Disappointing service, filled with inconsistent information

I am shocked and disappointed in the service I have received from Wesbank. Back in October, I app**** for Private Financing. This was approved upon providing all relevant documentation and the matter was transferred to the seller team. I ran into an issue with the seller as they had not changed the ownership of the vehicle. I then called Wesbank who informed me that my application would remain active for 3-6 months and I should just let them know should I find alternative car.

I went to a dealership in beginning of December, found a car and submitted an OTP and the story changed to, “employment verification was done completed more than 30 days ago so you would need to re-apply”. I ignored the fact that this information differs to the one first provided and I went ahead and app**** again. I was given a reference number and was promised that someone will get back to me. NO ONE DID.

I eventually had to call and when I got through, I was told by a consultant that the application was declined as FNB marked me as a credit risk. Was informed to call FNB and get the flag rectified. I called FNB Risk who advised that there is no flag or credit risk noted on my profile apart from the fact that my November income dropped due to a change in my salary date. I was informed by FNB Risk that they will leave a note that Wesbank can see regarding this.

I then called Wesbank back and advised them of my call with FNB. To no surprise, the story now changes to “The application was declined due to the information received from the credit bureau as there could be a listing”. Not only this, I was then informed that they do not know how WesBank Private Finance proceeded with my application as this application was also declined for the same reason. So basically I was pre-approved, vetted, documentation verified, income verified, provided with and signed a final approval for a DECLINED APPLICATION. This makes absolutely no sense.

I’m addition, I am sitting with an Experian report that shows no unpaid or default accounts in the last 5 years. All my accounts are also up to date with no missed payments in the last 5 years. It cannot be that suddenly, after providing me with final approval, my credit profile is an issue when I know for a fact that IT IS NOT.

No official communication has been sent to me regarding this whole process and no one cares enough to clarify the anomalies and inconsistency in information and process. I am completely disappointed in First Rand as I wanted to keep my business within the group as I have been banking with FNB for years but this year has just been marred with one terrible experience after another and this experience with Wesbank is no different. I request urgent assistance and written confirmation about the reasons for non-approval after a final quote was sent!