A Horror Story of Banks in the Philippines
I used to be sympathetic whenever I hear banks getting robbed by thieves or an organized group of robbers, but lately, I had a change of heart. I could not care less anymore if banks get robbed, serves them right. This is after I was treated unfairly by my bank. A bank where I was a long-term depositor.
You see, I lost P350 monthly just because my daily balance was below the P10,000 monthly. I would understand if I was a new depositor. But when I opened my account, the monthly required balance was only 2,000. Without my knowledge, the bank increased it to P10,000. According to the bank's officer, they sent notices to me and since no notice was sent back to them, they assumed that I got it. What if I transferred to a different address? Banks should at least be conscientious when it comes to serving their clients. There was another way for them to reach me, and that is through my email. They still could have used that. Or why not a text or reminder through my cellphone, I could still receive that. There should be at least three methods to inform a client. That's why I appreciate RCBC. There is no reason for me to miss my due dates in my credit cards because aside from the hard copies of my bills, they also text me my balances. I so love RCBC Bankard. But I digress, I am talking about my cheating bank and robbing bank.
So imagine my surprise when my 9k+ was reduced to only 300 when I checked it. I could not hide my disappointment, anger, pain, and sorrow in front of the bank officer. My hard earned money, which I thought is earning a little interest for the past 3 years that I did not touch it, was now only P300. And the insensitive bank officer asked me what I would do with it? What does one do with only P300 in the bank? Does he really want me to continue banking with them after robbing me of 9000?
I'll never understand the concept of the dormant account. Why penalize a client for a dormant account? Aren't banks supposed to even be happy the client is not getting his money out of their bank? Granting that the client has not shown up for an entire year, and they were withdrawing 350 a month, the client could be dead for all we know, but the moment the client shows up, the bank should reimburse the client with the deducted amounts and the accumulated interest. Maybe it was the only free time the client had to visit his bank.
Banks in the Philippines have a responsibility to their clients, and their main job is also to serve, not serve themselves and not rob their clients.
So imagine my surprise when my 9k+ was reduced to only 300 when I checked it. I could not hide my disappointment, anger, pain, and sorrow in front of the bank officer. My hard earned money, which I thought is earning a little interest for the past 3 years that I did not touch it, was now only P300. And the insensitive bank officer asked me what I would do with it? What does one do with only P300 in the bank? Does he really want me to continue banking with them after robbing me of 9000?
I'll never understand the concept of the dormant account. Why penalize a client for a dormant account? Aren't banks supposed to even be happy the client is not getting his money out of their bank? Granting that the client has not shown up for an entire year, and they were withdrawing 350 a month, the client could be dead for all we know, but the moment the client shows up, the bank should reimburse the client with the deducted amounts and the accumulated interest. Maybe it was the only free time the client had to visit his bank.
Banks in the Philippines have a responsibility to their clients, and their main job is also to serve, not serve themselves and not rob their clients.
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