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Community


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Community

A one-stop forum for all your banking questions

Credit card and cash finance charges

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PieterN
New Contributor

Hi there, I have also noticed these charges keep changing even though I don't use the card while I pay off the card, I've called multiple people too and have gotten no answer on what these charges are exactly or why they keep fluctuating so much. How can I find more information please from someone that does actually know the charges because this seems like a mystery which should not be as it's banking, a fee is a fee and is either set or a percentage but overall, it should always be known and the customer should not just be told "we don't know what makes it change". Thank you.

MandyP
Community Coordinator

Good day @Fgerber,

 

I understand your frustration on this and apologise for the level of service received to date. Kindly note that in order for us to intervene and best assist you, we would require that you send through your full cheque account/credit card details to: [email protected] so as to grant us an opportunity to investigate further. Please use the subject line "Credit card and cash finance charges/Community query for us to be able to identify your query.

 

We apologise again for the inconvenience and delay.

 

Regards,

Mandy

Fgerber
New Contributor

Hi,

 

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......

 

Frans

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