A bank account in Kenya is one of the safest ways to save money.
However, in Kenya that can change in a twinkle of an eye when with weak regulatory procedures, banks shut down and those responsible never see the inside of a cell for economic terrorism.
Nonetheless, Kenyans are a resilient people who disregard the curiously high costs of some banks. Sometimes to their detriment.
Yesterday, a lady, @CarolmNyaga put the recently formed NCBA Bank Kenya PLC to task over their cost of Sh3000 per page for a bank statement.
“I was gearing up for a fantastic day, then I called @NCBABankKenya for a historical statement 4 a savings acc I opened 6 years ago, and they tell me it’ll cost KES 3,000 PER PAGE! Anyway, took a detour & now heading to close that acc immediately. Nonsense sitaki in 2020!”, she wrote to her Twitter audience.
She then added, “It gets worse. I have to pay 2k to reactivate the acc before I close it coz I haven’t withdrawn from it in the last 6 months. It’s a savings account for heaven’s sake! DAYLIGHT ROBBERRY!”, tagging the accounts of Consumer Groups COFEK and Consumer Grassroots Association (CGA) and the regulator Central Bank of Kenya (CBK).
Though the bank later apologised for the ‘unpleasant experience”, and promised to ‘review’ the charges, of which @CarolmNyaga agreed, Netizens joined in the conversation.
Good riddance for you tbh. Closed an account there on Monday. Closing another next week then we’re done. Extra charges are attached to your account that you don’t even know about. Shameless.
— Brenda Ogera (@ditty_B) July 16, 2020
After certain merger the ARROGANCE is visible everywhere they engage with clients… A certain bank treated Kenyans abnormally while acting normally and when @KeEquityBank came you all know the story..
— Silas Kimathi (@silasherns) July 16, 2020
I was in the bank yesterday. I was kept from 10:30 to 4:30pm sorting a foreign exchange rate…I am in their Wabera Street Branch but they keep calling my co-directors asking if they can talk to me. Isn't that amazing? About time to consider moving the account? Maybe!
— Peter Solo Gichira (@sologish) July 17, 2020
Banks tend to charge a lot for historical data.
They also tend to charge more for certified copies.
It is possible whoever was serving you did not understand that you wanted an estatement.
That being said, they will still find something to charge you for to get the statement
— Esther K (@_Esther_K_) July 16, 2020
UPDATE:@NCBABankKenya Customer team reached out and by end of yesterday I had the soft copy statement in my inbox AT NO COST.
— #WeMustTakeOurCountryBack (@CarolmNyaga) July 17, 2020
It is very advisable to challenge/question some of the charges that banks throw our way, it's possible to have them waived if you put your case across. https://t.co/y4v8dvzule
Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to editor@kenyanbusinessfeed.com
Comments
Related reporting
More Business News →
BRICS Expansion: New Members, Currency Dreams, and a Bold Bid to Eclipse the West
Oigara's 722 Million Scandal Shakes Stanbic and Kenya’s Banking Watchdogs
