gB
gerhard B
1 reviews | Active since Mar 2009
06 Feb 2025, 13:07
Exorbitant Finance Charges
I fully agree with Allison E regarding the many confusing charges Standard Bank has on their credit cards. How long will you pay a cash finance charge for? When is the cash portion paid in full? Should the cash finance charge not reduce with time? If you transferred cash when you got the card and then swipe from there the cash finance charge must reduce. Is this even legal? Let's find out...
Helpful (0)
Replies (3)0
Replies (3)
Standard Bank's replyOfficial
06 Feb 2025, 13:51Good day Gerhard,
Thank you for reach out to us.
Our credit card interest (cash finance charge) is charged on all cash related transactions namely ATM cash withdrawals, cash advances from branches, electronic account payments, inter account transfers, the purchase of travellers cheques, as well as petrol purchases, from each transaction date to the day before the respective debits are paid
Kindly be advised that all future cash transactions will incur daily interest, that will be charged when your statement closes.
This charge will appear on your statement every month until the total outstanding amount is paid as per your card limit.
We hope this clarifies your concerns.
Kindest regards,
Standard Bank Hello Peter Team
***
Thank you for reach out to us.
Our credit card interest (cash finance charge) is charged on all cash related transactions namely ATM cash withdrawals, cash advances from branches, electronic account payments, inter account transfers, the purchase of travellers cheques, as well as petrol purchases, from each transaction date to the day before the respective debits are paid
Kindly be advised that all future cash transactions will incur daily interest, that will be charged when your statement closes.
This charge will appear on your statement every month until the total outstanding amount is paid as per your card limit.
We hope this clarifies your concerns.
Kindest regards,
Standard Bank Hello Peter Team
***
Standard Bank's reply06 Feb 2025, 13:51
Official
Good day Gerhard,
Thank you for reach out to us.
Our credit card interest (cash finance charge) is charged on all cash related transactions namely ATM cash withdrawals, cash advances from branches, electronic account payments, inter account transfers, the purchase of travellers cheques, as well as petrol purchases, from each transaction date to the day before the respective debits are paid
Kindly be advised that all future cash transactions will incur daily interest, that will be charged when your statement closes.
This charge will appear on your statement every month until the total outstanding amount is paid as per your card limit.
We hope this clarifies your concerns.
Kindest regards,
Standard Bank Hello Peter Team
***
Thank you for reach out to us.
Our credit card interest (cash finance charge) is charged on all cash related transactions namely ATM cash withdrawals, cash advances from branches, electronic account payments, inter account transfers, the purchase of travellers cheques, as well as petrol purchases, from each transaction date to the day before the respective debits are paid
Kindly be advised that all future cash transactions will incur daily interest, that will be charged when your statement closes.
This charge will appear on your statement every month until the total outstanding amount is paid as per your card limit.
We hope this clarifies your concerns.
Kindest regards,
Standard Bank Hello Peter Team
***
gB
gerhard B's updateReviewer Update
17 Feb 2025, 08:07Good morning
No, this does not clarify anything. Why don’t you clearly indicate what the remaining cash portion is. I could then settle the cash portion first to stop paying these exorbitant fees. But Standard Bank won’t do that because we are cash ***s to you, not clients. I don’t know of any other bank that does this.
I simply cannot believe that this is legal but if it is, it certainly is not ethical.
No, this does not clarify anything. Why don’t you clearly indicate what the remaining cash portion is. I could then settle the cash portion first to stop paying these exorbitant fees. But Standard Bank won’t do that because we are cash ***s to you, not clients. I don’t know of any other bank that does this.
I simply cannot believe that this is legal but if it is, it certainly is not ethical.
gB
gerhard B's update17 Feb 2025, 08:07
Reviewer Update
Good morning
No, this does not clarify anything. Why don’t you clearly indicate what the remaining cash portion is. I could then settle the cash portion first to stop paying these exorbitant fees. But Standard Bank won’t do that because we are cash ***s to you, not clients. I don’t know of any other bank that does this.
I simply cannot believe that this is legal but if it is, it certainly is not ethical.
No, this does not clarify anything. Why don’t you clearly indicate what the remaining cash portion is. I could then settle the cash portion first to stop paying these exorbitant fees. But Standard Bank won’t do that because we are cash ***s to you, not clients. I don’t know of any other bank that does this.
I simply cannot believe that this is legal but if it is, it certainly is not ethical.
Standard Bank's replyOfficial
17 Feb 2025, 10:17Good day Gerhard
The matter is being treated as a priority and our team is ensuring that it is resolved timeously .
We will revert with feedback as soon as possible .
We appreciate your patience.
Kindest regards
Standard Bank Hello Peter Team
***
The matter is being treated as a priority and our team is ensuring that it is resolved timeously .
We will revert with feedback as soon as possible .
We appreciate your patience.
Kindest regards
Standard Bank Hello Peter Team
***
Standard Bank's reply17 Feb 2025, 10:17
Official
Good day Gerhard
The matter is being treated as a priority and our team is ensuring that it is resolved timeously .
We will revert with feedback as soon as possible .
We appreciate your patience.
Kindest regards
Standard Bank Hello Peter Team
***
The matter is being treated as a priority and our team is ensuring that it is resolved timeously .
We will revert with feedback as soon as possible .
We appreciate your patience.
Kindest regards
Standard Bank Hello Peter Team
***