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Fraud

StanChart’s Deceptive Marketing Scheme Uncovered

 

CAPTION: StanChart Bank Kenya CEO Kariuki Ngari

British multinational banking and financial services provider StanChart Limited has been exposed for targeting gullible customers with a deceptive credit card marketing scheme.

Speaking exclusively to cnyakundi.com, a distraught client disclosed how they lost over Sh34,000 after being lured into a botched “Swipe For Points” advertising campaign.

When publicizing the purported offer, the bank promised to reward its customers with redeemable points each time they swipe their StanChart debit card to make payments.

The points would then be exchanged for various items listed on their official website.

But as our source rudely found out, the real situation on the ground is a total contradiction of the advertised terms.

Although items are available to be claimed for points, the bank quietly sneaked in an additional condition that a portion of the payment must be in form of cash.

“So the bank claims to give you points each time you swipe your card and these points are redeemable on their website for various items.

Now, this is where the con begins.

You can’t claim the items for points only, there is a portion payable by cash.

I went to redeem points against travel tickets that I had saved a lifetime for.

Lo and behold! The KES amount given on their website isn’t what they deduct from your account.

I was slapped with an additional 34K,” the angry client narrated in part of the message sent to our newsdesk.

To add salt to injury, when our source frantically attempted to cancel the screwed-up transaction, all his calls to the bank proved totally unhelpful.

After more than a week of being taken round in circles, one StanChart attendant finally told the client off by blaming a malfunction in their website for the error.

“When I called to cancel the transaction I was told they can’t cancel and after one week of being taken round and round, I was told the Kenya shilling on their website was not updated so I eat my tomatoes in peace.

I don’t know how many other people have been scammed but I just want them to stop.

If the price of the items is different then be honest and genuine with customers,” the source adds.

Standard Chartered Kenya, whose official name is Standard Chartered Bank Kenya Limited – sometimes referred to as Stanchart Kenya- is a subsidiary of the British multinational financial conglomerate headquartered in London, United Kingdom, known as Standard Chartered.

By the publishing of this post on Monday, February 14th, 2022, the bank was yet to respond to any of our calls for comment regarding these damning allegations.


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