A letter was received from Direct Axis on a WESBANK Letter Head advising that I am a premier customer and that I qualify for a Personal loan, Contacted the number on the card to apply for the Loan amount for which I qualify as per the letter and was granted a Loan much lower then what was on the letter and at a higher interest rate to what was stated on the letter. After I queried it I was advised that the letter is a general invitation and not meant for specific people.
After submitting a complaint the interest rate has been lowered but now I have two loan accounts on my name (one for the original interest rate and one for the amended interest rate)
Beware of DIRECT AXIS Marketing Material as it contravenes the Consumer Protection Act as it is false, misleading and deceptive representation (Consumer Protection Act No 68 of 2008 Part F Section 41 (1) (a)(b)(c)
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