I decided to use it to reduce my mortgage. It is like putting the money in another account which will draw an interest equivalent to the loan interest charged.
After filling up the necessary forms and signing them, the counter staff started to process the transaction. I was then told that I have to come again the next day because I used the internet banking to place the FD. Come on. Let's get real. By using technology I am now being penalized? You have got to be kidding me!
I told the staff that no way I was coming back the next day. It really took an effort to go to Puchong, let alone find a parking spot. Am I entitled to charge an interest penalty to the Bank since they are late in paying me back what is due to me? After all they are always quick to slap me the interest charges for delays which sometimes are not due to my fault but the system's.
The staff told me they cannot do nothing much about it because the system is set that way. I asked to see her superior. I told the superior firmly but politely that I would like my money today and that they were to address their backroom issues which were not my problem.
Yes. I am pretty clear of my rights. Especially when dealing with these
The superior told me that I would have to wait and they would need to liaise with HQ. This they did for like more than forty five minutes. They had to do something to bypass the system.
Even then I still have to buy a banker's cheque or use my cheque to encash the money from my account. I did not have my cheque book with me. I was not going to pay the RM2 for a banker's cheque. Besides it is already past four in the afternoon and the cheque will now take two working days to clear.
We finally settled for cash for those transactions which they were able to bypass the system. The one that cannot, I shall draw a cheque and bank it into my account while they shall close the account after the money has been withdrawn.
In parting I told the superior and the staff to look into this matter seriously. I am sure I am not the first and will not be the last unhappy customer who is and will encounter this. How can a customer be denied his right to withdraw his money anytime he wants to? How can a withdrawal be posted in the journal today but physical cash given out the next day? The systems analyst, the tester and the whole jing-bang gang ought to be shot! If you are keen on personal loan and money matters !