TM
Teacher M

1 reviews | Active since Aug 2015

02 Nov 2015, 14:25

MINIMUM OF 5 ITC TRACES

STANDARD BANK ***: I've been banking with this bank for more than 15 years and my second home loan application was a nightmare. They did at least 5 ITC traces on my name, which Deteriorated my credit score, then rejected my application on mitigated risk reason, and Jacobus Phaal said they don't care if I close my account and go to another bank because they will not fund it. They also approved a refinance without my authorization and sent it Coetzee attorneys, who informed me about it. However, I have started a property company and my business account is with standard bank as well. I received feedback from other banks, they said my credit score is bad and rejected my application, thanks to standard bank. They said the area is over exposed but an acquaintance stated that he recently approved on the new development in that area. I've been trying very hard to succeed as an entrepreneur, but my bank is making it impossible. The message was LOUD & CLEAR, I will pack my bags and look for a bank that will cater for my entrepreneurial needs.

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Replies (1)
Standard Bank
Standard Bank's reply04 Nov 2015, 08:11
Official
Hello teachm01,

Feedback was given to the client on 21/10/2015. Complaint closed on 21/10/2015 as the Bank is unable to grant the loan.

Thank you for allowing us an opportunity to address your complaint.

We value your feedback and continuous support.

Kind regards

Cobus Phaal