Unauthorised Policy

<p>This month we noticed that the Debit order for you vehicle repayment was considerably higher that usual or agreed upon. By considerably higher I mean in excess of R1400. . . When I enquired about this I was informed that Hollard issued a policy on our Vehicle financed through Standard Bank Asset Finance without consulting the owner of the vehicle. We were not consulted about this policy, not by any person at Hollard nor at Standard Bank Asset Finance . When I asked the branch employee how they can do that, she told me that the vehicle needs to be insured at all times and that the bank needs proof of such insurance. We were requested to provide such proof before we could drive off the shop floor with the vehicle, and NEVER again. . .</p> <p> </p> <p> My conclusion is that Standard Bank Asset Finance receives commision for every add on policy they 'sell'(add on to) to unsuspecting customers account. . . This, according to my limited knowledge, is straight in voilation of the Consumers Act, NO FIAS enquiry was completed with us, the so called policy owner, nor was any needs analysis done. We now need to contact Standard Bank Asset Finance, provide proof of insurance and we will probably have to beg for a refund knowing the modus operandi of our Financial Institutions.</p> <p> </p> <p> </p> <p>We noticed that our</p>