24-07-2017 12:38 PM
I would also like to know about these 'cash finance charges'. I spoke to a consultant at the bank (still have the emails) that said if I do an internet transfer from my credit card account to my cheque account - they are linked - the only charge would be R4. But then a R788 'cash finance charge' was deducted (on another occasion R550 or there about). Spoke to the consultant again who said to speak to card division. Spoke to 3 different people there and no-one could explain to me what it actually is. One lady started talking about it being ineterest charged and I reminded her that the first 55 days are interest free? Then she didn't know...... Spoke to another lady who said it's in the T's & C's from when I opened the account. I do still have them (2008) - it talks about interest and says further transaction charges may apply, the website contains a full list of transaction fees - but on the website it is never mentioned!!
Is there anyone at Standard Bank that actually knows what they are?? And is this a proudly Standard Bank fee, if it does exist? I phoned 2 other banks and they don't have it......
01-09-2017 01:48 PM
I have never really checked my bank charges on my credit card until
recently and this is quite alarming. I have been getting a cash finance charge on my card of R341-10 every
single month. This is charged together with a finance charge and a
service fee!!! For the month of August i didn't even use my credit card once yet my
charges were as follows:
Finance charge: R197.89
Cash finance charge: R341.10
Service fee: R45.00
Can someone please explain this to me???
01-09-2017 01:50 PM
I can't believe there are so many people experiencing this problem and the fact that we were not even aware of it.
This is enough to make me want finish and close all accounts with standard bank
05-01-2018 10:54 AM
Standard Bank - Please explain this to me.....
An Exhorbitant Cash Finance Charge - month - after month - after month... .
And I do not use my credit card for cash withdrawels as I lost the pin no!!!
18 Dec FINANCE CHARGE -79,71
18 Dec CASH FINANCE CHARGE -344,21
18 Dec CR PROTECTION POLICY -100,62
18 Dec !SERVICE FEE -55,00 -499,83
31 Dec APO PAYMENT, THANK YOU 787,68
16 Nov FINANCE CHARGE -75,96
16 Nov CASH FINANCE CHARGE -388,78
16 Nov CR PROTECTION POLICY -101,44
16 Nov !SERVICE FEE -55,00 -621,18
31 Nov APO PAYMENT, THANK YOU 794,37
16 Oct FINANCE CHARGE -72,16
16 Oct CASH FINANCE CHARGE -322,00
16 Oct CR PROTECTION POLICY -102,33
16 Oct !SERVICE FEE -55,00 -551,49
30 Oct APO PAYMENT, THANK YOU 801,56
05-01-2018 12:55 PM
The best way to resolve this is to make contact with you in order for us to go through your account with you. Note, for credit card purpose it is used for online shopping and EFT purchases. the difference will be when you withdraw cash or transfer money into your personal account hence the cash finance charges.
Please forward us a mail with your account details and contact number for further assistance on this. You can mail us here: [email protected]
23-02-2018 07:31 AM
04-05-2018 09:32 AM
Hi, this month I have been charged 2.75% on all international purchases on my credit card as fee called !INTL. TRANS FEE. I have never been charged this fee before. This month it has already added R160 to my account in fees. Does anyone else know about these fees, and was anyone suddenly charged without being communicated to?
07-05-2018 02:17 AM - edited 07-05-2018 02:18 AM
Hi GYI. I've been experiencing the same issue.
In my case, it appears as if these !INTL. TRANS FEE. charges started around mid-April. So far I haven't been able to talk to to anyone who could explain what they are for or when it was announced. (There also seems to be a minimum charge of R6.85, no matter how small the international purchase/charge).
07-05-2018 02:41 AM
Combing through the latest 2018 credit card pricing guide, it turns out they do make mention of this 2.75% charge on all international payments/purchases. (I found the guide on this page https://www.standardbank.co.za/southafrica/personal/products-and-services/bank-with-us/credit-cards/..., under "What it Costs" when you select a card - in my case it was the Gold Card).
This change was never communicated to me though, so still not happy about it.
07-05-2018 03:28 AM
Just wanted to clear up something about that R6.85 minimum charge I mentioned - it looks like I was mistaken. That specific fee was still only a 2.75% charge based on one of my international purchases.
30-04-2019 11:14 AM
Credit card usage it is only good if at the end of 55 days free
of charges you are able to settle down all outstanding amount,otherwise
it is the most expancive loan,use over draft or revolving account instead.
08-07-2019 12:43 PM
Is it possible for the bank to explain on this platfom what going on with this charges?
so if the bank is charging me R14 a month, it means that after a year R168 would be paid for a card.
this month i have paid R359.66, the following is what i have charged
service fee R40
cr protection policy R58.20
cash finance charge R19.86
finance charge 190.63
card fee R14
please standard bank, can you explain this?