************ BUSINESS PRACTICE

TO WHOM IT MAY CONCERN

I am livid with MFC. On or around June 2020, I entered into vehicle purchase agreement with them. It was an express term of the agreement that, MFC will deduct their premiums on 25 of each month( where the 25 falls on a Sunday or Pyblic holiday, the deductions will be done on the next following business day).

Now, MFC has in the recent months sent an sms advising that they will deduct the premiums on the 20 to align it with my salary, I have advised them that they can't do that since our agreement is for the deductions to be made on 25 of each month.

I have called MFC Customer Care twice in November instructing them not to take their monthly premiums on 20 November and 20 December and was given the assurance that the deductions would not happen on the 20 December.

To my surprise and notwithstanding that I gave them specific instructions not to deduct on 20 December, MFC deducted the premiums on the 20 December.

I wrote to them demanding that they reverse that transaction and all I got was a simple apologies and a statemenr that they cant reverse the transaction since the payment was already in the pipeline.

I find this practice by NEDBANK( MFC) of accessing our bank accounts prior to the agreed to dates as very disturbing and ********. They cannot as and when it suites them, and more importantly, against clear instructions from their clients, access and even make unauthorised deductions.

What is more disturbing about this is that I have other creditors who deduct their premiums as agreed, but MFC thinks that they are a law unto themselves and do as they wish notwithstanding the terms of the signed agreements.

I need someone who has experienced the same to please come forward so that we can challenge MFC on this matter.

As soon as my lawyer'offices opens up, I am consulting them to weigh my options.

Livid MFC client