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Credit Card Charges

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Occasional Contributor

Re: Credit Card Charges

My name is Bhekumuzi. I have sent an email to the email address provided but no one responded in either a call nor email. I had to call the credit card division and a fellow tried explaining where this charge comes from but I am still not happy. I have no other option but take this matter to the next level.

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Community Coordinator

Re: Credit Card Charges

Hi Bhekumuzi,

 

Which email address did you send the email to and what is your email address so that we can follow up?

 

Regards,

Standard Bank Team

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Occasional Contributor

Re: Credit Card Charges

ask.SBSA@standardbank.co.za:

 

The Email I sent was:

Hi,

 

With regard to the explanation given about the cash finance fee on my credit card. How is it calculated as it appears it is consistent month after month. I have been charged even in month's that I did not transact in the manner which it is this fee is levied.

 

 

 

The above email was the second email sent which was on Monday the 16th of January.

 

Another question is where is this fee advertised as I can't find it anywhere

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Occasional Contributor

Re: Credit Card Charges

ask.SBSA@standardbank.co.za:

 

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Occasional Contributor

Re: Credit Card Charges

ask.SBSA@standardbank.co.za:

 

The Email I sent was:

"Hi, 

With regard to the explanation given about the cash finance fee on my credit card. How is it calculated as it appears it is consistent month after month. I have been charged even in month's that I did not transact in the manner which it is this fee is levied.

 The above email was the second email sent which was on Monday the 16th of January 2017" 

Another question is where is this fee advertised as I can't find it anywhere

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New Contributor

Re: Credit Card Charges

[ Edited ]

Same happened to me, the credit card department can't really tell me what these charges are for. They keep on saying it works on a sliding scale of my activities on the credit card. But they can't give me the exact charges per activity? Please, can someone with a bit more knowledge try and explain this? It can't be that difficult. Interest is interest, bank charges are set. But these charges seem as if they fall out of the sky?

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New Contributor

Re: Credit Card Charges

*can't....
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New Contributor

Re: Credit Card Charges

I took out my credit card to pay for my wedding. I understood a monthly fee of R35 (now R45) would be charged. Plus you are charged interest. Then for each EFT I did to pay for the wedding I paid R1.35 plus a certain % of whatever I was paying (The exact amount is in the pricing guide). So I paid on average R25 for each EFT I made.

 

When I phoned the credit card division, they explained the cash finance charge to me as being an interest charge on the total amount of money I spent that month. So I paid out R13000 for the wedding in December and I was charged interest on that.

 

So technically, it is triple interest they are charging??

- interest on acc

- interest on each transaction

- interest on total monthly spend

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Occasional Contributor

Re: Credit Card Charges

That is my fight to. It is just ridiculous.
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New Contributor

Re: Credit Card Charges

This is shocking. I spent NOTHING on my credit card and I get cash financed charged AGAIN!!!!!!! As well as the finance charge.

I want an explanation. No explanation and I am taking this to the banking ombudsman and to 567 Cape Talk!!!!!!!!!!!!!!!

My husband has a credit card with FNB and has no other hidden fees!!!

 

I am moving my entire banking over to FNB.

New Contributor

Re: Credit Card Charges

Hey, smart person (I am being sarcastic) reading these forums on behalf of Standard Bank, Get off your chair, walk to your bank charges division and ask them WTF is these cash finance fees. because as you can see not one branch can tell anyone what they are. They don't make sense and no one can tell us what we are being billed for.... We are almost 20 people complaining about this? Here is a tutorial on how to stand up and walk... https://www.youtube.com/watch?v=uT5T5745tCE

 

Let me know if you need one on how to communicate to colleagues.

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New Member

Re: Credit Card Charges

I'm experiencing the same, seems the charges nearly swallow the montly payments I make!

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New Contributor

Re: Credit Card Charges

I got charged R 822 for cash finance charges on my credit card. How is this possible? I spoke to your consultants and they cant realy explain this to me. And how can it be so high?

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Community Coordinator

Re: Credit Card Charges

Hi,

 

This is concerning, what did the consultant advise you?

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New Member

Re: Credit Card Charges

I was going through my credit card statment this morning and i have also come across all these Cash finance charges that have come off my card.  They all happen the same time of the month the day i make a payment into my account.  on the 28th i had R257 , R35, R25 taken off my credit card.  i really need an explanation for this and when you try and phone no body can help or the phone keeps cutting off as you get someone on the other end.  I make payments every month but i cant get anywhere with the fiannce charges eating away at them.   Can somebody please assist me.

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New Member

Re: Credit Card Charges

Can anyone explain to me, what are the standard charges (monthly) for the credit card.
I am being charged R59.59 finance charge, R54.70 cash finance charge and R28.00 Service fees. I feel like these devils are robbing me, am being charged every months even if I don't use my credit card...are the charges being regulated? This is a daylight robbary.

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