Do You Own Your Bank Account? Or The Funds In Your Bank Account? Part 2.

in LeoFinance3 months ago

Two days ago a post about my bank story, about what happened to me. Fort those of you who missed my post, here's the story in a few words.

Last week I got a text from the bank, saying my debit card was blocked and was asked to go to the nearest bank unit, which I did on Monday morning. I was told I no longer hold a bank account and after some investigation I was told my bank account has been closed, terminated because I've failed to do the personal data verification. I need to mention that I have not been notified, I only go a last notification, when it was too late already.

Image by MasterTux from Pixabay

I've had around $150 in my account, so I asked for my money back, but after 10 minutes of thinking, reading emails and directives, consulting with the boss, the lady had no clue how to refund my money, so she told me to go home and promised to call.

It's been 48 hours and obviously I got no call from the bank, so this morning I decided to pay them another visit. In these 48 hours I had time to figure out things and make a decision, which was to choose another bank for this purpose. This account was not my main, I've been only using it for PayPal occasionally, but still need it.

Before trying to collect my money, first I went to the new bank I decided to use and asked for an account. In 10 minutes I had my account, the app on my phone, contract signed, everything sorted and all they needed was my ID and phone number. My debit card will be ready in 3 or 4 days, estimating Monday.

After I got my new account, I went to the old bank to try and get my money back. I walked past the front desk as I knew the lady can't help me and went to the back office. The lady started to smile when she saw me. I asked her if she remembers me, she said of course, they don't forget clients so easily. Should have asked her why didn't she call but wanted to get that over with and get out of there.

So I gave her my ID, she asked me what do I need the account for as she saw I had cross border payments. I told her I don't need an account, I just want my money and get out of here.

The whole process took her 15 minutes. She started alone, then she called someone on the phone, started complaining about how many instructions they get by email, and that is confusing. So after like 5 minutes on the phone, she gave some instructions to the front desk and somehow after 15 minutes I got my money. Has to pay $2.5 for cash withdrawal as my transaction was qualified non client withdrawal.

An this is how they are losing clients, I really don't understand the logic. Banks are living on clients money, the more the merrier and the competition nowadays is fierce. New banks, new products are surfacing every day. You adapt or die, there's no other option here.

The way you treat clients defines your future. Banks are losing ground with all the cryptocurrency madness. Digital currency will also affect their future, so every client, every penny counts.

What they did with me was a huge mistake, abuse if you like and I'm not the only one. I'm just glad it's over, I got my money back and could start a journey with another bank, that is already offering me more than the old bank.

Do You Own Your Bank Account?

No, you don't, the bank own it, you are just using it if you promise to play nice and do what they tell you to do.

Do You Own The Funds In Your Bank Account?

Till one point you do. Banks can take away your funds, like they did mine, taxman can take away your money, or block your account if you owe then.

Posted Using LeoFinance Beta


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