Theft of funds by Standard Bank on Motor Vehicle Finance

Vehicle purchased in March 2020 and financed with Standard Bank. Without asking / notifying me, they suddenly started adding an amount of R1065.87 to my instalment in August 2023. When I queried this, I was told by your Siyabonga Thusi that this was for insurance, and referred to ***.

They requested proof of insurance. Our insurance broker sent through documentation that the vehicle had been insured the entire time.

Since then, complete radio silence. Follow ups are being ignored, and the funds are not being returned.

I eventually ended up selling the vehicle in June 2024 as it seemed to be the only way to stop this unauthorised deduction (theft) of funds by your insurance arm.