1 reviews | Active since Aug 2014
Double standards and no assistance
I app**** online for vehicle finance through Fnb and completed all details required including the vehicle details and it was approved! After receiving pathetic service and attitude from Andile at wesbank in terms of someone getting back to me I was passed on to Petnunia Xhego who had a look at my case. At first I was told my affordability was an issue, which It wasn't, then that vehicle is a problem because it doesn't match the book value, and lastly because my credit score is not high enough.<br> When it comes to book value of the vehicle I did my own checks as well and the vehicle falls into the value according to transunion books and is currently financed with Wesbank by the current owner. <br> When it comes to my credit scoring FNB are saying that my device that I have with FNB doesn't qualify to help with my scoring however if I default on payment it affects me negatively.<br> It annoys me that Wesbank can tell me the vehicle is over priced yet they financed it 6 months ago at a higher price and lower deposit. <br> Secondly when my device was taken FNB had to do a credit check, but don't want to use that the help my scoring where I'm paying every month on time without fail.<br> Is that fair????? <div><br></div><div><em>(Supplier name changed from First National Bank to Wesbank by Hellopeter.com)</em></div>
Thank you for bringing this matter to our attention and affording us the opportunity to provide you with comprehensive feedback.
A consumer is required to maintain a certain level/ type of exposure and management in order to build up their credit score for reference purposes to enable any potential financier to arrive at an informed decision in accordance with the National Credit Act (NCA) in terms of intermediate credit lending. The FNB device to which you refer is a CPA product and as therefore not governed by NCA statutes which are considered in the development of a credit score.
The Bank also takes into account a myriad of contextual factors including, but not limited to, the asset you wish to purchase because due diligence must be observed. In this instance, we have highlighted the issues that are apparent and advised of the negative verdict to this application.
We trust that this is in order and assure you of our best intentions at all times.
Yours faithfully,
WesBank
Thank you for bringing this matter to our attention and affording us the opportunity to provide you with comprehensive feedback.
A consumer is required to maintain a certain level/ type of exposure and management in order to build up their credit score for reference purposes to enable any potential financier to arrive at an informed decision in accordance with the National Credit Act (NCA) in terms of intermediate credit lending. The FNB device to which you refer is a CPA product and as therefore not governed by NCA statutes which are considered in the development of a credit score.
The Bank also takes into account a myriad of contextual factors including, but not limited to, the asset you wish to purchase because due diligence must be observed. In this instance, we have highlighted the issues that are apparent and advised of the negative verdict to this application.
We trust that this is in order and assure you of our best intentions at all times.
Yours faithfully,
WesBank