Banks are placing their customers’ needs a distant second to their drive to cut costs
06 December 2021 - 16:35
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I have a small business in Rondebosch, Cape Town, and have become frustrated with the manner in which banks treat their customers. We have dealings with branches of two different banks, but the problems appear endemic to both.
I am aware that banks are having to change their business models as technology advances and competition increases, but they are placing their customers’ needs a distant second versus their drive to cut costs.
Both banks have recently ceased to provide a teller service. The problem of where a retail-type business is now supposed to obtain change for the tills appears not to have been addressed. This must have implications for thousands of small businesses throughout the country.
The banks have substituted ATMs for face-to-face contact, which is fine in theory but the ATMs are regularly out of order, so cash takings build up, resulting in an increased risk of theft.
One of the banks took it upon itself to change the internet banking log-in protocols, and one is now unable to access the service. The system was working perfectly the previous day. I went to the local branch only to find four other customers with the same problem.
The bank’s staff were unable to get through to their own “helpline”, presumably because thousands of others in SA are experiencing the same log-in problem. I left the bank after sitting around for 30 minutes as it appeared the problems were not going to be resolved any time soon.
The banks increase their fees annually like clockwork and spend thousands of rand in advertising, but are unable to provide a basic service. What a warped perception of the services required by their customers.
Derek Pryce Via email
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: Banks are no help to small business
Banks are placing their customers’ needs a distant second to their drive to cut costs
I have a small business in Rondebosch, Cape Town, and have become frustrated with the manner in which banks treat their customers. We have dealings with branches of two different banks, but the problems appear endemic to both.
I am aware that banks are having to change their business models as technology advances and competition increases, but they are placing their customers’ needs a distant second versus their drive to cut costs.
Both banks have recently ceased to provide a teller service. The problem of where a retail-type business is now supposed to obtain change for the tills appears not to have been addressed. This must have implications for thousands of small businesses throughout the country.
The banks have substituted ATMs for face-to-face contact, which is fine in theory but the ATMs are regularly out of order, so cash takings build up, resulting in an increased risk of theft.
One of the banks took it upon itself to change the internet banking log-in protocols, and one is now unable to access the service. The system was working perfectly the previous day. I went to the local branch only to find four other customers with the same problem.
The bank’s staff were unable to get through to their own “helpline”, presumably because thousands of others in SA are experiencing the same log-in problem. I left the bank after sitting around for 30 minutes as it appeared the problems were not going to be resolved any time soon.
The banks increase their fees annually like clockwork and spend thousands of rand in advertising, but are unable to provide a basic service. What a warped perception of the services required by their customers.
Derek Pryce
Via email
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
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