LF
Luis F

1 reviews | Active since Dec 2016

06 Dec 2016, 18:07

Worst Bank ever

<p>I have been banking with Standard bank since I was 18, always paid my accounts , paid off my credit card without batting an eye.</p> <p>Unfortunately due to unforseen circumstances I had to use quite a big amount on my credit card, which I knew I would have to pay off no problem.</p> <p>As I started paying off the large amount I noticed on my statement I get charged a finance charge (due to interest) which I understand, but on top of that I too get charged a cash finance charge which I thought was weird.</p> <p>I phoned standard bank and was helped by Jabulani who told me that the cash finance charge is for anytime there is a cash transfer of money. I didn't understand this as I have been charged this from the beginning and I didn't withdraw physical cash but transfer between accounts. He then proceeded to tell me that I will get charged that cash finance charge either way whether money is going into my credit card or out. This practically means that when I pay money into my credit card to actually try pay it off they charge me...honestly it's pathetic.</p> <p>I phoned both Absa and FNB and they do not charge this fee...can't wait to move to a better bank!</p>

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Replies (2)
Standard Bank
Standard Bank's reply07 Dec 2016, 09:34
Official

Good day Luis Ferreira

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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Standard Bank
Standard Bank's reply08 Dec 2016, 13:47
Official

Dear Luis Ferreira

Thank you once again for your posting.

I refer to my email correspondence and can confirm that the matter has been addressed.

Kind regards

Clint Petersen

Complaint Resolution Centre

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