September 21, 2019

The Editor speaks: Do banks really want the general public’s business?

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Colin Wilson

I firmly believe they don’t.

I refer you to one of our correspondent’s columns, Chris’ Corner – Banks “draconian new procedures”

I 100 per cent agree with him.

Just recently we received a call that a cheque we had written and handed to a company for payment of services had been returned by the bank because the year had not been filled in.

We had to pay the fee for the returned cheque.

We had to collect the cheque and write the date in, initial it and hand it back for representation.

That the company who had taken the cheque and had not noticed the year had been filled in was, according to them, not their fault. We were 100 percent to blame. We had to pay 100 per cent of the charge.

The bank could have, and in the old days would have, called us up and asked for authority to write the year in.

It would have taken seconds to have done that.

Chris (Johnson) writes:

“With the advent of all the anti money laundering laws enacted over the years, banks have introduced draconian new procedures which are so contrary to public interest that customers are reeling. As a professional having dealt with local banks for over fifty years I am appalled at their lack of concern for their customers. They have introduced measures which go well beyond of the normal incurring huge time and costs to the business community. Their emigration to Camana Bay and closure of branches has added to the problems confronting all customers, business and ordinary folk alike. Of course all these tiring additional procedures result in additional costs and guess who is paying for that. On the other hand make a deposit and receive an annual return of 0.002 % per annum.”

One bank in particular, one of our largest, doesn’t even have a name, address or telephone number, listed in the local telephone directory. Not in the 2018 edition nor the 2019 one.

Perhaps, 2018 and 2019 don’t exist now for this bank? Therefore, are they in fact telling us there is really no need to place either of these two yearly dates on their cheques? Just the day and the month will suffice?

We have just found out the answer is “no”. And “no” they can’t fill it in, neither can the person who received it, and you must go back to the receiver , write the two digits in and squiggle an indecipherable initial against it.

The fact that both of us are elderly, mid 70’s and 80’s respectively, doesn’t matter a damn.

We should count ourselves lucky we have an account with their bank because they really don’t want our business. Perhaps it is too small and too HONEST?

See also today’s story “Global banks are cutting 30,000 jobs this year. It’s a sign the banking crisis is only getting worse”

END

You can view Chris’ Corner at: http://www.ieyenews.com/wordpress/chris-corner-banks-draconian-new-procedures/

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Comments

  1. Chris Johnson says:

    The stories get worse. I ordered a draft for 300 pounds sterling which resulted in a hasty enquiry from a bank that I have been dealing with for over 50 years. I pointed out it was for my aunt in England. That was not enough they said. I further explained that it was for a new TV.
    That is completely over the top. Perhaps I should have made enquiry of the suspicious circumstances which brought this all about.
    However I let things be so my dear old aunt can educate herself on money laundering by watching the many programmes on the subject.

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