Blatant Breach of Contract

App**** for a loan on Thursday the 1st of November 2018 (1 week ago). I was informed by the consultant that the funds would take 48 hours to reflect. Funds have still not been paid into my account. This is a direct breach of contract. I have called the call centre on numerous occasions this week to follow up and was told that there was a system error where, and I quote, "other clients were paid out double and now we are loading the payments manually". First of all, surely you should have systems in place for this NOT to happen in the first place. Second of all, if this really is the case and you are aware that there is an issue with the time of payouts, you NEED to inform your customers BEFORE they tie themselves to a financial commitment such as a loan. I find this to be a breach of contract and moral obligation. You cannot promise a service such as "a loan paid out within minutes" (irrespective of the T's & C's) when you are unable to provide this service. The application portal should have been temporarily suspended while you sort the issue out. Now hundreds of people are stuck tied to your institution and will more than likely be required to pay their first instalment before they have even received their funds, without the option to apply at another institution because the credit check will indicate that a loan has just been taken out with your Company.

Not to mention that now when you call the call centre, your call number jumps from 1st in line back to 11th in line, which if I may add, is costing your customers even more money in airtime / call costs.

I would urgent appreciate feedback as to when I can expect my funds to be paid out as obviously alternative arrangements will need to be made should you be unable to fulfil your obligation further.