Multiple interest charges

Hellopeter

Last time i complained that standardbank was charging multiple interests on my account in order to maximise what they from me. I also said i was suspecting that they are capitalising interest several times a month that is why there were multiple interest charges on my bank statement of revolving credit account.

I have found that all my suspicions were totally wrong. Standardbank is charging me interest according to the contract i signed with them. The interest charges are capitalised once a month on the 25th. I have been able to calculate interest charges for the period 25/04 - 25/05 and compared it to what is on my bank statement and found that our calculations agree 100%. I also like the way they consider the change of outstanding balance and of interest rates in their calculations.

I am now withdrawing all the negatives i said about standardbank.

Thank you.

Raphael