MBSA Quiz Answers

Here are some expanded answers to the quick quiz questions. Don’t forget to take a look at how you’re doing on the leaderboard at the bottom of the page.

QUESTION 1 ANSWER

If a customer makes an EFT payment into his/her contract to reduce the capital outstanding which option is applicable?

• Customer can reduce either the term/instalment or balloon (if applicable) ✅
• Customer can reduce the RV on his Agility contract
• Customer can keep the funds in the account until he decides what he would like to do with it
• Customer will gain interest on his funds if not used

If an additional payment is made into the customers MBFS contract, the customer has the option to reduce either his term, monthly instalment or balloon payment.
The customer is not entitled to interest if the funds are not capitalised. MBFS can only proceed with a Capital Reduction (CR) provided that the customer submits a completed CR form and proof of payment.

QUESTION 2 ANSWER

Can a customer request for a skip payment on a product type with a 50/50 payment structure?

• No, this is not possible ✅
• Yes, this is possible
• Yes, the customer can do anything he wants on his contract
• Unsure

No, this is not possible as there are no monthly instalments on this contract, except for the 2 payments : i.e. 50% payment upfront upon contract activation and the remaining 50% at the end of the contract term.

QUESTION 3 ANSWER

Can a customer settle his contract early and is there a penalty interest for early settlement?

• Yes, a customer is allowed to settle his contract at any time during the contract lifecycle and a 90 day penalty interest is applicable ✅
• No, the customer is not allowed to settle the contract early
• Yes, a customer is allowed to settle his contract at any time during the contract lifecycle and a 0 day penalty interest is applicable
• No, the customer is not allowed to settle the contract early, if he does wish to settle early a 120 day penalty interest is applicable

Yes, a customer is allowed to settle his contract at any time during the contract lifecycle and a 90 day penalty interest is applicable, as legislated. If the customer has applied for refinance and is taking a new contract through MBFS, the customer qualifies for a reduced settlement (i.e. refinance settlement – with a capital settlement).

QUESTION 4 ANSWER

Can a customer directly change their bank details on the Customer Portal?

• No, this is not possible, a request will have to be submitted to customer services ✅
• Yes, the customer can change his bank details
• Yes, the customer can change his bank details and even the payment method if he wishes to
• Unsure

No, this is not possible. In order to process a bank details change request, supporting documentation is required for FICA purposes i.e. a latest bank statement or stamped bank confirmation letter. This must be submitted via customer services for verification and approval before the change can take place

QUESTION 5 ANSWER

Who can request for information on a customer’s account?

• The customer, an MB dealer and anyone whom the customer has authorised to obtain information on the account ✅
• Only the customer
• Only an MB Dealer
• Anyone who calls in for information

The customer and Mercedes-Benz dealer is able to request information. The customer can however, authorise MBFS to assist any 3rd party dealer or 3rd party individual provided that the customer has given consent either telephonically on a recorded line or in writing via email. Without consent MBFS is not allowed to share any customer information to a 3rd party