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25-08-2021 09:22 AM
Good day All
Below is an explination from Standard Bank. I do hope it helps!!
Finance charge refers to the interest charged to your credit card account for your swiped transactions in the event that the outstanding balance is not settled in full on a monthly basis. This is calculated daily and added to the account on a monthly basis on your current balance at the time when your statements close.
In order to avoid finance charges on purchases, payment of the previous month’s account must be received in full before payment due date. When the statement closes we allocate an additional 25 days from the closing date till the due date in order for a customer to make a payment. The bank therefore funds the outstanding balance for a period of up to 55 days during which no interest is charged to the cardholder if the account is settled in full or no cash transactions have taken place during the statement period. However, if the closing balance on your statement is not paid by due date, you automatically forfeit the ‘up to 55 days interest free’ period.
24-08-2021 03:26 PM
I will send this to your mail team. However everybody agrees that Standard Bank should give an direct answer to the same question in this Forum Chat within this correspondence. It will just make it easier and a clear, detailed breakdown is nothing more we expect!
24-08-2021 03:16 PM
24-08-2021 11:06 AM
Thank you for your response, we do understand the frustration. Queries are attended by our service consultant to check individual queries. We will escalate this matter regarding the mailbox, to understand what is happening from our end. Thank you for your patience.
23-08-2021 12:05 PM
09-08-2021 10:55 AM
07-05-2021 12:54 PM
07-05-2021 10:40 AM
11-02-2021 06:57 PM
I absolutely agree! He keeps avoiding what we the clients ask and need to know! And keeps telling everybody to send a private email.
What a loser ... or is it Standard Bank telling him what to answer??
Seems to me it's time to move on... going to get these type of info from 5 different banks... and ask friends and family their experience
with their banks etc.
11-02-2021 06:28 PM
14-01-2021 04:26 AM
05-08-2020 09:09 PM
31-05-2020 11:28 AM
31-05-2020 11:24 AM