Do you allow banks to bully you?

Singapore
July 17, 2007 11:06am CST
B: Get down on your knees and beg me! C: No... please don't... B: You don't have a choice, I am the BIG BULLY recognized by LAW! C: Please don't bully me... B: Too bad, little one, I am going to bleed you dry! Does that sound familiar? I bet it doesn't LOL. But if I tell you that the "B" stands for "Bank" and that the "C" stands for "Customer", would that ring a bell? Most of us should have had some experience dealing with banks. Recently, they made me so mad that I almost had a heart attack. What happened was that Standard Chartered terminated my checking account without informing me at all. It was a good thing that I found out about it before I wrote the cheque. Because of the strain they put on my blood pressure, I just could not take it lying down. I complained to the authorities and the matter was finally resolved. I got my account reinstated ultimately even though the staff over the phone initially insisted that it wasn't possible. If you are curious about what happened, I have placed a detailed account on my blog. You can read part 1 at http://tinyurl.com/3a4q96 and part 2 at http://tinyurl.com/2szbp6 . So, do you typically allow banks to bully you? For instance, you would take whatever fee/charge they slap on you without complaint? Or would you demand your way to get what you believe is right? Or have you never had problems with your banks at all? Or... ? Do share your thoughts. :-) PS.: I have some offers that will get you US$65. Please pm or contact me at http://www.contactify.com/10324 if you are interested. This is NOT a scam. :P
18 people like this
45 responses
@charms88 (7543)
• Philippines
17 Jul 07
Oh baby, you already know about my HSBC matter. I actually have a recent problem with my credit card. Before availing of the new credit card, the sales agent told me my membership fee will be waived the first year. My billing statement arrived and I was flabbergasted to see that I was charged with membership fee. I called up the customer service to complain. The person-in charge was quick to remove the membership fee. The following month, the membership fee was again reflected on my statement and again, I talked with the customer service and the same process took place. Still, it kept appearing for the next 3 months. It was not until I requested cancellation of my credit card did they stopped issuing me a membership fee.
• Singapore
17 Jul 07
Oh yes, that is just so ridiculous... I have had problems with such persistent charges too. I have had quite a variety of experience with banks - both for myself and on behalf of others - and most left me sick to the stomach.
4 people like this
@gabs8513 (48715)
• United Kingdom
17 Jul 07
That is who I am having Problem with HSBC and they are the worse bank to bank with
4 people like this
• Singapore
17 Jul 07
I know they have the highest fees over here.. but they are the worst banks? Really?
4 people like this
@weemam (13377)
17 Jul 07
No pal I don't lol , I am not employed now so no wages to go into the bank , My bank is mainly used for paying bills , I do that online so there is no one to annoy me lol , I wish you more pleasant tellers in the future my friend xxxx
4 people like this
• Singapore
17 Jul 07
Still, you are dealing with banks.:P
4 people like this
@weemam (13377)
17 Jul 07
yes but I don't have to talk to anyone lol xx
4 people like this
• Singapore
17 Jul 07
Fine lol :P
3 people like this
@Willowlady (10666)
• United States
17 Jul 07
I do not stand for anything less than service from my bank. If they get too big for their britches then I take my money and go elsewhere. I also talk to all my friends and acquaintances about them and whoa.. I find that many of them do not deal with them anymore. So if the banks want my money then they treat me well, explaining and notifying me. I love my current banker. The day after our fire I called and she took care of everything. I went in the next day and got my replacement banks books. Up to date balances and everything. My hubby and his bank did their thing in person and he had to wait 10 days to get access to his accounts. Your offers are good ones and I hope others can take advantage of them. I did not have the time to take them on however, I would have if I could manage more. Thanks for offering them to me yesterday. Good luck with them.
4 people like this
• Singapore
17 Jul 07
You sound like a big customers. The banks here don't really care about small customers. They think we are just wasting their time and resources.
4 people like this
@Willowlady (10666)
• United States
17 Jul 07
Then they are lazy, I would much prefer to have many small customers that may make up a larger monetary base. My bank could stand if I lost one or two of those. Would not wish any business to be reliant on one or two customers. Just not safe.
4 people like this
• Singapore
17 Jul 07
Actually, I would think some big customers overwhelm many puny customers in terms of money amount. Beats me really.:P
4 people like this
@tmlnmr (1850)
• Canada
17 Jul 07
Hey wizard, Nope never do. I always keep in mind that they 'work' for me in a sense. I feel that we customers are the reason they are still up and running. I don't beg for nothing with banks and I don't let them have a 'I'm all powerful' attitude either with me. :)
4 people like this
• Singapore
17 Jul 07
Cool. I OWN the banks.
4 people like this
@tmlnmr (1850)
• Canada
17 Jul 07
Ya sort of anyway. Not that you get any profits or anything but they would be nothing without us! :)
4 people like this
@gberlin (3836)
17 Jul 07
I do not have any problem with banks. I have been able to secure loans and lines of credit without any problem. I have never had them close my checking account or savings account.
4 people like this
• Singapore
17 Jul 07
That's good to hear.:)
3 people like this
@meme0907 (3481)
• United States
17 Jul 07
Hey lw, I hate banks they are for rich ppl if you ask me but w/ all the auto payments required these days it's nearly impossible to survive w/o one.I don't take the fees lying down if I feel like the bank is ripping me off I call & get the fee waived but if it was my own error I just pay the fee & be pissed b/c I feel like the bank juggles my money to see if my account will go low enough so I'll make a debit purchase or something to cause an over draft.If I didn't need the services of a bank I definetely would not use one. +'s |:)
4 people like this
• Singapore
17 Jul 07
Banks *are* useful so we can't do without them... unfortunately.
3 people like this
@gabs8513 (48715)
• United Kingdom
17 Jul 07
Yes I do let Banks bully me and I always have done actually I have given up fighting them as they are always "right" anyway I will contact you
4 people like this
• Singapore
17 Jul 07
Oh naturally.. big bullies are always "right".. *sniff*
4 people like this
@mfpsassy (2827)
• United States
17 Jul 07
That is why I deal with Credit Unions. Publicly owned and no bullsh?? If they screw up they pay you. Bad for bussiness. Especially since most credit unions share thier names with local big name companies, whose employees tend to bank with them. I would have asked them for all your divedends, cash rewards and whatever change you had left in that account. Then I would have told them that you will be telling everyone to avoid them. In person, online, by phone, and my snail mail if you have too. (If you can) stand outside the bank and protest them. They really hate that.
4 people like this
• Singapore
17 Jul 07
Singapore is a relatively small market for banks. There is big money to be made here but they are more the super duper rich bigshots and banks have special services for them. What the credit unions offer here are not really attractive. Besides, I don't think publicly owned or privately held has anything to do with good customer service. Anyway, the banks here are all listed companies.
3 people like this
@whyaskq (7532)
• Singapore
17 Jul 07
What did you do that you got your account reinstated when it could not be done initially? You bully the CEO? :p I do not allow myself to end up in the scenario illustrated above. I am somebody but not a big body, so I am in no position to bully them but I can take position not to be bullied. If I feel that there are other better benefits from other banks, I have no qualms bank hopping. I am no loyal customer where money is concern.
4 people like this
• Singapore
17 Jul 07
I lodged a complaint with the Monetary Authority of Singapore and they got the bank to contact me. They contacted me, apologized, then reinstated the account for me. The CEO probably wouldn't waste time talking to a small fry like me. But it's alright. One day I will see him licking my toes.
3 people like this
@angelicEmu (1311)
17 Jul 07
No I don't! Banks in the UK are, I'm led to believe, some of the worst in the world. Whenever I've had a dispute with my bank, I've had one of two responses, depending on whether the media have exposed bad practice with regards the area they've made an error in. 1. If this problem hasn't been exposed, and banks named and shamed recently, I've had to go through the complaints process (on one occasion twice, totalling about 3 months to return my monies to me), my bank refusing to communicate with me on the dates they stipulated, my bank telling me they're not to blame, and trying to re-direct my complaint elsewhere, in the meantime my incurring further debt with insufficient funds in my account to pay my bills AND put food on the table. My complaint to the authorities basically receiving the same response from them as the bank gave me. It's like banging your head against a brick wall, unless you're making six-figure sums at work!! 2. If this problem area has been covered by the media, one phone call to customer services is enough for them to rectify the problem instantly, AND apologise. Anything to avoid their "good name" being tarnished publically in an area they know the media will be interested in. Basically, if the media aren't interested, your bank can do what the hell they like. You're there for their benefit - they make huge sums off the money of their customers, then act as though they're doing you a huge favour by "looking after" your money. Money is power, even if it's someone else's. Authorities and Ombudsmen need to be chosen more carefully, as at the moment they appear to be part of the banking establishment, and more interested in maintaining the status quo than looking out for the customers and being impartial (their very purpose - or perhaps that's naiive of me). That's capitalism for you though mate!
3 people like this
• Singapore
17 Jul 07
tsk tsk - You are in the running for best response!
Geez, banks in UK are that bad? :( And that's why some say that he who controls the media controls the world.
3 people like this
18 Jul 07
Yes they are, and that's very true. I have to say that the media tend to be rather fickle about which stories and scandalous practices by banks/local government they will publicise. Not only do they have way too much influence over the general accepting populus, but politicians/companies care far too much about what they think and say. The media have no scruples and refuse to take responsibility (the freedom of the press, like all freedoms, comes with responsibility, as unpopular as that concept is nowadays) for their errors/spin/downright fraudulent practice. But until there's some kind of regulatory organisation for the media, that's the way it is!
1 person likes this
• Singapore
18 Jul 07
So it is basically he who controls the information flow controls the world.:P
1 person likes this
@jillmalitz (5132)
• United States
19 Jul 07
We have not had a bank account in more than 8 years. The fees and the ways that they handled our money made it too hard to keep money in the bank. It ending up costing us more money than we had. We dont really miss it other than the fact that we can not get a credit card or have any money direct deposited or earn any interest.
2 people like this
• Singapore
19 Jul 07
That's crazy then!
1 person likes this
• India
19 Jul 07
nah, i mostly tyr to get into close relations with any of the bank managers that get transfered to my bank so usually this problem is bypassed. So untill now this kind of a problem hasn't happened to me, and i hope it won't because i very well hate things like this. It's mostly done by big companies, because they usually have the legal power to get out of any thing with minimum scars.
2 people like this
• Singapore
19 Jul 07
You must be rich.:P
1 person likes this
@pendragon (3354)
• United States
18 Jul 07
This is where knowledge equals power, you need to learn your states credit laws and protect yourself because certainly no one else is going to.
2 people like this
• Singapore
19 Jul 07
Probably...
1 person likes this
@ladyluna (7004)
• United States
17 Jul 07
Hello Lordwarwizard, I genuinely believe that banks (and other big businesses) use this aggravation tactic to get over on people. It's almost as if the rule of the day is to scam people, then give in IF the customer takes them to task. No, I do not allow businesses to bully me. If there is a problem, I'm on the phone immediately. I do not diddle around with underlings -- my goal is immediate resolution, so I always speak with management. And, I have never, ever not had an issue resolved through firm, logical communication. One has to be willing to go to the matt over these types of issues, which I am. If a business really tries to yank my chain (i.e. is being completely unreasonable), I will put them on hold, and conference them into the state attorney general, whose office I will dial while the offending business is on hold. I can share with you that a number of people have suddenly sounded very shaky when they find that they're conferenced in with the State A.G. When all else fails, this move tends to produce very rapid resolutions. I always make a point of being nice, until someone starts to play games, then it's off with the gloves, and no quarter. It really bothers me to have to be this way, but I believe myself to be a valuable customer. Meaning that I always pay my bills on time, don't ask for special favors, etc... And so, I expect a little respect when a problem arises. Yet, respect seems to be sorely lacking in the business environment of today's world.
3 people like this
• Singapore
17 Jul 07
Guess things are a bit different here. I once asked to be put through to the higher management (just a bit higher than the puny staff) and that guy was so scary. He tried to intercept it and wants to take care of things himself. I finally asked him to shut the crap (many times) before he gave me an address where I can write in to complain. I am such a gentle soul. Can't intimidate people. Always get bullied. *sniff*
2 people like this
@Amstardam (1348)
• United States
17 Jul 07
No way! Everytime they try to stick with me some new overdraft fee or whatever fee they want to apply, I threathen to sue and get my money back. They've given me my stolen funds back everytime. I call them on the crap they try to pull! I have found so many errors in my bank account from them! I've learned to check every transaction just in case they screw up again. Oh yeah, my bank is US Bank. I would never tell anyone to bank with them except for the fact that you can easily get your money back!
3 people like this
• Singapore
18 Jul 07
Oh gosh.. stealing money! Glad you managed to get it resolved..
• India
17 Jul 07
O Hi Wizzy someone making rising your blood pressure you should have spilt some of their blood if you ask me :) LOL iam not a very violent person by nature but i KNOW banks can bring out the beast in EVERYONE. i think they live on another planet where they make and break their own rules as they wish :) I once had my account terminated because my company changed their name! it was my salary account ofcourse and then me my HR and the bank had some kind of stupid process where everything seemed pointless to me anyway they 'demanded' some kind of proof from the company which they provided and i had to prove iam me! and they got the account activated after showing us a little more of their stupidity and pointless rules! anyway i from what i have written iam sure you can make out iam almost allergic to banks but we cant do without them. I wonder how people actually get to work for a bank. Maybe there is a 'stupidity' test or something :) anyway iam glad your bank ordeal got solved in a ok manner take care and happy mylotting :)
• Singapore
18 Jul 07
Geez, what a bad experience you've had! Glad it got sorted out too. :)
@ahgong (10066)
• Singapore
17 Jul 07
wow! you really showed them eh? Way to go dude! I have yet to get such problems with banks yet. But I will bookmark your blog entries for reference should I get into one someday. heh heh... GSM here will only be truly seen after complaints are made. Sad... isn't it?
• Singapore
17 Jul 07
Yea, that's what I did lol. As least GSM is not a flowerpot. :P
2 people like this
@liyan97 (2128)
• Northern Mariana Islands
17 Jul 07
Yes, bank does bully me over and over again! I have a savings account where I allow them to allot my car payments, that way I am always on time. I received my scholarship from school and I decided that I would pay my car in advance, walked in and spoke with my “bank” before I made a three month advance payment, they agreed and assured me that my savings would not be withdrawn from for the three month period. I was happy, after all, I already blew my scholarship but I would still have my two weeks pay in the bank or so I assumed. I went to the ATM a week latter to withdraw funds to pay for my son’s private school, needless to say my balance was less than $200.00. I went home and called the bank right away, I couldn’t believe it they had allotted my car payment thru my savings, even after I had spoken with them! I asked them how it could happen, how I am supposed to provide for my family, if they have taken my money. They simply replied that it was a mistake, assured me that they would fix the problem and that it wouldn’t happen again! I wanted to stop my allotment because I was afraid that they would continue to take from my saving through out the three month period but they assured me that it would be taken care of and apologized that they couldn’t do anything to return my money. Needless to say I went through another payday left with less than $200.00 in my account because they allotted my account again! I was so mad! If it weren’t for my car payments I would withdraw my money and search for a better bank, but at this point I don’t have a choice. I have screamed, moaned and complained my lung out! I have given up and decided not to pay me car bill in advance anymore.
• Singapore
18 Jul 07
tsk tsk - You are in the running for best response!
That bank is atrocious simply. How can they make a mistake like this? And how did they compensate you? Oh I am sorry. See you next time. That's it? Bleh!
1 person likes this
@liyan97 (2128)
• Northern Mariana Islands
18 Jul 07
They never did compensate me, they said that they can’t and I just lie down and take it, I really don’t have the energy to deal with it.......
1 person likes this
• Singapore
18 Jul 07
It just doesn't feel right. They SHOULD compensate us for the trouble.
@agnescav (566)
• United States
22 Jul 07
I had the most horrendous experience with a bank (I did owe them money)and i called and made arrangements to pay a portion of it and they agreed. So on Saturday when you can't get in touch with them anyway, i thought the agreement was in force, I made a withdrawal of $60 from an ATM and my balance was negative 665 dollars! I spent half Monday at work on the phone with them. Again they agreed to the payment schedule. The next payday (I had direct deposit), all my money was gone again. Luckily, the Gallup Poll people had called me and asked about their customer service. I had to keep after them for doing this for about another month until my direct deposit went into another account I set up at ano ther bank. But one time I was on the phone with this lady and told her to put my money back and she said she couldn't. I told her I'm not stupid. You are in charge of this matter. Put my money back While I was on hold with her on my cell phone, i called and filed a customer service complaint about someone else in that department. When she said she would put the money back by 1:00, I told her get someone else on the phone and gave her a list of people I had talked to in her department, get one of them or anybody. So she did and i told her to say,now, that my money would be back. And she did. I asked the other lady did she hear that. And the money was back in 20 minutes. I was really ticked off. If I was trying to get out of paying it, I would have stopped the direct deposit and gone back to checking mypaychecks at the check cashing agency. Anyway, the collection agency just called. I only have to pay 225 (75 a month for three months) instead of the whole 350. And I got another account open before they could put me in check systems, where you can't open an account anywhere in the country until you pay them off.!
• Singapore
22 Jul 07
Awful... That's why it's useful to have accounts at more than 1 bank in case anything goes wrong somewhere and you need a bank account - like for your salary.
1 person likes this
@marciascott (25555)
• United States
20 Jul 07
Banks will try to bully you, they are always trying to take your money, not only that they make money off your money, that is why I think people should invest in stocks instead of the bank, if your money is gone you won't feel bad because it is your fault. if the bank takes it, you cannot do anything about it, they treat your money like it is theirs, I hate the banks because they have took, so much money from me. you just half to be carleful and watch what you spend. I think it is better for peple to put their money in a safety deposit box.
2 people like this
• Singapore
20 Jul 07
Oh.
1 person likes this