Lenders address and help resolve consumers’ woes
One customer was unhappy with the additional loan charges levied, the second was upset over outstanding balance while another received 50% discount on late payment fee
Additional interest on loan
Iapplied for a personal loan from Commercial Bank International (CBI) Dubai, in October 2013, for an amount of Dh370,000, and the tenure of 48 months. I started paying the monthly instalments from November 2013. As per the tenure, I should have completed my repayments as of October 2017. After the deduction of my payment of loan in October 2017, my loan account showed a balance again for one more payment, and some additional amounts, close to Dh2,000. Since it was an auto-debit format, the account usually doesn’t check for more details.
I checked with the call centre. They initially informed me that the bank had made me a promotional offer of one month differed payment during the month of August 2014. This was done by the bank officials themselves, and I had not requested it, neither was there any confirmation from my end. Also, I had enough funds in my account during this time to make monthly payments. Still, the amount showing up as balance, was not matching as per the details provided.
I told the agent that I was not clear about what they were trying to tell me, and she said she would get somebody to call me from the loan department, who could explain the issue better. I waited for the call for a couple of days, but nobody called.
I called the bank again and spoke to another agent who gave me another explanation. This offer was given by the bank and there is additional interest charged on this differed payment. Unfortunately, the agent said he could not do anything about it.
I had no option other than to go to the branch and raise the same concern again. They told me they could not do anything from the branch and advised me to ring the call centre to make a complaint.
On October 21, 2017, I called the bank and raised a complaint, to which they said somebody would get back to me within three to four working days. I waited till October 27 and since nobody called, I called the bank again to get an update.
Unfortunately, they informed me that the bank had closed the case, saying they couldn’t reverse the additional interest charged.
How can the bank make a special promotion like this and charge extra interest on the payment without my confirmation, especially as there has been no delay in payments from my side? I would appreciate Gulf News’ intervention in this matter, as I would like to get a resolution as soon as possible.
■ FROM MR SAKKEER HUSSAIN
Dubai
The management of CBI responds:
CBI’s priority is to provide our customers with a smooth and streamlined banking experience, and ensure that all information about their banking relationships remains private and confidential. We resolve complaints directly with our customers and endeavour to provide solutions that satisfy them.
Mr Hussain responds:
I would like to extend my sincere thanks to Gulf News, as after the newspaper’s intervention, CBI agreed to reverse the charges.
(Process initiation: January 13. Response from organisation: January 15. Process completion: March 14.)
Credit card issue
Ineed Gulf News’ help in raising a concern with my bank. I had a credit card with Abu Dhabi Islamic Bank (ADIB), which I had settled in April 2017. Till date, the details have not been updated with Al Etihad Credit Bureau, rather, they have stated that I have an outstanding amount of Dh350 to clear. I had paid the full amount that was outstanding at the ADIB branch in Sahara Centre, Sharjah. I had taken a picture of the credit card closing form as evidence, for myself. The document has the signatures of the bank representative. At the same time, they had destroyed my card after I had paid the amount in full to the bank teller at the same branch. I visited the bank branch again on December 16, 2017, and had to deal with a rude customer relationship officer who told me to go back to the person who had taken care of the case earlier (the person who signed the form). Why should I be responsible for this, when I have paid all the dues that the bank required from me, at the time? From April to December 2017, the bank has ruined my credit history by stating I owe money, and since I have not paid them, my rating has been ruined for the same. There was no communication about the Dh350 I owe them, or else I would have settled it right there and then. But I will not support this, as it is the bank’s fault. I have a document where the bank personnel cleared my “Outstanding Balance Settled”.
■ FROM MR FAHAD SHAIKH
Sharjah
The management of ADIB responds:
Thank you for raising this issue to us. The Customer was contacted and his issue was resolved. The charges were imposed on the card as the bank received the payment after due date. As a gesture from ADIB, we have already reversed the charges and are working on getting his delinquency removed from the credit bureau.
Mr Shaikh responds:
Thank you for raising my concerns. With Gulf News’ help, the issue has been resolved and my credit report has been cleared.
(Process initiation: January 27, 2018. Response from organisation: January 30, 2018. Process completion: April 18, 2018)
Overdue fees
Ihave a loan at First Abu Dhabi Bank (FAB), which I am paying regularly. My monthly payment was due on April 5, 2018, and as soon as I received my salary on April 5, I made the instalment payment to FAB through UAE Exchange, as there was no FAB cash deposit ATM in Al Nahda 2 area, Dubai.
Although the payment was made on April 5, due to the next day being a Friday, the bank received the payment on April 7 and they charged me a late payment fee of Dh275. I requested the customer care personnel to consider the case, as this happened for the first time because I received my salary late, but they didn’t accept my reason.
I would request Gulf News to please intervene in the matter and try to get this late payment reversed, as this has happened for the first time in two years.
■ FROM MR ARUNKUMAR PATEL
Dubai
The management of FAB responds:
FAB supports the growth ambitions of its stakeholders and goes beyond financial products and services, and as such, we are grateful for all customer feedback as we strive to consistently deliver the highest standards of service. The bank has been in contact with Mr Patel, and the matter has been resolved.
Mr Patel responds:
Thank you Gulf News, for the support. FAB representatives talked to me and said that they can’t waive full late fee amount but they will make it 50 per cent after getting approval from the management. They have given me a very good response.
(Process initiation: April 26. Response from organisation: April 30. Reader confirmation: May 1.)
■ Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.
How can the bank make a special promotion like this and charge extra interest on the payment without my confirmation, especially as there has been no delay in payments from my side?”
Mr Sakkeer Hussain | Reader
From April to December 2017, the bank has ruined my credit history by stating I owe money, and since I have not paid them, my rating has been ruined for the same. There was no communication about the Dh350 I owe them.”
Mr Fahad Shaikh | Reader
Although the payment was made on April 5, due to the next day being a Friday, the bank received the payment on April 7 and they charged me a late payment fee of Dh275.”
Mr Arunkumar Patel | Reader