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Cash finance charges

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Sanele3574
New Member

Cash finance charges

Standard bank what are these cash finance charges on my credit card...they are so high and they were never explained to me...please clarify because I feel this is daylight robbery
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Community Coordinator

Re: Cash finance charges

Hello @Sanele3574

 

There is a chage for every cash transaction on your credit card. You will notice that this charges will depend on your usage of your credit card especially if you are using for withdrawals on any ATM.

Please see attached credit card pricing for 2017: http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing/Credit_Card_Pricing.pdf

 

Let me know if this was helpful.

 

Regards,

Boitumelo

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Thulanes
New Contributor

Re: Cash finance charges

Ho,

I have also noticed an item on my credit card statement described as "cash finance charge".

From the solution that has been posted this was ascribed to cash withdrawals. However I have not made any cash withdrawals in the past two to three months but still have relatively huge amounts on this item, more than the interest charge.

I must say not only is this disappointing but disingenuous and just plain criminal for a bank to be making such deductions for quick buck, I am incensed.
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Thulanes
New Contributor

Re: Cash finance charges

Hi,

I have also noticed an item on my credit card statement described as "cash finance charge".

From the solution that has been posted this was ascribed to cash withdrawals. However I have not made any cash withdrawals in the past two to three months but still have relatively huge amounts on this item, more than the interest charge.

I must say not only is this disappointing but disingenuous and just plain criminal for a bank to be making such deductions for quick buck, I am incensed.
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Community Coordinator

Re: Cash finance charges

Hello @Thulanes,

 

The best way to resolve this one for you is to have your full account details with your full query to be be emailed to us. Note, we will look into your query by further investigation on your account and provide feedback.

 

Kindly mail us here with your full query and account details: [email protected] for further assistance.

 

Regards,

Boitumelo

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deanpatt
New Contributor

Re: Cash finance charges

Why do you need to look into the account if the charges are calculated on the withdrawal?
I thought you dont pay for the transactions, that is why the finance charge is so high, and a card charge .
Banks charge for everything, i am to scared ti go into the bank cause you will charge me for that as well.
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Selinah
Visitor

Re: Cash finance charges

I only did one withdrawal for R150 using the card, the charge was R153,16 and I got a R12 charge for using another bank's atm. So basically I was charged R165,16 to withdraw R150. Wow.

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Community Coordinator

Re: Cash finance charges

Hello @Selinah

 

To assist you further on this, please forward us with your account details and contact to look into this for you.

 

You can mail us here: [email protected] for further assistance. Once we receive your mail we will investigate and contact you for feedback.

 

Let us know should you need further assistance on this.

 

Regards,

Boitumelo

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zamo15
New Member

Re: Cash finance charges

I have a similar problem, were you guys helped these amounts are huge. they above R100
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