Pick 'n Pay
Incurring extra banking costs for elderly
- 04-05-2013
- 1
Im shocked. My elderly parents made a purchase at PnP.
They never use a budget facility.
From the bank statement its seen that the transaction listed below was placed on budget.
It means that they incur bank costs.
Can an explanation please be provided as to what is to be done to rectify the situation and why cashiers are not asking before completing transactions.
Why does the consumer and in this case elderly customers need to pay for negligent behavior.
Beyond the banking cost and budgeting implications the consumer is affected through the following cost :
If you make a purchase for Rxx on budget you would use the following formula to calculate the interest and repayment amount. FORMULA (PURCHASE AMOUNT x PERIOD x INTEREST RATE) / 365
Interest is at 17 % per annum!!!
Why is this allowed to happen?
Please advise and use the number listed in the line below titled MOBILE PHONE NUMBER
Company: Pick 'n Pay
Country: South Africa
City: Claremont