1 reviews | Active since Jan 2015
Wesbank overcharged me on shortfall interest
My vehicle was written off & on 12-03-2019 the insurance company paid Wesbank. TWO months later on 20-05-2019 I received a shortfall letter with an amount of R27 713.91. Before I could make a payment agreement with Cindy Van Heerden for the monthly debit of R3 462.92 to continue till the shortfall amount was paid up,
I asked her: “The interest I will be paying will be for the shortfall amount or will that be for the initial financed amount? How many months will I be paying the amount of R3462.92 till the shortfall amount of R27 713.91 will be paid up?”
She rep****: “The shortfall will be paid over 7 months. The interest is calculated monthly on the balance remaining , every month when payment is made the shortfall decreased and the interest is being charged on the decreased amount”
On 17-01-2020 after making 8 payments which totalled R27 549.28. I queried with Cindy for my shortfall balance to which she emailed me an amount of R 16,571.05.
3 days later she rep****: “You have already paid R27 549.28 without interest per month for 7 months – we need to add the interest amount from the time of the arrangement 31 May 2019. The total interest added for 8 months equals to R11 325.33. Interest amount R11 325.33 divided by 8 months R1415.66 per month"
So an amount of R27 713.91 which is paid over 8 months will accumulate interest of R11 325.33????
I then called and spoke to a consultant as to why was I charged so much interest but they could not answer me. I emailed and had two consultants replying and after numerous emails they said that the amounts were correct.
If one has to take a loan and do the repayments like I did with double the interest rate it still would not amount to this.
When we went into hard lockdown (April 2020) I was handed over to the attorneys with no warning and was told I could pay the balance in smaller amounts.
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards, WesBank Service Resolution
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards, WesBank Service Resolution
She could not answer my questions to her so she said she will get some to contact me. To date nobody has called or emailed.
I sent an email to *** on Monday, 10 January. and I received a “Read Receipt” but to date nobody has rep**** or called me.
Do I need to put another complaint for my initial complaint?
She could not answer my questions to her so she said she will get some to contact me. To date nobody has called or emailed.
I sent an email to *** on Monday, 10 January. and I received a “Read Receipt” but to date nobody has rep**** or called me.
Do I need to put another complaint for my initial complaint?
We went over the emails again and Mariah eventually saw an email that Cindy Van Heerden sent to me and what my entire complaint was about. Mariah said she will check on this and get back to me but I am still waiting for further communication.
In the meantime, Brooks & Luyts Attorneys are calling me every day, even after I explained to them what is happening.
Mariah, can you please contact me to sort out this issue. You have my contact number and my email address. Thank You.
We went over the emails again and Mariah eventually saw an email that Cindy Van Heerden sent to me and what my entire complaint was about. Mariah said she will check on this and get back to me but I am still waiting for further communication.
In the meantime, Brooks & Luyts Attorneys are calling me every day, even after I explained to them what is happening.
Mariah, can you please contact me to sort out this issue. You have my contact number and my email address. Thank You.
On 28-04-2022 Maria emailed me, “This is the Banks final stance on this matter that an amount of R4055.19 is a refund due and will be refunded to you.”
I refused and contacted the Ombudsman. After a few emails explaining my situation and submitting my proof, on 25-10-2022 the Ombudsman finalised my complaint and found that Wesbank owed me a refund of R17 465.35 (that’s Seventeen Thousand, Four Hundred and Sixty Five Rands and Thirty Five Cents!!!).
So Wesbank hands clients over to attorneys for debt collection with threats of being blacklisted even though the client does not owe money. Then when Wesbank is given proof of the amended agreement they had made, they want to evade a refund. After many emails, phone calls and denial from them, they then want to offer you quarter of what they really owed you.
If I never had all this evidence on email then I would not have got my money back. How many people who don’t have any evidence, are being taken advantage of?
On 28-04-2022 Maria emailed me, “This is the Banks final stance on this matter that an amount of R4055.19 is a refund due and will be refunded to you.”
I refused and contacted the Ombudsman. After a few emails explaining my situation and submitting my proof, on 25-10-2022 the Ombudsman finalised my complaint and found that Wesbank owed me a refund of R17 465.35 (that’s Seventeen Thousand, Four Hundred and Sixty Five Rands and Thirty Five Cents!!!).
So Wesbank hands clients over to attorneys for debt collection with threats of being blacklisted even though the client does not owe money. Then when Wesbank is given proof of the amended agreement they had made, they want to evade a refund. After many emails, phone calls and denial from them, they then want to offer you quarter of what they really owed you.
If I never had all this evidence on email then I would not have got my money back. How many people who don’t have any evidence, are being taken advantage of?