HG
Hlobisile G
1 reviews | Active since Nov 2024
07 Dec 2024, 08:24
I'm extremely disappointed with Floats and would not recommend their services to anyone. On November 10th, 2024, I purchased a Samsung A05S cellphone totaling R2999.98. According to Floats, they would deduct only the installment amount of R499.98. Howeve
I'm extremely disappointed with Floats and would not recommend their services to anyone.
On November 10th, 2024, I purchased a Samsung A05S cellphone totaling R2999.98. According to Floats, they would deduct only the installment amount of R499.98. However, they deducted the full amount of R2999.98.
When I inquired about this, they claimed they reserved the amount until the purchase was fully paid off. However, on December 7th, 2024, they deducted another R2499.16 from my account without my authorization.
I'm extremely disappointed with Floats and would not recommend their services to anyone.
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Replies (2)0
Replies (2)
Float's replyOfficial
09 Dec 2024, 09:21Hi Hlobisile,
Thank you for bringing this to our attention, and we sincerely apologize for any frustration or confusion caused.
Float splits your purchase into easy-to-manage, bite-size monthly instalments (as opposed to charging you the full amount up-front like a regular credit card transaction). To clarify, Float works by reserving the full purchase amount on your credit card at the time of purchase to ensure the availability of funds for your installment plan. However, only the first interest-free installment is charged upfront. As each monthly installment is paid, the reserved amount reduces to reflect the remaining balance until the purchase is fully paid off.
Please note, the reserve is not a charge but a pre-authorization that remains interest-free. It is renewed between installment dates, and you’ll receive reminders 7 days in advance of each renewal. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We apologize for the experience you’ve had and appreciate your feedback as it helps us improve. If you have any further concerns, please feel free to contact us on ***.
Regards,
The Float Team
The Float Team
Float's reply09 Dec 2024, 09:21
Official
Hi Hlobisile,
Thank you for bringing this to our attention, and we sincerely apologize for any frustration or confusion caused.
Float splits your purchase into easy-to-manage, bite-size monthly instalments (as opposed to charging you the full amount up-front like a regular credit card transaction). To clarify, Float works by reserving the full purchase amount on your credit card at the time of purchase to ensure the availability of funds for your installment plan. However, only the first interest-free installment is charged upfront. As each monthly installment is paid, the reserved amount reduces to reflect the remaining balance until the purchase is fully paid off.
Please note, the reserve is not a charge but a pre-authorization that remains interest-free. It is renewed between installment dates, and you’ll receive reminders 7 days in advance of each renewal. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We apologize for the experience you’ve had and appreciate your feedback as it helps us improve. If you have any further concerns, please feel free to contact us on ***.
Regards,
The Float Team
The Float Team
HG
Hlobisile G's updateReviewer Update
17 Dec 2024, 05:54I still have not received neither the reserve nor the refund. It's Christmas time and I have to use my money. I was told on the email that it will take up to 5 days to reflect. I really need the money before Friday this week.
HG
Hlobisile G's update17 Dec 2024, 05:54
Reviewer Update
I still have not received neither the reserve nor the refund. It's Christmas time and I have to use my money. I was told on the email that it will take up to 5 days to reflect. I really need the money before Friday this week.