JJ
Julie J

1 reviews | Active since Feb 2015

11 Jan 2019, 17:39

Standard Bank Student Loan Declined

I recently app**** for a student loan with Standard Bank for my son who's on his second year of study. The application was made online because I was told by an employee from their main branch that I cannot make the application within the branch as I had to do it online. Once the application was made I needed to send the reference to her so she can check on the application. After much difficulty of trying for 1 whole week to make the application I finally managed to complete the necessary documentation online. Only to discover immediately after the process was complete that a message appeared on the screen to indicate that the application was declined due to their credit criteria not being met. It also provided a link to ********** it further mentions that they will contact me within 48 hrs. I forwarded the reference number and the status of my application being decline to the above as well as the lady at the main branch requesting that they provide me with feedback on my declined application. To date I have not received any response from standard bank and the lady from the bank said she sent them emails but she too hasn't received any response. It is absolutely disturbing to note that a bank you trust for many years with your money is unable to trust you in securing financial assistance in a time of need. It must also be noted that I hold a bond and 2 vehicle finances with Standard Bank. To date I've freed 1 vehicle and I've honoured every payment religiously. Surely I would honour the payment of of my son's student loan as the money will be deducted from my account. I'm seriously considering moving my business with Standard Bank to another bank that will appreciate their loyal customers and provide assistance when the need arises. It's disappointing when other banks are willing to offer their services whilst your own bank is committed to it's own interests and not it's clients.

0
Replies (4)
Standard Bank
Standard Bank's reply12 Jan 2019, 04:23
Official
 
Thank you for posting your comments. 
 
Your matter was escalated accordingly.  We will revert to you as soon as possible. 
 
Kind regards 
 
Clint Chetty 
Complaint Resolution Centre
 ***
 *** (fax)
 *** 
Standard Bank
Standard Bank's reply16 Jan 2019, 13:40
Official
Dear  Julie 

Thank you once again for posting your comments.

I refer to our email correspondence with each other and can confirm that the matter has been reviewed.

Kind regards

Clint Petersen
Complaint Resolution Centre
***
JJ
Julie J's update16 Jan 2019, 15:15
Reviewer Update
Thank you sincerely Mr Clint Petersen for your time and effort in trying to resolve this matter. However, the issue at hand is still pending until further notice from the arbitration process. I sincerely hope that from here on there is a way forward and that a solution could be found.
JJ
Julie J's update22 Jan 2019, 14:40
Reviewer Update
To date the above matter is still unresolved. It's absolutely frustrating and disappointing that not one person within Standard Bank is willing to assist in resolving this matter. All they do is string you on. I've made it perfectly clear that the registration period will end soon but I'm still left in mid air to figure out a solution. What's the point of having a Resolution centre that can't provide an efficient service to it's customers. Very disappointing service Standard Bank, you have once again shown me that you don't value your customers. In my opinion a letter of disappointment needs to be forwarded to the CEO.