JC
Jaqueline C

1 reviews | Active since May 2015

02 Oct 2020, 10:22

Nothing but empty promises and lies

We took out a student loan in 2015, started paying it back in 2017 we were told it would be a set monthly amount over approximately 35 months (based on interest rate changes). During the time we have been paying we have never received any statements or even a balance. When the 35th payment was approaching I started trying to get a balance but it was practically impossible to get any information regarding this loan and was sent from pillar to post. The 35th payment went off and then a 36th payment also went off. Eventually after logging a HelloPeter complaint I was then contacted by Standard bank saying they will look into it, but it still took them a month and a further number of calls and emails from my side to eventual get some feedback and statements saying there was still an outstanding balance of another 2 or 3 payments. Which does not make sense except that they outright **** to us from the start saying 35 months as according to the statements the interest rate never went up but did in fact go down several times, which if their statement of approximately 35 months was true it would have been less than 35 months. At the end of last month after the payment was deducted I asked for a final balance as according to the statement only one more debit was due for end September and to confirm if the debit at the end of September would in fact be the final payment and was told they would get back to me. Once again no feedback even after several emails asking for this information as I wanted to close the account as soon as the final debit was paid but now they seem to be stringing me along again in order for the outstanding balance to gather more interest as this apparently is calculated on a daily basis. According to my experience with them they are just a bunch of ***** and will squeeze every sent out of their customers that they can.

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Replies (2)
Standard Bank
Standard Bank's reply02 Oct 2020, 15:52
Official
Hello Jaqueline

Thank you for posting your comments. 
Your matter was escalated accordingly. We will revert to you as soon as possible. 
Kind regards 
Complaint Resolution Centre 
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JC
Jaqueline C's update08 Oct 2020, 11:13
Reviewer Update
No further feedback or response received from Standard Bank besides their automated response to my review saying they will get back to me. Just more lies and empty promises