Standard Bank VAF failing their up to date Clients

"Without Prejudice nor Judical Consequences"

Dear Standard Bank and Standard Bank Vehicle and Asset Finance,

As a loyal and long standing Business and Private Banking Client of Standard Bank, I would like to express my dissapointment in Standard Bank, and the VAF Department of Standard Bank that failed us when we needed your assistance most during tge COVID19 Pandemic.

As a result, I will now turn to the Ombudsman and social media such as Hello Peter so clients and potential clients can see who and what Standard Bank really are, how little you really care about clients in times of need, clients need to be made aware that Standard Bank, especially VAF does not care wether your accounts are up to date or not, they look for excuses not to assist loyal and long standing clients. I will also inform the highest authority possible within Standard Bank and advise them how pathetic the service of this institution is and how they do not care or actually give a damn about their long standing and loyal clients.

We are not essential service providers, therefore our business can not continue as usual due to this pandemic, we have a permit and we can only assist with emergency repairs if needed, we will not generate nearly enough revenue to service our VAF account, our VAF account is currently up to date and in good standing, we are not in arears, we even brought my Business Partner's personal VAF account that has nothing to do with our application up to date to show good faith as his mobile number changed and he was not aware of the arrears on his personal account, VAF deliberatelly wasted alot of time to avoid giving us this payment holiday by looking for excuses and used delay tactics every week, VAF used excuses like an arrears ABSA Credit Card not to give a payment holiday, I then contacted ABSA only for them to inform me that my Credit Card is paid up to date and not in arrears, then Standard Bank said it was not updated with ITC, what the hell does my personal up to date ABSA Credit Card have to do with our up to date VAF Account or the Payment Holiday Application? It feels as if they pretend that they wanted to assist, to assist us was not their intention from the beginning.

Now they will sit like "vultures" to take any money that might be paid to our account with their "naedo debit method" that replaced the common law "set off method" they used previously, this is their way of still taking any money without your permission or concent, by doing this they will take any money that we could have used to assist our employees to feed their families during this difficult times, Standard Bank simply dont care, for the record we never agreed to their Naedo Debit Order method, they simply just implimented it without our concent, how *********. No wonder they had to close down around 90 branches, well done Standard Bank, you are loosing more and more clients, keep up with your ways, there are plenty otger banks who will take good care of your "ex-clients"

For months our business is going through some tough times, yet we manage to service all our debt every month to stay up to date, after all this frustration VAF turns around and uses the utmost pathetic and desperate excuse to say that our application is declined because of the conduct of the account from the past three months.!? We have paid our vehicles every month, they are all paid up to date and on time, please check again...so your excuse does not make sense at all.

Your reason does not make any business nor financial sense, as mentioned above, our vehicles are up do date and not in arrears, as a result of this decission we WILL now fall behind as we had no income for the month of April and will not be able to service our VAF account, this is the main reason we app**** for a VAF Payment Holiday.

Nor us or VAF will benifit from the decission VAF made, it does not make financially sense, they would rather see and accept that an up to date account will now become an arrear account just not to assist, Standard Bank VAF is aware that we will not be able to service our VAF account. This could have been avoided if VAF assisted us with a payment holiday during this COVID19 pandemic, instead they show their true colours and rather throw an up to date account under the bus to become an account that would now fall in arrears, it does not make sense, how was this concluded?

Again, we will not be able to service our VAF account due to no income, VAF is aware of this, they were also informed of this by our Relationship Manager, Priscilla Naidu, should this become a legal matter later we will then present this to our Attorney that Standard Bank VAF had an oppertunity to assist us with a payment holiday as our VAF account was up to date at the time of the application and even upon rejection to assist us, even whilst in good standing and VAF failed and declined to do so, even when they were fully aware that the account was up to date and will now become an arrear account.

Note that we are loyal and long standing clients of Standard Bank, we hold two Business Accounts, three Bonds, four Vehicles, Credit Cards, Personal Accounts, one being Private Banking and urged our staff to also switch to Standard Bank, which most did, we paid up numerous vehicles with VAF over the years and financed all our vehicles through VAF in good faith and in support of Standard Bank, and this is the support we get from Standard Bank, and Standard Bank would rather see their up to date and loyal, long good standing clients fall in arrears and contribute to make their cureent situation at a time like this worse where they could have prevented this by assisting us whilst our VAF account was up to date.

As a result of the poor and dissapointing service we received we complete our projects upon Level 2, we will settle all our debt if possible and we will consider to close all our accounts with Standard Bank and move to another institution that actually cares for their clients, a bank that would understand their clients needs, one that won't try and look for pathetic excuses just not to deliberatelly assist their loyal and up to date clients.

Regards, with great dissapointment.

Martin