MG
Mark G

1 reviews | Active since May 2022

26 May 2022, 09:20

Standardbank exorbitant rate charges for small business with overdraft

If your small business look at what they charge overdraft facility rates Now mine is 18.5perc

We have conducted business with them since 2015

Used there facility and twice they have charged is double the repo rate.

I have asked accountvDhawne Pringle to reduce rate charged as asset is 30times the value of loan facility.

Apparently I dont conform, however have a large loan on 15years prime less 2 at 20times loan value with assets 200 time s loan value.

I am forced to find another bank that offers better rates.

0
Replies (1)
Standard Bank
Standard Bank's reply27 May 2022, 07:42
Official
Hi Mark

 
Thank you for bringing your concerns to our attention. 

Your concerns have been escalated to our management team. 

We appreciate your support and loyalty.  

Standard Bank Help Centre
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