Disappointing Service and Unfulfilled Promises

I’ve been a loyal customer of Standard Bank since 2011 and upgraded to Private Banking in 2022 with the expectation of receiving exceptional service and competitive rates. I was promised a prime minus up to 1% rate for financing car and property purchases. However, my experience has been nothing short of frustrating.

Since the beginning of the year, I’ve been trying to get financing for a car, and my banker has been working tirelessly to secure the loan for me. Despite all the effort, Standard Bank has continuously denied my applications, citing various reasons, only for the reasons to change when I go back to fix the issues they’ve pointed out. This back-and-forth has been happening for months now, with no resolution in sight.

To make matters worse, when I app**** through a dealership, I was able to secure financing with Standard Bank at a higher rate than what I was initially promised by Standard Bank. This is not only disappointing but feels like a betrayal of the trust I placed in the bank. I am not alone in this experience, several of my friends have left the bank for the same reasons, as they, too, were let down by Standard Bank’s unfulfilled promises.

As a young professional, I feel like Standard Bank makes enticing offers to gain new clients but fails to deliver when it’s time to follow through. I’ve faced immense frustration in trying to resolve this issue and would appreciate it if Standard Bank took my situation seriously and honored the financing rate that was promised to me.

At this point, I am considering taking my business elsewhere if the situation isn’t resolved promptly.