BS
Brian S
1 reviews | Active since Nov 2018
14 Dec 2019, 15:25
Unable to get a loan coz no other bank can debit from discovery bank
Tried to extend a line of credit today at my previous bank capitec but was declined due to them not being able to debit my discovery bank account. The same happened at house and home when I tried to apply for credit there as well. This is highly important as what if this was an emergency or if an undesired event would occur that requires that credit must be used, a person would be left with no suitable option and only worsen the consumer, their credit card option is apparently not available either, the customer care guy spoke to had no idea when it will be available. The implications that this has is absolutely tragic to the clients of discovery bank who will only find out that this is a problem when they are faced with a situation that requires credit, I really don't have any other options but to close my account with discovery bank until they are able to sort their business operations to a point that is acceptable as this is not.
Helpful (0)
Replies (3)0
Replies (3)BS
Brian S's updateReviewer Update
19 Dec 2019, 15:25Discovery gold transaction account
BS
Brian S's update19 Dec 2019, 15:25
Reviewer Update
Discovery gold transaction account
BS
Brian S's updateReviewer Update
10 Jan 2020, 00:19Official capitec response
"As Discovery is not an EDO or AC participant therefore we are unable to grant credit to the clients as we do not utilise EFT debits as a collection stream for these products"
"As Discovery is not an EDO or AC participant therefore we are unable to grant credit to the clients as we do not utilise EFT debits as a collection stream for these products"
Yes I am aware that capitec bank uses EDO/NADEO, AC tracking systems to collect debit orders that is why I came onto hellopeter to write this review. I honestly thought that this was all just a misunderstanding but really discovery bank is not accepting any credit application and no other bank will or can debit from my discovery account because discovery bank is not part of that system. If that statement is true then I'm going to unfortunately change back to capitec bank and close off my account with discovery bank as you guys still haven't sorted things out yet. Please inform your clients about this set back when they sign up, I've just wasted 6 months with a bank that has just brought me stress
BS
Brian S's update10 Jan 2020, 00:19
Reviewer Update
Official capitec response
"As Discovery is not an EDO or AC participant therefore we are unable to grant credit to the clients as we do not utilise EFT debits as a collection stream for these products"
"As Discovery is not an EDO or AC participant therefore we are unable to grant credit to the clients as we do not utilise EFT debits as a collection stream for these products"
Yes I am aware that capitec bank uses EDO/NADEO, AC tracking systems to collect debit orders that is why I came onto hellopeter to write this review. I honestly thought that this was all just a misunderstanding but really discovery bank is not accepting any credit application and no other bank will or can debit from my discovery account because discovery bank is not part of that system. If that statement is true then I'm going to unfortunately change back to capitec bank and close off my account with discovery bank as you guys still haven't sorted things out yet. Please inform your clients about this set back when they sign up, I've just wasted 6 months with a bank that has just brought me stress
BS
Brian S's updateReviewer Update
10 Jan 2020, 00:34"Should you be applying for an increase of our credit card limit held with Capitec. please let us know and we will request for them to investigate further."
Just so that I understand you correctly, you have a credit card limit at capitec that I can request an increase for? Please clarify as the next part is contradictory
"Unfortunately, due to their business rules, we cannot assist further should you be applying for an increase in any other type of credit facility as we do not participate in NAEDO."
I don't see a need for further investigation as you clearly state that no other credit facility will deal with a bank that is not affiliated with these systems. Thanks but this is not new to me, I thought discovery bank would do something about it, didn't think it would involve me running in circles.
Just so that I understand you correctly, you have a credit card limit at capitec that I can request an increase for? Please clarify as the next part is contradictory
"Unfortunately, due to their business rules, we cannot assist further should you be applying for an increase in any other type of credit facility as we do not participate in NAEDO."
I don't see a need for further investigation as you clearly state that no other credit facility will deal with a bank that is not affiliated with these systems. Thanks but this is not new to me, I thought discovery bank would do something about it, didn't think it would involve me running in circles.
BS
Brian S's update10 Jan 2020, 00:34
Reviewer Update
"Should you be applying for an increase of our credit card limit held with Capitec. please let us know and we will request for them to investigate further."
Just so that I understand you correctly, you have a credit card limit at capitec that I can request an increase for? Please clarify as the next part is contradictory
"Unfortunately, due to their business rules, we cannot assist further should you be applying for an increase in any other type of credit facility as we do not participate in NAEDO."
I don't see a need for further investigation as you clearly state that no other credit facility will deal with a bank that is not affiliated with these systems. Thanks but this is not new to me, I thought discovery bank would do something about it, didn't think it would involve me running in circles.
Just so that I understand you correctly, you have a credit card limit at capitec that I can request an increase for? Please clarify as the next part is contradictory
"Unfortunately, due to their business rules, we cannot assist further should you be applying for an increase in any other type of credit facility as we do not participate in NAEDO."
I don't see a need for further investigation as you clearly state that no other credit facility will deal with a bank that is not affiliated with these systems. Thanks but this is not new to me, I thought discovery bank would do something about it, didn't think it would involve me running in circles.