APPALING SERVICE

Disappointment is an understatement. I was enticed by consultant Jade ( whom the bank is distancing themselves from) at Columbine Square Capitec to take out a access facility, the gent would call me weekly to sell it to me. I finally gave in based on one piece of information ( the interest rate is fixed according to Jade) who further committed to me if the rate changes he will take up the matter for me. Fast forward many months later, not only has the rate increased with every Repo rate increase, capitec extended a 55k to me as they were happy that I moved my banking portfolio over. I later decided to join Standard bank as they ( Capitec) decided) without warning to decrease the amount to about +/- 35k. I used up the access facility for advancement ( as Im well within my right), the fundamental existence and purpose of the access facility is for you to have "ACCESS' to the monies you paid back as per their contract. Now firstly the bank has penalised me for the use of the monies which I pay back ( which is the purpose of the access facility), secondly I moved to another bank, this combination of events spurred on a, what I would like to call "interest loop repayment" where they reduce the amount they initially gave you access to, secondly they without or close off your access facility all together, and last nail in the coffin, the reduction of the amount now makes repayment much higher based on the interest. Banks like these, knowing well they need clients to survive will always find a way to get back at you just for terminating their services ( salary bank). It makes no sense to go against what an "access facility" main purpose is, then also to keep the clients in an interest loop where you find yourself just paying for interest and not even touching the total amount owed. I'm waiting to be proved wrong.