THINK TWICE BEFORE YOU TAKE OUT A STANDARD BANK LOAN

THINK TWICE BEFORE YOU TAKE OUT A STANDARD BANK LOAN. I am taking to HelloPeter with my complaint as I could not resolve this with Standard Bank after months of negotiations.

This is my story: I took out a Standard Bank Loan in 2012 to the value of R75 000 and a further R75 000 in 2014. Last year it came to my attention that there is still R131 000 outstanding after paying 62 months on this loan. So why did I not notice the discrepancies before? When I took out the loan(s) and asked for Statements, I was informed by the Standard Bank Consultant (Woodmead) that Standard Bank does not provide Statements. So you go forth and believe all is fine and you think you can trust them with your business. Then the huge surprise.... I have at last received my statements for the full period of my loan and have picked up discrepancies for 33 months already - this list will be posted here before I get to the results of the complaint:

1) Duplicate interest charges on my Loan - for 33 periods I was charged interest more than once per month:

25 July 2012 – 2x 25 August 2012 – 3x 25 October 2013 – 2x 25 November 2013 – 3x 25 January 2014 – 2x 25 Feb 2014 – 8x 25 March 2014 – 2x 25 April 2014 – 2x 25 May 2014 – 2x 25 June 2014 – 2x 25 July 2014 – 3x 25 August 2014 – 4x 25 Sept 2014 – 2x 25 October 2014 – 2x 25 Nov 2014 – 2x 24 Dec 2014 – 2x 26 Jan 2015 – 2x 25 Feb 2015 – 2x 25 Mar 2015 – 2x 25 April 2015 – 2x 25 June 2015 – 2x 25 July 2015 – 2x 25 Aug 2015 – 6x 25 Sept 2015 – 2x 26 Oct 2015 – 2x 25 Nov 2015 – 3x 24 Dec 2015 – 2x 1 Jan 2016 – 2x 25 Feb 2016 – 8x 26 Mar 2016 – 4x 25 Apr 2016 – 4x 25 May 2016 – 2x 25 May 2016 – 2x 25 Jul 2016 -2x 25 Aug 2016 – 2x 25 Aug 2017 – 2x

2. Credit facility fees Instead of the usual monthly fee of R111 -I was charged up to R600 per month on various occasions

3. En-cashment queried My statements reflect an en-cashment of R12 000 dated 7 October 2013 – which was debited on my account but I never received this moneys.

4) Service fees - I paid for services not received e.g. statements and I queried this.

When I took note of these "**********" transactions on my Standard Bank Loan, I stopped making payments and started official investigations by officials of Standard Bank.

I am now taking to social media to expose Standard Bank as all my official complaints lead to NOTHING and they are expecting me to pay further into this deep bottomless ********** PIT. In fact they have passed on my account to their Legal division and they HAVE NOT COMMUNICATED THE OUTCOME OF MY OFFICIAL COMPLAINT TO ME IN AN OFFICIAL WAY AT ALL.

This is the story of a client who has been **** to by an official of Standard Bank - "we do not provide statements" and contrary to that the Bank charged me for a service not rendered: service fees were debited every single month that I did not get my statements.

There is clear evidence of over-charges on the Loan Account at least on 33 occasions but the Bank refuses to admit fault - the explanation was that interest rates fluctuated - I would like the CEO of Standard Bank to explain to the Public how their Interest Rate fluctuate 2x, 3x, 4x, 6x and up to 8x per month - is this a Bank we can't trust?????

Even though it was resolved that I was over-charged on the Insurance Cover amounts on my loan, I received no formal communication or explanation or apology from the Bank or even evidence of a Refund of moneys S T O L E N F R O M ME

I have queried an amount of R12 000 which I supposedly en-cashed on my loan but which never came into my account - HOW CAN STANDARD BANK NOT HAVE RECORD OF THE CREDIT ACCOUNT (DETAILS) IN THIS TRANSACTION - I have stated again and again that the moneys was not received by me (no record existed) but Standard Bank asked me to provide proof that I did not receive it: HOW CAN I PROVIDE PROOF OF SOMETHING THAT I DO NOT HAVE OR NEVER RECEIVED? Standard Bank you are clearly in D E N I A L.

I am totally disgusted that Standard Bank closed this matter when it was clearly not resolved, did not inform me officially nor refunded me for inconsistent debits nor inform me of anything - a telephone conversation during which I still argued about these matters with a Consultant I S N O T A C O N C L U S I O N of a complaint Standard Bank - it is a HEAD IN THE SAND APPROACH AND a ***ardly denial of your liabilities here.

So let's move forward on this. Please let your legal dept take me to court - I have all my statements which clearly reflect ALL THE INCONSISTENCIES and possible ***** - well let's call it ***** if you ***** from me and would love to present it to a Magistrate - please send me the Court Date and details and I will be there!

Today I have again asked the Ombudsman to investigate this matter.

I will now refer it to the National Consumer Commission as well and lastly open a docket with the SA Police ***** squad.

Standard Bank: please don't ask me to pay towards a ********** loan before you have R E S O L V E D my queries P R O P E R L Y and O F F I C I A L L Y record the solution and refund me of M O N E Y S S T O L E N F R O M ME . AND LASTLY PLEASE DO NOT PUT YOUR LEGAL DEPARTMENT OF ME whilst your house is clearly in need of clean-up.

Why can't you admit you were wrong and MAKE IT RIGHT?