Wesbank capital reduction

[f2wohf]

Hi,

I’ve made a payment for a capital reduction and I have a doubt on whether it has really been allocated for a capital reduction or if they counted it as an advance.

I called them but the call center is quite useless.

If anybody did one, how does a capital reduction appear on your statement?

Do you have a negative “amount due” line?

Thanks

 

[Sinbad]

It's a capital deduction. Yes, you'll have a negative amount due, and you will get an interest rebate every month.

 

[f2wohf]

It's a capital deduction. Yes, you'll have a negative amount due, and you will get an interest rebate every month.

Cool, thanks.

I had a doubt whether it had been allocated properly because of the negative amount.

 

[Sinbad]

Cool, thanks.

I had a doubt whether it had been allocated properly because of the negative amount.

They can't allocate it to anything else... It will show on your statement as an advance amount.