I recently sold a vehicle that was financed by MFC to a private buyer who made payment directly into MFC's account in an effort to speed up the process of closing the account and having the logbook available quicker. The EFT by the buyer was done on the 27th of May at 2pm. I contacted the MFC call centre on the 28th and was told that I need to email a copy of the deposit slip, which I sent at 16h48 of the same day. I did not receive a response on Tues and called the call centre on Wed (more than 24 hours had passed which according to the IVR states that a response will be received in 24 hours!! ), the consultant made me email the confirmation again and thereafter confirmed that the account has been closed and the surplus from the sale will be EFT'ed to me within 48 hours...so approximately the 31st of May or 3 June at the latest.
It is now the 11th of June and I have received no reply from MFC even after sending a reminder on the 6th of June!!!! Also, due to the lack of efficiency at MFC, the June instalment was also debited from my account!!!!!
I find this unacceptable that a simple task like this cannot be accomplished by an enterprise organisation!!!