I have a credit card from Standard bank and I wanted to know where they got the money to loan me on that credit card. Since I am paying it back with HUGE amounts of interest, I think I have the right to know. Furthermore, you cannot loan something you don’t have. If I don’t have a car, I cannot lend you a car. So if Standard bank loaned me money, they must have had the money to loan me in the first place, right? That’s what I thought but when I asked Standard bank card services this question, they passed the buck.

In classic corporate style, they passed the buck. Standard bank is like every other corporation on the planet, no-one is responsible, they simply pass you on to someone else in the organization when you stump them.

I don’t understand why my simple questions were not answered and I am not going to leave it here. I am going to scratch further and will post the results, but I wanted to post something now about how corporations, and in particular, Standard bank, pass the buck when you confront them. This is what makes it almost impossible for normal people, like me, to crack the shield of mis-information their PR dept pumps out.

Here is the email chain between myself and Standard bank card services so EVERYONE can see how Standard bank card services passes the buck.

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To whom it concerns,

My name is Douglas Hoseck (id removed).

Please could you email me a copy of the credit agreement between myself & Standard Bank with respect to my Titanium credit card.

Many thanks
Douglas Hoseck

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Good day Mr. Hoseck

It is my pleasure to assist with your credit agreement request. For your convenience I have attached a copy of our credit agreement as requested. You are welcome to contact us, should you require further assistance.

Kind regards

Lesil Johnson

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Dear Lesil,

Thank you for your prompt response.

I have had a read through the agreement and am struggling to find something. I am looking for the part where it is expressly stated that Standard Bank has the money (in their possession) that they loan to me, in terms of the agreement.

Would you be kind enough to tell me where, in the agreement, Standard bank asserts that they have the money to loan me?

Many thanks
Doug Hoseck

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Good day Mr. Hoseck

It is my pleasure to assist you with your request.

Please accept my sincere apology for the delay in responding to your e-mail.

Kindly explain in more details as we are unable to understand that (Standard Bank has the money in their possession) that they loan to me, in terms of the agreement. You have accepted the credit facility as set out in the quotation during the telephone call which forms part A of the credit agreement.

You are welcome to contact us, should you require further assistance.

Kind regards

Sibongile Ndlovu

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Dear Sibongile,
It’s really quite simple. If you loan someone money, you have to have the money to loan. You CANNOT loan something you do not have, right? I want to know where, in the agreement, Standard Bank states that they have the money to loan me?
Many thanks
Doug Hoseck
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AND HERE IS THE “PASS THE BUCK” EMAIL, thanks Pam:)
Good day Doug

It is my pleasure to assist you with your enquiry.

Kindly be advised that Stanbdard bank is an authorised financiaL service provider.

For more information contact our Legal department on 0861001868 as they are best equiped to assist with your enquiry.

You are welcome to contact us, should you require further assistance.

Kind regards

Pamela Vilander

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Dear Pamela,
If you are in fact an “authorised financiaL service provider” then surely you know where your finances come from! Or are you not authorised to reveal that info? You certainly do not seem to reveal that info in your credit agreements!
I will take this up with your legal department (after I post these emails on my blog to illustrate how you all pass the buck at Standard Bank) just as soon as you provide me with an email address for your legal dept!
Thanks
Doug Hoseck
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At the time of posting, that was the last I had heard from them and since it is now after 3:30 PM, I do not expect an answer today. I think I should start a bank. That way I too can make money out of thin air and only work until 3:30 PM.