Tuesday, December 14, 2004
The system works
The recent move of Bank Negara has been lauded by many parties that the Central Bank has finally has decided to collocate with the consumers. Banks have been imposing these “hidden charges” to trap consumers. With Bank Negara’s move to consolidate the banking industry, consumers have been reduced for choice as on limited no of competition is left. The trend was unsettling, as when one bank imposes new charges, the rest just follows. “If he can do it, why not me” mentally started to sprout.
But now all is good. Hopefully. This also reminds of a story between me and bank and my attempt to stop this atrocious behavior.
During the height of ATM card identity theft, commercial banks have decided to change all existing ATM cards to those chip-based cards. So basically everyone was forced to change to this new type of card. I approached the customer service to get my card replaced. After a brief chat, I was filling in all necessary details regarding the change. I was done, and the officer asked me “Would like to pay my cash, or just debit your account?” I was puzzled. Pay for what I asked. She happily told me its for the new card. I told her I didn’t ask for a new card, the bank forced me to change. Then she told me, its for your own security, it has better features. I asked her again, it’s the bank problem that there are lapse in the security system, and as far as the features go, the chip has nothing to do what the ATM can offer. She was stunned as obviously no one had challenged them for this charge. She had no answers to my questions. After an awkward moment, she replied “if you are not happy with the charges, then you can cancel the ATM card”. Then I thought, I am screwed. I cannot live without my ATM card. I have no luxury to queue in the bank for every withdrawal. Damn, whoever said “Customer is King” never met this people. I without choice had to accept the charges and curse the bank on my way home.
But now all is good. Hopefully. This also reminds of a story between me and bank and my attempt to stop this atrocious behavior.
During the height of ATM card identity theft, commercial banks have decided to change all existing ATM cards to those chip-based cards. So basically everyone was forced to change to this new type of card. I approached the customer service to get my card replaced. After a brief chat, I was filling in all necessary details regarding the change. I was done, and the officer asked me “Would like to pay my cash, or just debit your account?” I was puzzled. Pay for what I asked. She happily told me its for the new card. I told her I didn’t ask for a new card, the bank forced me to change. Then she told me, its for your own security, it has better features. I asked her again, it’s the bank problem that there are lapse in the security system, and as far as the features go, the chip has nothing to do what the ATM can offer. She was stunned as obviously no one had challenged them for this charge. She had no answers to my questions. After an awkward moment, she replied “if you are not happy with the charges, then you can cancel the ATM card”. Then I thought, I am screwed. I cannot live without my ATM card. I have no luxury to queue in the bank for every withdrawal. Damn, whoever said “Customer is King” never met this people. I without choice had to accept the charges and curse the bank on my way home.
BJ 5:01 PM