My Experiences with Local Banks

I just want to share some of my experiences with the banks I transact with. Recently, one bank has managed to test my patience and I got to blurt out my frustrations in Facebook. That's how I found out that some of my friends are just as frustrated as I am with the said bank. My disappointment is not baseless after all. I would be glad to hear your experiences too, so we know which to avoid next time, hehehe.

Land Bank of the Philippines

- Personally, I will not choose this bank, me transacting with them is a matter of necessity and not of choice. I had to open a dollar account here because my mom finds it easier to send money through this bank from the States. Pros: I do not have to fall in line when I withdraw. I just give my ID for verification and wait for them to call my name, and I am done. Obviously, they prioritize such accounts. Also, they have branches in the rural areas which is why I send money to the province through this bank. Cons: Sometimes they run out of dollars and that's when you really wait until they can finish your request. And I am not allowed to withdraw from my dollar account from other branches, only at the branch where I opened my account. Third, I was once told by a guard to stay outside because, like some box-office hit movie, the inside of the bank is at full capacity - standing room only! How can't it be when their offices are so small? They really should improve on this. Depositors should be accommodated with a decent seat at least. Plus, their clients' safety and security are at risk outside of the establishment.

HSBC

- Having over 10,000 offices in 85 countries, I had high expectations from this bank. But heck, customer service is so poor. Or is this a local problem? If so, they really need to improve on this. I even dared them to give me an evaluation form so that I can give them an assessment for their own good - every organization needs that. There are transactions in other banks which can be done over the phone. This bank requires forms to be filled up and sent through fax/email (talk about banking online, duh). Twice, my fax have gotten lost. And what do they do? They asked me instead to dictate the data needed on the phone and they will process my application/transaction through that. Another, duh! Corresponding with them by email is also a pain. I really wonder what kind of clock or time system they use because even if they have declared that my email will be answered in two banking days, it usually takes five, sometimes I even have to follow it up for them to remember. Actually, I still have one open case with them from last month. What a really messy system! But hey, their collection department isn't going to disappoint you. Be sure to have no less than 5 missed calls in a day. **shakes head**

Bank of the Philippine Island

- This is my first bank, and up to now I have accounts with them. Pros: Sending money to other BPI accounts has no charge. I hope other banks would follow suit. Second, I believe they have the most number of atm machines where deposits are also allowed (although not all machines have this). Third, most transactions can be done online or through the phone. No hassle at all, very convenient. Not to mention that they have express centers that are open on weekends. Cons: Nothing really. I just wish that I can transact with BPI Family bank through them.

Chinabank

- I just opened an account here so there isn't much to say. I did make a withdrawal a couple of months ago which was over-charged but it only took a single call to their office and it was credited back. There wasn't even a need for me to follow it up since they personally called me to inform me of the reversal. Now, that is what I call customer service. 

Of course, no bank is perfect. We just have to choose which one addresses our needs in the most convenient way. But we are depositors, and these banks are actually earning from us. So maybe it isn't much to ask for a good and cordial service. At this day and age, people will always prefer a bank that can offer convenience. Gone are the times when we have to fall in long lines or take a day off from work to be able to make transactions at the bank by 3pm. I see a few banks gearing for those good developments, and these banks do get a number of depositors because of this. Time for the others to follow their lead.