Matter unsettled
I have a loan account with Standard Chartered Bank. Due to the present economic situation, I was not able to pay the monthly installment regularly and the outstanding amount, including the late payment and interest, has gone beyond my capacity to pay. When there was an outstanding amount of Dh13,500, a representative from the bank’s legal department called and offered a settlement of Dh10,000. As I was not available in the office, he spoke to my colleague and offered a settlement. I consented to arrange payment from the company for the settlement amount of Dh10,000 in two installments of Dh5,000 each on February 28, 2012 and March 28, 2012. The representative asked to pay this amount the on due date and on receipt of the amount, he assured a release letter. The amount was paid on the above dates and the receipts were faxed to him. On March 28, he called me and ensured that payment will be done before 3pm in their Bur Dubai branch. My colleague deposited the money at Bur Dubai branch before 1pm and immediately the representative called me and I confirmed the payment and faxed the receipt slip from Standard Chartered office by 1.15pm and requested to send the release letter.
The next day, he informed me that he has moved from the legal department and hence referred me to another agent who was in charge and would arrange for the release letter. When I contacted the agent, I was shocked to hear that the settlement was not approved as he did not get confirmation of the payment of the amount on March 28. However, he said he would get back to me after rechecking with their department. He later deputed another agent to deal with this issue and correspond with me. We met in April to settle this issue and give the release letter. He promised me that in the next week he would send me the release letter as he was convinced after I showed him the documents and the fax message. But he also did not honour his commitment. Meanwhile, I received a call from another agent who claimed that he was calling on behalf of the bank’s legal department and asked me to deposit Dh8,500.
I have honoured my commitment but my mistake is that I did not ask for the settlement offer letter and trusted the agent, legal department and the telebanking facilities. This is a breach of trust on the part of bank for not honouring their offered agreement. I need justice as I am being harassed by the bank to pay another Dh8,500. All my correspondence with them is recorded and one can verify the facts with the bank.
From Mr Shahul Hameed Azeez
Dubai
The management of Standard Chartered replied:
Upon receiving the complaint, Standard Chartered’s Customer Care Unit contacted the customer and launched an investigation. There was no official settlement plan or agreement that the customer made with the bank. The customer had only presented two payment receipts that he made after the reminder payment calls. Our Customer Care unit explained to the customer that a clearance letter will only be issued upon full settlement of the loan and offered a settlement plan. The Customer agreed to the solution and has not raised any further concerns.
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