They charge you even for check deposit?!
Posted by: Roy in banking, customer service, feedback & reviews, management, tags: banco de oro, bank, BDO, customer service, greed, policy, poor, SC, service charge, sm, Sy, teller, tycoon
I never thought I could have some complain… after all I was satisfied with the service so far. Save for the long waiting time (even in a very short line), their customer relations is commendable. Until one time I deposited a check intended for another branch’s account.
It used to be that I deposit cash when I have to pay suppliers with BDO account in other branches. And because I’m depositing cash I pay for service charge since this is an interbranch deposit. Being a former banker, I can understand that. Cash carried by the branches in their vaults carries costs for insurance, hence additional cash could cost additional insurance.
So to solve this additional cost on my part, I decided to deposit check for my payments to suppliers with BDO accounts in other branches. Since this doesn’t cover insurance and all the branch do is credit them to the client’s account and send them out for clearing, hence there will be no interbranch service charge, right? WRONG! Lo and behold! I was surprised when the Teller asked me what branch am I depositing for, and when I told her the branch she told me that there is a service charge of P50.00! I asked her why, she told that it’s their policy. And as if a consolation for me, she told me that the P50.00 SC is for any amount of check, unlike the SC for cash deposited which is relative to the amount of cash.
WHY?! Why the service charge?! Aren’t the Sy’s earning enough yet? Why do they have to charge you for check deposit? I can’t see the logic on that! This is the first time that I encountered a bank charging clients for check deposits! Is this another one of the tycoon’s income generating activities? (Remember, they charge for your being loyal to SM) Or I have just encountered a misinformed bank teller. Either way, both are really bad management.
I wonder what other charges I would be encountering on my next transactions.
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I sent them this email…..hrmd@bdo.com.ph, callcenter@bdo.com.ph, “irandcorplan@bdo.com.ph” ….I wonder if they will take action….
The Manager
Human Resource Division
Banco De Oro
Dear Sir/Madam,
Good Day! With all due respect your Assistant Manager in the name of Zenia Perez, assigned in your Banco De Oro, Intramuros Branch, #3 Magallanes Drive needs an Interpersonal Relationship Seminar. Mrs. Perez is very sarcastic when I inquired on a cleared MC, in fact she doesn’t even know that MC’s are monitored through outstanding MC’s and MC’s cleared. She erroneously answered at first that the MC’s doesn’t go back to the issuing branch (overheard from telephone), in the end she refused other means to verify the MC numbers and would like to have the application faxed. She’s making life difficult for clients, I am right now in my office in a meeting and doesn’t have the application but I have here the details of the MC. Why not just look through your computer and have the MC verified. We just wanted to know if the MCs we purchased were already negotiated. I don’t think there are other particulars in the MCs she needs when we are willing to give out the date, amount, and payee, which is an embassy. I hope you’ll find time to deal with this kind of behavior. I am a depositor in your bank. My first cousin also works in Equitable PCIB. I don’t know what she’s thinking or just plain ignorance and I see no reason that exposes the bank to losses. I am also a banker. She told me that the Cashier is in charge with balancing of MCs which is a plain lie, usually new accounts staff handles the MC issuance and accounting of those issued and cleared.
Thank you very much and hoping for your prompt action.
Concerned BDO Client
I can sense at the start of your letter that you are also a banker. I hope something comes out of your action. Was that really an assistant manager you were talking to? She’s a total ignoramus on the MC by the way she talks. She could have just referred you to the new accounts clerk who is sure to be more knowledgeable.
Thank you very much for dropping by my blog!