BD
Bongani D

1 reviews | Active since Sept 2013

01 Sept 2021, 23:49

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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Replies (2)
Standard Bank
Standard Bank's reply02 Sept 2021, 03:22
Official
Hello Bongani Dlamini
  
Thank you for posting your comment. 
 
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. 
 
We apologize for the inconvenience and undue frustration, this has caused.  
 
We greatly appreciate your continued support.  
 
Kind regards

Complaint Resolution Centre
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*** (fax)
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BD
Bongani D's update02 Sept 2021, 08:21
Reviewer Update
Unbelievable response, they apologize and life goes on. So much for the bank "It Can be" . This is a true response that Apartheid government made to Africans "We apologize for any inconvenience caused" , no indication that the bank will investigate and fix the problem. For them it is notmal business, it is just that I complained that they apologize otherwise it is business as usual. All banks are the same i suppose