Interest charge

FNB cancels interest charges on credit cards after Knowler deals with customer complaint

Why does it take a reporter to get a response from a bank? Bruce Whitfield interviews consumer ninja Wendy Knowler.

High interest is payable when credit card payments are not made on time or fail.

A First National Bank (FNB) client who contacted consumer ninja Wendy Knowler makes a point of never being in a position where he has to pay interest, but has recently been “caught.”

“I’m so reluctant to pay interest that I asked FNB to return my NIL ‘card budget facility’ so that no purchases could be mistakenly charged to it,” Geoff explains.

RELATED: “Huge Refund Paid But Credit Card Suspended Because I Did Not Make Minimum Payment!” “

Sometimes he doesn’t pay the full amount owed all at once, making two or three separate payments on consecutive days.

In June, Geoff scheduled three payments, but failed to find that R768’s first and smallest payment failed.

He only found out on receipt of the next statement, which contained an interest charge of a whopping R450.

© fizkes / 123rf.com

Geoff’s cell phone was stolen the day before the first scheduled payment, but he says he informed FNB within 45 minutes and requested that a hold be made from his accounts.

Knowler goes into the ins and outs of what happened next, but the bottom line is that Geoff wants that R450 interest credited to his account, since he wasn’t at fault.

He says all of his efforts to correspond with FNB Retail Banking have met with a complete lack of response.

In my media request to FNB I said, okay, he could have looked at his credit card statement to make sure his three scheduled payments were made, but he bothered to question the clerk. about it and made sure that everything would be treated as planned, despite the theft of his phone which resulted in his account being temporarily blocked.

Wendy Knowler, mainstream journalist

FNB Card CEO Chris Labuschagne responded with an apology and a promise to the client.

“In light of the unfortunate circumstances that resulted in the late payment, we are waiving the interest charges in full. “

Always check your bank statements line by line, advises Knowler.

“Not a word about the bank ghosting Geoff on this matter. Ugh!”

Listen to the conversation on The Money Show:

This article first appeared on CapeTalk: FNB Cancels Interest Charges on Credit Cards After Knowler Deals with Client Complaint

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