Credit Bully

I subscribed to Credit Genie. They have an initiation fee of R395.00 which is a once-off fee deducted for various admin and the like. They also have a cooling off period during which you can cancel your subscription and have a full refund of the initiation fee. So I phoned this morning (Friday 31 Jan 2020) and requested that the subscription be cancelled. I was told to email that accounts department and request the refund, which I did.

I received confirmation that my request as received and waited for the response on when it will be refunded. I received an email a little while later telling me that my refund has been approved but that it will only be paid out on 28 Feb 2020. I find this to be extremely unfair towards me as a consumer as I feel that Credit Genie didn't have to wait for their R395.00 for one single minute to be deducted from my account but I have to now wait a month for my refund? Why can't they refund me within 24 hours? So now my money will be lying in their account drawing interest instead of drawing interest in my account where it should be. And yes, maybe it seems a small amount that we are talking about but think about the loads of refunds that might be lying in their account and drawing interest then we are talking about a hefty amount that they are gaining unfairly.

We as consumers also have rights and shouldn't be bul**** by organisations such as Credit Genie. It is unfair that they gain advantage through practices like this.