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Burton H

1 reviews | Active since Nov 2013

28 Oct 2021, 21:16

Over charged for settlement now I must beg for my refund

On 05th October 2021 my personal loan statement reflected a capital balance of R27500 and on 20th October 2021 I requested a settlement balance on my account and they quoted me a settlement of R28300 while that very same evening a debit order of R2000 was due to go off. On 21st October 2021 a payment of 27700 was made towards the loan and my debit order of R2000 had gone off aswell. When I contacted Direct Axis to request a refund ad my account was over settled, they requested a proof of payment which I think is crazy when the funds already reflect. Then they advised me that my settlement of R28300 was I addition to my installment meaning that my settlement was over R30000 meaning that I was charged almost R3000 interest on a capital balance of R27500 for a term just over 18 months. Now this very basic calculatio has been escalated to management and I need to wait 5 working days?????????? I want back what is due to me and this account settled.i cannot believe that u people tried to con me like this!!!

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Replies (2)
DirectAxis
DirectAxis's reply29 Oct 2021, 15:21
Official
Hello Burton,  Thank you for reaching out to us.  Please accept our apologies for the unpleasant experience caused while trying to settle your account.  Your settlement quotations calculated on the 20th was inclusive of interest to date.  We’ve received feedback that your account is currently being worked on and a refund has been logged.  We’ll keep you posted every step of the way.  Team DirectAxis 
BH
Burton H's update03 Nov 2021, 11:16
Reviewer Update
Thank you, you response was noted on 29/10/2021 however to date I have not reserved any further comms as you have advised that a refund was logged. What concerns me most is that both payment were made on 20th and 21st October respectively and I have queried my refund since Monday 25th October 2021. I would like to know when I can expect the refund to reflect in my account given the timeframe that has lapsed since the account has been oversettled as well as when I initially raised the concern that the account has been oversettled? This process is taking extremely long because I feel that I am begging for monies that are actually due to me.