Banking woes
Banks and account opening issues have been discussed in the past here as well, but this an incident that took place today which I wish to share. If there is anyone that can influence the policy dept in banks, please please please ask them to think about consumer convenince, instead of making an attempt to sound like idiots by making things difficult for customers.
I joined a new workplace in the end of Dec 2007 and decided to open my bank account today, since the month is drawing to an end, the company will need a means to deposit my salary.
It turns out that I am dealing with MCB Bank, and after filling out the requisite paperwork and doing a million and 25 signatures at obscure places, I was informed that my account will be opened tomorrow…i.e. the next working day.
Why I asked, and I was informed that my NIC will be required to be verified from NADRA (the issuing authority here). Seems logical, only it has already been verified a gazillion times. (I thought I saw the branch said “online” outside).
Plus, I need to pay 10,500 as a minimum deposit amount and when I told them I already had a relationship with their branch in clifton, they tell me they don’t really care and that all info will have to be re-verified and I will still need 10,500 minimum.
Why on earth? Would the person who makes these banking policies please atleast keep consumer convenience in view?
Oh did I mention? I need to pay 250 to close the account too if I wish to. (which might be needed because I dont’t see the point in keeping floating balances to the tune of 10,000 in each account just to meet their conditions).
What madness!
if you’ve got account in clifton branch then why not use that instead(or you could get a letter from clifton branch that you maintain a back account with them ).. statebank have issued weird n stringent policies to keep a tab on money laundering(9/11 paranoia) and black money circulation.. and banks do have their own Nadra terminals for verification purpose so it should not take them more then few mins to verify CNIC..
*bank account*
Tell me about it! And then they go blame everything on state bank! They are all like that, multinational or not.
There are many layers of bureacracy internally. So-called re-organization and image makeovers are only cosmetic.
But yknow, things will not get better, will consumers make demands. Maybe if a bunch of us write to these guys:
http://www.crcp.org.pk/index.htm
why not ditch them altogether.. switch to Alfalah Bank
makes sense for them to keep a minimum deposit but not to get it all verified if you have an account with the same bank in a different branch. most sensible thing would be to go to clifton branch get that letter and open another account in your branch (where you now wish to!) i am sure they would agree to this.
why close the account and pay 250? just get the balance out and let them close it automatically after a few years…
banks which are truly online wouldn’t have treated you like this. in most cases you wouldn’t have to open any new account. this is definitely the case with SCB.
yeh mcb walon kay bhot nakhray hain
i dont like them
Sorry folks, about posting it here, I would recommend this for light reading. Word of caution, please do not take it to heart.
http://tiny.cc/Oq9NI
Cheers!
@Inspirex and all readers of KMB
If you people think that MCB or any of its branches is creating problems with you than let me tell you that there is a “Service Quality Assurance Department” in MCB which basically assures the quality of service being provided to the customers by the staff at branch , these service quality assurance guys are very strict , below I am mentioning the email adresses and contacts of the person whom you can contact and mention your problems or harships which you faced at any branch of MCB:
Najeeb Malik = najeeb.malik@mab.com.pk(head of service quality) – (021-2270089)
Agha Saeed Khan = agha.khan@mcb.com.pk (head of operations)
Faisal Farooq Khan = faisalfkhan@mcb.com.pk
Faisal Ejaz Khan = faisal.ejaz@mcb.com.pk
and if still nothing turns out than you can directly conatact the president and chairmain of mcb:
Atif bajwa = atif.bajwa@mcb.com.pk (president – 021-2270075-76, 042-6041900)
Mian Mansha = mian.mansha@mcb.com.pk (chairmain)
I hope that it could solve your problem to some extent.
Are these emails and name authentic?
Imtiaz, welcome to the mad, mad, mad world of consumer banking in Pakistan. :-))
@Arsalaan Haleem
Dear Brother arsalan,
yes each and every thing which I have mentioned is 100% correct , you can even circulate it among your friends etc so that if any one faces some problem due to our branch in future than he may contact on thses addresses , and one more thing which I am mentioning again that our top management deals the employess at branch with iron hand , only once you they come to know about any complain.
Hey can i have some information about how to complain to ABN AMRO bank. I am using credit card of ABN for the last six months and i have’nt recieved a single bill for any month. I have to call up every month to get to know the bill details etc.
I have been complaining this on their helpline every month but of no use, i want to take this matter to their higher management. Can someone pls guide me their contact email addresses. Apparently i am a gold card holder but the service they provide is very pathetic,
I can second that one.. MCB is a royal pain.. i had to go through a similar ordeal.. and lets just say, by the time it got functional.. I’d already received 3 salaries through cheques from my company!
Hey! Sorry to hear your ordeal with MCB. Banking industry has matured to a large extent and processes are becoming faster and more transparent by the day.
State Bank has removed the condition of maintaining a min. balance (well its Rs. 50 only) and it is upto the bank to keep the limit higher than that.
Also, the NADRA verification is pretty much online in most banks and takes no more than 10 minutes.
We guarantee account opening (account number generation) in max 15 minutes end-to-end.
You should highlight the matter to the SQ dept as mentioned above. I think they’re just taking you for a ride!
lately MCB is trying to act as weird as any foreign bank.
We were forced to shut down our accounts due to policy for maintianing minimum balance., despite the fact that all employees and company account was there.
We moved to NIB and added ATLAS Bank – getting great service and no hidden charges.
EMPLOYEE OF MCB – none of the people reply any emails, and they all DONOT care for salaried people they target corporates and personal accounts of corporate heads only Seems like MCB growth rate will be down 2007 ~ 2010.
lately MCB is trying to act as weird as any foreign bank.
We were forced to shut down our accounts due to policy for maintianing minimum balance., despite the fact that all employees and company account was there.
We moved to NIB and added ATLAS Bank – getting great service and no hidden charges.
EMPLOYEE OF MCB – none of the people reply any emails, and they all DONOT care for salaried people they target corporates and personal accounts of corporate heads only Seems like MCB growth rate will be down 2007 ~ 2010.
HI
I would also like to share my views too well once I went to one MCB branch to submit the share application through my mom’s account but mangager refused to take application because of photo account. well I was angry on the them and said this unjustice I lodge a complain on the state bank’s web site and for my surprised I got the call from bank manager apoligizing about the refusal of application. but ask me that please withdraw you’re complain and give me the latter stating that all that happend was just because of misunderstanding with bank staff.
Last time I stepped into an MCB branch was probably in 1978 at their Lawrence Road branch near Baloch Para and Lasbela. It was not a bad place. I remember these wide huge blinds covering their windows. Nice staff, good people, pretty organized for Karachi. The recent nationalization of private banks (MCB was foudned by Isfahani chaae people) had not made a dent in their service yet. Then came the long military rule, and two crook Prime ministers taking turns twice. One of these crook prime ministers ended up selling MCB in an auction, except Mansha group was not the highest bidder. Only in Pakistan you can loose the auction and still end up owning an asset. Only in Pakistan.
Navaz Sharif and this Insha or Mansha must have made a killing. These guys will milk MCB till it dies, and then default and run away for few years. And, nothing will happen. Only in Pakistan.