1 reviews | Active since Aug 2021
My Experience with Standard Bank
I would like to share my recent experience with Standard Bank, an experience that has left me extremely disappointed. I have been a loyal customer of Standard Bank for more than 10 years, but what I went through during my recent vehicle finance application has been unacceptable.
In November this year, I app**** for vehicle finance through Standard Bank for a private sale. I submitted all the required documents, including the settlement quote, and my application was approved. I proceeded to sign the contract. I was informed that because it was a private sale, the final processes would be handled by Wingfield, a company Standard Bank works with for such transactions.
Wingfield contacted me and provided a checklist of documents, including a settlement quote, which I submitted. The expiry date of the settlement quote was clearly indicated. After submitting all required documents and signing everything, I was later informed by Wingfield that Standard Bank had already made a payment to them. I was then instructed to request a new settlement quote so that they could pay for the vehicle.
To my surprise, I was later told that the settlement amount had changed and that there was now a shortfall, one that I was expected to pay out of my own pocket. This was shocking and deeply unfair. I had provided all documents on time. The delay and failure to request a new settlement quote before processing payments were entirely due to Standard Bank and Wingfield, not me.
Despite this, I was instructed to pay the shortfall. I had no funds available and had to borrow money to cover this expense. This situation was stressful, financially unfair, and completely avoidable had the process been handled correctly on their side.
As a long-standing customer, I expected better. This experience has left me deeply dissatisfied with the service I received from Standard Bank and its partner, Wingfield. I am sharing this review on Hello Peter so that others are aware of the challenges I faced and so that Standard Bank can take accountability and improve its processes.
Thank you for bringing this issue to our attention.
As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of.
We sincerely apologies for any inconvenience or unwarranted frustration this has given you.
Kindest Regards
Standard Bank Hello Peter Team
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Thank you for bringing this issue to our attention.
As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of.
We sincerely apologies for any inconvenience or unwarranted frustration this has given you.
Kindest Regards
Standard Bank Hello Peter Team
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Your request has been escalated to the Head of our Vehicle Finance desk.
You will receive a call before the close of business today..
Please feel free to contact the bank should you require any further assistance.
Thank you for banking with Standard Bank
Kindest Regards
Standard Bank Hello Peter Team
***
Your request has been escalated to the Head of our Vehicle Finance desk.
You will receive a call before the close of business today..
Please feel free to contact the bank should you require any further assistance.
Thank you for banking with Standard Bank
Kindest Regards
Standard Bank Hello Peter Team
***
Thank you for your email and for advising me that the matter has been investigated and that the case is now considered closed. However, I would like to place on record that I was never informed that the original settlement quote had expired, nor was I given an opportunity to submit a new application based on the updated settlement amount. The statement that I was made aware of these changes and presented with two options is not accurate. If Standard Bank has any proof such as call recordings, written communication, or any documented evidence showing that I was informed of the quote’s expiry and that I declined the option to submit a new application, I kindly request that this be provided to me. I appreciate your assistance and look forward to receiving the relevant proof to clarify this matter.
Thank you for your email and for advising me that the matter has been investigated and that the case is now considered closed. However, I would like to place on record that I was never informed that the original settlement quote had expired, nor was I given an opportunity to submit a new application based on the updated settlement amount. The statement that I was made aware of these changes and presented with two options is not accurate. If Standard Bank has any proof such as call recordings, written communication, or any documented evidence showing that I was informed of the quote’s expiry and that I declined the option to submit a new application, I kindly request that this be provided to me. I appreciate your assistance and look forward to receiving the relevant proof to clarify this matter.