1 reviews | Active since Feb 2018
Poor vehicle financing options as a Private Wealth Client
I app**** for vehicle finance through VW financial services for a second-hand vehicle at a purchase price of R385 000. After the application to the various Banking institutions, Wesbank, a division of FNB, was however not placed first to return the most favourable financing option. The rates received were not competitive or even matched to the other Banking institutions. As a loyal FNB client, my banking portfolio is extensive, ranging from Private Wealth cheque and credit accounts, home loans, revolving credit loans, investments etc. I currently possess vehicle finance with Wesbank at favourable rate of +0.75% above prime, at a fixed rate, however, I am disappointed with the service returned from Wesbank and I am doubtful regarding my future with FNB as Private Wealth Client as I prefer to keep my banking portfolio with a single Banking institution. After approaching my Private Banker with regards to applying for vehicle finance independently, it was not disclosed, that only a single application can be submitted to Wesbank for vehicle finance either it be VW financial services or myself. After receiving a non-favourable financing option through Wesbank, I feel as loyal FNB client, I was ****** of my loyalty benefits being a Private Wealth Client for many years.
The issue may be resolved by offering me a similar rate to my current vehicle finance. I would appreciate the sentiment such that I keep banking with FNB as Private Wealth Client, as I have been a satisfied client throughout my professional career.
Hello Kistan ,
Thank you for bringing this to our attention.
We truly regret taking note of your experience and the frustration this has caused.
A complaint has been routed to the relevant department and I have requested that they provide you with feedback.
I do apologise for any inconvenience caused.
***
Regards,
Client Experience Team
Email address: ***
Tel number: ***
Hello Kistan ,
Thank you for bringing this to our attention.
We truly regret taking note of your experience and the frustration this has caused.
A complaint has been routed to the relevant department and I have requested that they provide you with feedback.
I do apologise for any inconvenience caused.
***
Regards,
Client Experience Team
Email address: ***
Tel number: ***
