1 reviews | Active since Sept 2013
Bad abd racial profiling of customers by Standard bank
I always watch Standard bank advert punchline “It Can Be" and admire it untill my recently experience and since then I am reading it differently "It Can Be if you white or Indian but not if you black"
I have been a client of Standard bank since 2008, I moved my house bond to the bank then , and in 2019 also moved my car finance account to them as well. This was due tonterrible treatment I got from FNB amd its car finance wing Wesbank (I bought 10 cars through them). I have been paying my car and bond repayments religiously without fail since then.
In August 2021, I decided to buy another car, a Mercedes, I approached Standard bank since my previous deal and my bond accounts are with them l, initially my deal was approved with prime plus I think 3% or so. When accepted the deal and i was about to sing the interest rate was changed to prime plus 5 or so, this happened despite that the deal was approved with all necessary information provided. The irony is that when i was taking delivery of the car and final contract done the installment changed again and increased.
I complaint to the finance lady at the dealership, she referred to a Pietermaritzburg Bank's manager ( Finance or deal manager) she was so rude and disrespecting, talking whilst i am talking and really talking down on me such that i requested to talk to the manager KZN Regional manager , he was no different so i ended up accepting a row deal since i had already sold my car.
I have bought my previous car in Pmb, though i stay in Pretoria, I support KZN economy and businesses but this ecperience made me wonder about KZN Standard bank . It is still the same since 1992 blacks are still given raw deals and high interest rates. In 1992 Wesbank chatged me 24% whilst my white counterpart (a colleague) was given 16.5% just because I was black and considered high risk. I experienced the same despite that it was a repeat deal and the bank is my biggest creditor in my books currently and I am payong my account religiously.
Shocking treatment from a bank that I have always respected. I was even thinking of moving my account to them but i can only imagine the bad treatment
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