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Cash finance charge and finance charge

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0733076344
Occasional Visitor
Please help me out i am charged CASH FINANCE CHARGE and FINANCE CHARGE and i dont understand this.
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Lurama
New Member

This issue of finance charge and cash finance charge seems to be confusing to many of us standard bank customers with credit cards and no one is prepared to give explanation on the side of standard bank. We are being told to send quiries to email address they give. Can anyone please share with us what std bank said when you contacted std about this issue via email addrees they give when you want explanation. You may not know what we are talking about if you always pay your cc in full every month.

 

Confused.

 

Lurama

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Rams86
New Member

Hello, I just got off the phone with Standard bank. So somewhere in 2016 I made a cash withdraw. The bank from then on kept on charging me Cash Finance fees.  When I called they told because that one time in 2016 I withdrew cash, from that moment on every month I paid Cash fees. Standard Bank does not charge you cash fee for just the month you used cash from your credit card but they will charge each and every month for as long as you have a credit card with them or for aslong as you settle the credit. This to me sounds criminal, the bank has then been punishing for a transaction i did in 2016, they have been charging me almost R200 each month ever since.   I wonder this is a standard practice, because people from other banks were shocked when I told them this. I have decided I will close all the accounts i have with this bank and never look back. I think this is also something that needs to go to the Ombudsman for Banking Services offices because non of this makes sense.

 

 

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