ZK
Zamaswazi K

1 reviews | Active since Jan 2017

27 Jan 2017, 20:01

Student loan surety debit orders

<p>Good day</p> <p>I am so disappointed in the way Standard Bank conducts their business. I have a student loan with them that has created so much conflict in my life, it's very stressful. I changed my surety for my student loan from my aunt to my mom and they started deducting from my mom's account. Fast forward two years down the line, they go back and deduct from my aunt's account without telling us. It's not the normal interest rate agreed upon. It is a very large amount of money. My aunt, mom and I have gone to Standard Bank to try and reverse the money to my aunt's account but it's not possible because they said the account has been handed over to lawyers. We then asked who my surety is and they said my mom but they went into someone else's account and took their money. They then told us that it will not be possible to reverse the transactions they made. I was advised to lay a complaint because even the people who work there were perplexed as to how something like this could happen. So, I complained and that didn't help either because they called me during school hours and I gave them an alternative number (my mom's) and they didn't call her. The person who was supposed to get back to me sent an email saying they couldn't reach me. I sent them the email with my mother's number and they didn't respond. </p> <p>Now I have to make another loan to pay my aunt the money that Standard Bank took without informing her or myself that they would change sureties back to her. Meanwhile, I have to pay this greedy company as well. I haven't even finished my degree and I already have tones of debts. </p> <p>Thanks for nothing, Standard Bank. I really regret taking a student loan with Standard Bank and their ***** ways of doing things. </p> <p> </p>

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Replies (1)
Standard Bank
Standard Bank's reply30 Jan 2017, 13:24
Official

Good day Zamaswazi Kubheka

Thank you for your posting and allowing us an opportunity to investigate your complaint.

This matter was allocated to a resolution specialist who will contact you to resolve your complaint.

Kind regards

Complaint Resolution Centre

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