Stupid Banking System
Posted by vampire at 11:37 AM on May 17, 2006.
In M'sia, I feel that the banking system sux. How to be a developed nation with this kinda system?1) To transfer money from one bank to another (inter-bank transfer), we are charged Rm2, if I'm not mistaken. And the money goes floating around for about 2-3 days.
2) Where you open your bank account does matter! Let's say I open an account in Maybank in KL. Anyone not in KL who wants to deposit money to my account over the counter is charged 50 cents. This is quite a lot of money if so many people over Malaysia makes this transaction daily.
3) The ATMs and Cash Deposit Machines(CDMs) are often out of service. Today, I went to the bank. CDM is not working well, rejects almost all of my notes. I was prompted to go deposit over the counter. Well, referring to item (2), I was charged Rm0.50, and wasted some time queuing, because of a lousy machine.
4) Maybank does not provide enough CDMs, or they place it in a stupid location, which is inside the bank (one example: Jln Tengah, Penang), which will be closed to the public after office hours. Stupid stupid.
5) Hong Leong Bank does not provide 24-hour service. ATMs and Hong Leong Online closes at midnight.
6) Banks in Malaysia only opens Monday to Friday. How to expect ppl to get something done during office hours, without sacrificing lunch time, when the queue is super long?
7) Maybank ATMs provide a function to change the withdrawal limit on the spot!! IC Number is required though. Let's say someone steals your wallet, or points a knife at you, and directs you to this ATM. Your money will almost all be gone, after changing the limit. Stupid eh?
8) A couple of years back, I used my Hong Leong ATM card in a Maybank ATM. Due to the lousy ATM machine, the mechanical flip did not open, and my card was retained by the machine. The card is gone forever, as Maybank has claimed to have sent the card to Hong Leong Bank, but Hong Leong Bank claimed they did not receive it. I had to pay Rm12 to report my card loss, and another sum to have a new one made.
There's so much more flaws. I'm sure everyone experiences it here.