Unfortunate banking experience

[Clermont]

Landbank, but you have to have ACR card or be a Filipino 

[hk blues]

53 minutes ago, Chaplain said:

No, we were not notified at all, and it was less than a year since we last used the account, that is the disappointing part of it all.

They had our home number, email, and our address - and in past my wife had been notified by text on her phone of other transactions.  My wife actually went into the branch for details; to our shock and disappointment, she was treated in a very condescending manner when she asked what had become of the monies.
The bank staff were collectively unprofessional, and they would not provided any business answers or provide any supporting documentation.
I contacted the Sentral Bank Administration to ask;

''Should I assume the accounts were closed at a convenient opportunity, and the funds divided up amongst the staff? As I mentioned, no professional explanation or any documentation has been offered or provided. 

The act of embezzling; 
Specifically, the act by which a clerk, servant, or other person occupying a position of trust fraudulently appropriates to his own use the money or goods entrusted to his care.

We were given these options;

Option 1: Click the BOB robot icon on the BSP website at www.bsp.gov.ph  
Option 2: Click the Message button on the BSP Official Facebook Page at https://www.facebook.com/BangkoSentralngPilipinas/  
Option 3: Text “Complaint” to 21582277 (for Globe subscribers only, subject to standard charges) 

I could not figure out any of these;

Option 1: What is a BOB Robot? I could not find it on the site.

Option 2: I have never visited Facebook, or any other social media

Option 3: I do not use Globe, in fact, I do not even have a mobile telephone.

I figure;

I am not wealthy, and it appears it amounts to 20,000 PHP - Split between a few tellers and Manager in a small branch - a nice little bonus for a days work.

I am a guest here in the Philippines, so I figure let it go - it is not really worth another stroke or heart attack over.
 

On the face of it, the whole scenario seems suspicious but If I may make an observation and please don't be offended - based on my own experience here if we become too confrontational too quickly the walls go up and we get nowhere. If you approached the staff in the same vein as your contact with BSP that may explain why you got nowhere.  

If it were me, I'd call ahead and make an appointment with the manager and try to keep it simple and avoid accusations.  If it's been a year they may be within their rights to have frozen the accounts but as for keeping the money it would seem extreme in the circumstances.  Regardless, they are obligated to provide documentation on what has transpired.

Hope you get your money back!

 

[Mike J]

14 hours ago, Chaplain said:

I am a guest here in the Philippines, so I figure let it go - it is not really worth another stroke or heart attack over.

The problem with letting it go is that they will see it worked and keep pulling it on others. 

[Chaplain]

5 hours ago, Mike J said:

The problem with letting it go is that they will see it worked and keep pulling it on others. 

Very good point - Thanks

 

[Chaplain]

22 hours ago, hk blues said:

On the face of it, the whole scenario seems suspicious but If I may make an observation and please don't be offended - based on my own experience here if we become too confrontational too quickly the walls go up and we get nowhere. If you approached the staff in the same vein as your contact with BSP that may explain why you got nowhere.  

If it were me, I'd call ahead and make an appointment with the manager and try to keep it simple and avoid accusations.  If it's been a year they may be within their rights to have frozen the accounts but as for keeping the money it would seem extreme in the circumstances.  Regardless, they are obligated to provide documentation on what has transpired.

Hope you get your money back!

 

Thanks, no offence taken at all and I see where you are coming from.

I suppose I should explain just a few things more; as there was no ill or negative 'vein'.

As a Chaplain, I teach how it is better to catch flies with honey, rather than vinegar.

Give the other cheek - and so on.

But, as the saying goes - I am running out of cheeks. 

To this point, I have only asked for assistance OR and explanation from the BSP, It was not a complaint at all, nor was it a complaint at the branch. My wife went to do some routine banking, and was surprised - being confused, she simply asked what happened to the monies, and what does she need to do. 

She was boldly told, the accounts are closed, and that's it;

So she just wanted to come home to tell me, and she left the branch - BUT - she was laughed at by the staff as she went out of the branch? She came home devastated, humiliated and in tears.

My wife is an amazing woman, a heart of gold - not a business woman. She has returned me from a stroke, to the point where I had to relearn how to tie my shoes, and learn to  remember my own family members or where I am at times - and she never complained once.

Needless to say, my blood boiled, but I don't have much fight left in me, because if I did - well, best leave it at that, I think everyone would agree. 

I would like to thank each member that commented with their point of view and perspective - it helped me a great deal actually;

I have a better idea how to proceed, and much thanks to all of you.

I will let you know how it goes.

Thanks again.

[hk blues]

21 hours ago, Chaplain said:

Thanks, no offence taken at all and I see where you are coming from.

I suppose I should explain just a few things more; as there was no ill or negative 'vein'.

As a Chaplain, I teach how it is better to catch flies with honey, rather than vinegar.

Give the other cheek - and so on.

But, as the saying goes - I am running out of cheeks. 

To this point, I have only asked for assistance OR and explanation from the BSP, It was not a complaint at all, nor was it a complaint at the branch. My wife went to do some routine banking, and was surprised - being confused, she simply asked what happened to the monies, and what does she need to do. 

She was boldly told, the accounts are closed, and that's it;

So she just wanted to come home to tell me, and she left the branch - BUT - she was laughed at by the staff as she went out of the branch? She came home devastated, humiliated and in tears.

My wife is an amazing woman, a heart of gold - not a business woman. She has returned me from a stroke, to the point where I had to relearn how to tie my shoes, and learn to  remember my own family members or where I am at times - and she never complained once.

Needless to say, my blood boiled, but I don't have much fight left in me, because if I did - well, best leave it at that, I think everyone would agree. 

I would like to thank each member that commented with their point of view and perspective - it helped me a great deal actually;

I have a better idea how to proceed, and much thanks to all of you.

I will let you know how it goes.

Thanks again.

Thank you for the explanation and clarification.

I hope you can find out where the money is, or went, and get it back without much further stress.  

[Snowy79]

22 hours ago, Chaplain said:

Thanks, no offence taken at all and I see where you are coming from.

I suppose I should explain just a few things more; as there was no ill or negative 'vein'.

As a Chaplain, I teach how it is better to catch flies with honey, rather than vinegar.

Give the other cheek - and so on.

But, as the saying goes - I am running out of cheeks. 

To this point, I have only asked for assistance OR and explanation from the BSP, It was not a complaint at all, nor was it a complaint at the branch. My wife went to do some routine banking, and was surprised - being confused, she simply asked what happened to the monies, and what does she need to do. 

She was boldly told, the accounts are closed, and that's it;

So she just wanted to come home to tell me, and she left the branch - BUT - she was laughed at by the staff as she went out of the branch? She came home devastated, humiliated and in tears.

My wife is an amazing woman, a heart of gold - not a business woman. She has returned me from a stroke, to the point where I had to relearn how to tie my shoes, and learn to  remember my own family members or where I am at times - and she never complained once.

Needless to say, my blood boiled, but I don't have much fight left in me, because if I did - well, best leave it at that, I think everyone would agree. 

I would like to thank each member that commented with their point of view and perspective - it helped me a great deal actually;

I have a better idea how to proceed, and much thanks to all of you.

I will let you know how it goes.

Thanks again.

Sorry to hear about your predicament. Banks here tend to have a pretty poor reputation, I personally had to threaten the HSBC bank with the involvement of Banko Central over 30k peso that had gone walk abouts from my account.  It could only have been an inside job and had culminated with the HSBC saying they were closing the case after over 6 months of me trying to find out where my money went and emails, calls and secure messages backwards and forwards. 

After they said they had given up looking for the money as they had exhausted all avenues I sent one final e-mail explaining if they can't find my money then they have a thief on the inside and I will be providing all my evidence to the Banko Sentral requesting an independent investigation. Three hours later I received an email saying they had found my money. 

[Mike J]

3 hours ago, Snowy79 said:

Sorry to hear about your predicament. Banks here tend to have a pretty poor reputation, I personally had to threaten the HSBC bank with the involvement of Banko Central over 30k peso that had gone walk abouts from my account.  It could only have been an inside job and had culminated with the HSBC saying they were closing the case after over 6 months of me trying to find out where my money went and emails, calls and secure messages backwards and forwards. 

After they said they had given up looking for the money as they had exhausted all avenues I sent one final e-mail explaining if they can't find my money then they have a thief on the inside and I will be providing all my evidence to the Banko Sentral requesting an independent investigation. Three hours later I received an email saying they had found my money. 

Sounds you told them in true military language; "I am here to take names and kick @ss, and my pen just ran out ink so bend over." 

[Jollygoodfellow]

On 3/11/2023 at 4:05 PM, Chaplain said:

I could not figure out any of these;

Option 1: What is a BOB Robot? I could not find it on the site.

Its in the bottom right corner

[Jollygoodfellow]

On 3/10/2023 at 6:29 PM, Chaplain said:

Although we did not use those 2 accounts much (due to using other banks), we always maintained more than the minimum balance of the 10,000 PHP per account to avoid any issues. 

This is the Bank of Commerce policy. And BSP rules. This shows you have a case against them as the time is 2 years for savings accounts.

ERRATUM ON NEW RULES ON DORMANCY FEES

Quote

March 1, 2017

Pursuant to BSP Circular No. 928 on Amendments to the Regulation Governing Fees on Retail Bank Products/Services and Dormant Deposit Accounts, the following new rules on dormant accounts shall be effective APRIL 27, 2017. 

1) Savings or checking accounts that have been dormant shall be subject to dormancy fee five (5) years after the last activity if the account falls below the required minimum maintaining Average Daily Balance (ADB);
2) The Dormancy Fee shall be THIRTY PESOS (PHP30.00) per month;
3) Dormant accounts shall be defined as follows:

Current or checking accounts showing no deposit or withdrawal for a period of one (1) year
Savings account showing no deposit or withdrawal for a period of two (2) years.
We encourage you to check your account and visit your branch of account at the soonest possible time to know more about the new rules. 

For other inquiries related to your account or for more information about our products, please call Bank of Commerce Customer Care at (02) 632-BANK (2265), any of Domestic Toll-free numbers: (PLDT) 1800- 10-982-6000 and (Globe Lines) 1800-8-982-6000, or send us an email at customerservice@bankcom.com.ph. 

https://www.bankcom.com.ph/advisory/erratum-new-rules-dormancy-fees/