• Fri
  • Apr 18, 2014
  • Updated: 8:40am

Good customer's bad experience

PUBLISHED : Saturday, 04 September, 1993, 12:00am
UPDATED : Saturday, 04 September, 1993, 12:00am

THE story of banking atrocities grows daily.


My bank (Standard Chartered) kindly appends to my monthly statements the remark that, as a reward for my maintaining an adequate total of balances over the past month, it will not bounce my cheques up to a stated value - a nice protection to give to a good customer you might think.


But should one inadvertently utilise this facility, a whopping eight per cent over prime is charged on the amount of overdraft taken - far in excess of what a good customer could negotiate if he asked for an overdraft.


To make matters worse the ''good'' customer does not receive a phone call, as he used to, reminding him to pay money into his account so as to avoid charges - doubtless the ''bad'' customer is so warned.


To add insult to injury the bank then wastes part of the income it has pirated by writing a letter to its victim thanking him for using its ''cheque protection service''.


The sooner the riffraff of the PLA start opening accounts in Hong Kong banks the better, I suggest.


D. A. ROOTS Discovery Bay

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