week.