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PERSONAL LOANS
Report ID: 5599
Crime Category: Fraud
Province: Gauteng
City/Town: JOHANNESBURG
Suburb: N/A
Address: online
Crime Date/Time: 03 February 2014, 1:00PM
Reported Date: 03 February 2014
Related Link: N/A
The Incident
I visited www.mercantilefinance.hpage.com after receiving an sms that i could qualify for a loan at 3.5% interest. I made an application via clientservice@mercantilefinsa.com for R60 000 and my application was approved, but i was supposed to pay R2640 to the company's attorney before the money could be transferred to my account. 

I became suspicious because the repayment amount was R894 for 48 months, which does not add up to R60 000 (48 x 895 = 42 960)! So they got their mathematics all wrong (i'm an Actuary by the way)...so i knew something was fishy. Banks do not make this kind of mistake when it comes to money.

I asked for the company's NCR and registration numbers. They gave me the following numbers

Registration No:1965/006706/06

NCR No: NCRCP19

Upon farther cross checking with the NCR website, i discovered that these details actually belong to Mercantile Bank In Sandton, who are NOT even affiliated with Mercantile Finance.

I am convinced that Mercantile Finance is a scam. 

the contact person at Mercantile Finance was Mr Fred Owen.

PLEASE BEWARE OF MERCANTILE FINANCE...FORE WARNED IS FORE ARMED.

Mark as SPAM/Inappropriate




8 Comments for: PERSONAL LOANS

Comment by: nonhlanhla mokoena
Comment

Hy I've got and sms on my other phone told me about the loan plz can you help me about a loan I need to pay all my account plz you can call me on this number 0736092713 plz.( asap). I'd no:7808250749081 Regard..N Mokoena Thanks

Date: 7 August 2014



Comment by: moe
Comment

Who's the broker u were assigned to

Date: 30 June 2014



Comment by: juan
Comment

i just recieved a sms for the same loan type of thing with an email consultloan@mercantilefinsa.com from the cell number 076 204 8440 that domain of the email adress isnt even working

Date: 29 April 2014



Comment by: sibonelo
Comment

I need a loan desperately to settle my debt n to make other sources of income

Date: 14 March 2014



Comment by: Khanyisile
Comment

Ii need a loan i would like to settle all my debts so can u help me please

Date: 26 February 2014


 
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03 Feb 2014
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