What has been your worst experience with any banking institution

Phabbyfundz

Active member
Banks have been of really great benefits to the society since when it started operation in the world. And I believe everyone I today's would have had an encounter with a banking institution of even owns a bank account as the case maybe.
As saving money in banks is really reliable there have also been some short falls in the mode of operation of so many banks in existence today. What would you say has been your worst experience with this banking institution and would you in recent future still want to continue operating with a bank or would like for there to an innovation in the banking system in their policies and mode of operation. And you recommend your bank to anyone to bank with them ,or you would advice anyone who wants your advice against your choice for a good banking institution.
 

btaliat

VIP Contributor
The only experience I have with banking these days is that I think they ard divulging too much secret to some set of people. There are some people that do call and pretend to be banks workers, it would amaze you how they will be giving out your information off hand and they are scammers.
 

Ummigal

Active member
My worst experience came not long ago from when I opened an account with them. I opened an account with them and a week later I went for my ATM. After several hours of queuing up with those who came for the same reasons it was my turn and I was told that my photo didn't appear whereas I gave the two passports. Till today they haven't still given me my ATM card.
 

btaliat

VIP Contributor
Banking sector in my country really needs reformation. There are some incessant deduction of money unnecessarily. At times, the reasons for for the deduction may not even be stated. At times, if stated, it will be flimsy reasons they don't need to be deducting money for. I think they need to be curtailed.
 

Alexandoy

VIP Contributor
I have more than 10 years of work experience with a commercial bank. My wife is at present working in the biggest bank here. It is obvious that we have no issue with banks and with the banking system here that the public can rely and trust. Banks lose the trust of the public when the government is full of corruption. Fortunately our central bank is clean.
 

Sotherefore

VIP Contributor
Well I never had any bad experience with bank, sometimes most banks do not offer the best customer service and they do not respect their customers which is not even the best option. Unnecessary reduction of money is very rampant and some security system of Most bank are not really strong that is why a lot of people's money ve been withdrawn.
 

Bookwormlux

Valued Contributor
@btaliat that is so true and I really wonder why the banks go this extent of making the customer's information to leak and get into the hands of scammers. Imagine a scammer who knows everything about you, name , age, sex, etc. It does not make sense in any way and I just wish that they would be able to come up with something more tangible than they are doing right now. It is actually painful seriously.

Sometimes I am forced to believe that it is the same bank officials that usually do those calls and you would be thinking it is some scammers. This is because these information are too personal for these scammers to just get access to them and I do not want to believe that the banking sector does not have that much security at all for them to be able to leak personal information that easily, or for these scammers to have access to their database.

This is why it is also good for customers to know how to be security conscious because in cases like this, the banks won't even want to listen to you t all, since they want to exonerate their employees . It's this bad.
 

Kendy

Verified member
I have encountered so many negative experiences with banking institution. Most banking institutions are just leveraging on the intelligence of their customers. My savings get deducted at odd times and without a debit alert to the effect. When I call their customer care service, all they do is apologize without refunding the money because they will definitely find an excuse to give. The worst experience I had which broke the camel's back was when there was a decree of government stamp duty charges but the banks took the opportunity to deduct frequently customers money and this was during the time of covid-19 pandemic. The financial institution I bank with, had made some donations to the federal government and we presumed this was the reason for the constant slash of our money. In a space of six hours interval, I was debited more than six times, and I thought it was only me, when I went to their online platform so many customers kept having the same complaint. The law was only meant for an inflow of a certain amount of money but in this case, whether you made a transaction or not, they kept deducting money aggressively. This just shows that the banks do not even care about their customers welfare, even when they give some interests, they would still turn around and remove it.
 

Bookwormlux

Valued Contributor
My worst banking experience is in the fact that most Nigerian Banks find it difficult to make it easy for individuals to be able to retrieve their money from scammers .

This situation has continued to linger for long and they have already provided suitable environment for scammers to operate freely without ever getting caught .

The situation has continued to make a lot of people lose high amount of money everyday and the banks have not been able to do anything to solve this issue yet .

I just hope that we will see a final solution with them being able to restrict scammers accounts and deal with them accordingly, anytime they are reported .

It has become obvious to a lot of citizens that the government is also a contributing factor to why we have a lot of scammers out there who are operating easily without fear of getting caught, because they know that the government has not putting appropriate regulatory measures that limit their activities .

There's also the issue of excess transaction fees that different banks are charging these days .

It is just so unfortunate, because there are some countries where people are not paying anything for all the transactions they are doing at all, like we're doing.
 

sincerem

VIP Contributor
I don't keep my funds anymore with the bank operating here in my country. I prefer saving with crypto, or using my coins to stake other crypto enthusiasts projects to earn recurring interest from it. Their is no need for me to save in the bank when my funds aren't at rest due to steady deductions. I have an online wallet app, operating as a bank, it's name is 'Branch Intl, it's been my best wallet app to date, better than all my Nigerian banks. They don't deduct my funds which I saved on the wallet, l lock my funds and earn recurring 20% interest rate annually for it, but reward is paid out weekly, which makes it more interesting. I get charge backs too, buying airtime, mobile data, paying electricity bill and other remitas. I also get reward for funding my wallet from other banks, which comes around five times monthly. Such kind of benefits is nowhere around offline banks, that's why I don't bother saving with offline banks, since my online wallet bank is by far better than the rest, even better than the interest paid out by all crypto exchanges. Apart from staking, their is no APR better than the one Branch Intl offers.
 
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