Settlement Quote & Pay

[#1]

1. How do I view my VAF account on the app?

• If you are registering for the app for the first time, you will be asked to link all your available accounts.
• Once you have done this, you will notice that your VAF account is automatically added, and available as a “ghost tile” on the homescreen.
• Simply tap the ghost tile to activate your VAF profile on the app.
• Currently, only customers with a transactional account will be able to link their VAF profiles.
• If you are already an app user, you will navigate to the ‘Explore Products’ menu, at the bottom of the home screen.
• From there, you will find the Vehicle and Asset Finance option. Select that, to create a ghost tile on the home screen.
• Then, simply tap the tile to automatically activate your VAF profile to the App.

2. How do I see my VAF settlement quote?

• From the home screen of the App, tap on your VAF tile to retrieve a more detailed view of the account.
• Scroll to the right to view repayment due, loan amount and settlement quote.
• Tap on ‘View now’ to see details of your settlement quote.
• Please note that a detailed settlement quote will be emailed to the email address that we have on record for you.

3. For how long will my VAF settlement quote be valid?

• From the home screen of the App, tap on your VAF tile to retrieve a more detailed view of the account.
• Scroll to the right to view repayment due, loan amount and settlement quote.
• Tap on ‘View now’ to see details of your settlement quote.
• You will now be able to see:
  • Your settlement amount
  • Number of days interest included
  • Settlement quote valid until (date)
  • Date of your next repayment

4. Once I have requested my VAF settlement quote, what amount do I pay?

• Please ensure that you pay the exact settlement amount as it appears on the settlement quote.

5. When do I need to pay my VAF settlement quote?

• Please ensure that you make the payment before or on the settlement quote validity date.

6. What reference details do I use when making my VAF settlement payment?

• Please quote your Standard Bank Vehicle & Asset account and deal number, as it appears on the settlement quote, as the reference number.

7. Once I have paid my VAF settlement payment, what do I do next to settle the deal?

• You are able to make payment of the settlement amount using your Standard Bank Internet Banking profile or by visiting your nearest branch.

8. What if I am in the market to buy a new vehicle after settling my existing vehicle account?

• Once we receive your request for a settlement quote, a leads email is generated and submitted to our VAF Retentions Desk.
• One of our agents will contact you to determine if we can assist you with a vehicle re-finance solution.

9. Can I originate a new vehicle finance application from the smartphone App?

• No, at this stage you cannot originate new VAF accounts. We are looking to add this feature in the future.

10. How do I see my outstanding VAF balance on the app?

• Your outstanding balance, as well as the original loan amount, will be immediately visible on the VAF tile.
• By scrolling down, you will be able to view general statement information.
• More details about your account are available by tapping on the information icon and viewing the full portfolio.

11. Can I link more than one vehicle to the app?

• Yes. When linking your VAF profile, all your financed vehicles or assets will reflect as separate tiles on your home screen.

12. Do I have to pay for the courier delivery service when I select the option of “Delivered to you”?

• There is no cost associated with the courier delivery service.

13. When will I receive a paid up letter for the vehicle which has been settled?

• The paid up letter will be included in the document pack together with your original NaTIS letter, which you will either collect from Standard Bank or receive via delivery to your specified delivery address.

14. When will my VAF account balance reflect as zero?

• This can take up to 5 working days.

15. Do I have to pay for the courier delivery service when I select the option of “Delivered to you”?

• There is no cost associated with the courier delivery service.

16. When will I receive a paid up letter for the vehicle which has been settled?

• The paid up letter will be included in the document pack together with your original NaTIS letter, which you will either collect from Standard Bank or receive via delivery to your specified delivery address.

17. When will my VAF account balance reflect as zero?

• This can take up to 5 working days

18. Once I have settled my VAF account, what other VAF functionality will I still have on the SBG mobile app?

• The vehicle finance calculator as well as the opportunity to apply for pre-approval of a vehicle finance loan

19. Can the settlement be done from an agent bank account?

• No, as this feature relates to doing a settlement payment from within the SBG Mobile app and using one of your linked Standard Bank accounts on the App.

20. Will I still be required to call the CCC to check if the quote is accurate?

• No, the correct settlement amount will appear on the app at the time of settling the VAF account.

 21. Does the quote/settlement reflect the vehicle details or deal number? If it reflects the deal number, when will it be changed to the vehicle details for those customers with multiple vehicles?

• Yes, the settlement quote shows the full account number/deal number as well as vehicle details. This is a standard feature for any settlement letter.

22. Will I be able to retrieve the payment confirmation at a later stage?

• Yes, the payment will reflect as with any other payment transaction as seen currently on your cheque/savings account.

23. After settling my VAF account, will I be required to phone the contact centre in order for my VAF account to be closed?

• No, the account will settle the exact amount which is not editable and trigger your NATIS request. Through all of this, the account is closed off automatically as the NATIS team will not release the NATIS document unless the account has been fully settled.

24. Is the settlement regarded as an inter account transfer or payment? If it’s a payment, my EAP limit will be affected. Can this be changed to an inter account transfer?

• You would need to amend your EAP limit prior to making the payment on your VAF account. The design of the payment method cannot be changed to an inter-account transfer.

25. Will the app show the window period of the settlement quote?

• It tells you that the quote is valid for 5 working days. The time period will be reflected on the quote that is emailed to you.

[Magdel1]

Please send me my settlement amount

Magdel van Heerden 

660301 0094 089

[Nd0u]

I made a payment from FNB to a Public Beneficiary called "Standard Bank Vehicle and Asset Finance" in a similar manner as described above with my account reference, however I see the account number differs from the one you supplied???

It reflects as account nr 1914186 on the proof of payment. Can you perhaps validate that this s the correct account number?

[ngqumshen]

I need a settlement letter for one of my accounts