Dear Mr. Tan,
I have 4 banks personal account. I wish to highlight that SCB service is the best. I have encounter some transfer fund issue last year and due to the error of the bank. The SQ manager called me and followed up with a apology letter thereafter sending a wine hamper to my house.
I visited the branch in Tampines and Raffles Place, their staff is very attentive during my opening account and applying credit card I like their recent launch of internet payment of credit card to other bank credit card bills. This save me a lot of time rather issuing a cheques or queueing at the AXS machine for payment.
Further more, I can just do bill payment post dated before the due date once I login to the account. This can reduce oversight of payment and incurred interest fee and appealing process. I hope other local bank can think out of box rather than limited the credit card payment from their own bank.
I have also compared all the internet banking service, so far SCB is the simplest and easy to get transaction done within a few minutes.
FT
My comments
Well done to Standard Chartered Bank. I also observe that they did not sell any of the credit linked notes that caused losses to the bank customers. I like their advertisement on their commitment to look after the welfare of their customers. It sets a good goal for them to live up to.
I love their color code and treasure their services.
ReplyDeleteI make them my first choice in terms of personal banking.
I had an unpleasant encounter with Standard Chartered Bank where the staff provide me with the wrong info 3 times and when promised to check further on my query, they failed to follow up to close the loop. In the end, I am so unhappy with their service that I closed my account with them and move to Citibank.
ReplyDeleteMany years ago when I just started work, Standard Chart offered me a waiver of annual fee for life if I would to pay a one time $500 lump sum. I thought it was a good deal because the annual fee printed on the brochure was more than $50 a year. After I paid that amount, I realised that nobody ever pay any annual fee for their credit cards. All credit cards came free.
ReplyDeleteIt was my first time I was cheated. Although I hold the credit card for life, I seldom use the card anymore because everytime I see the card, I would recall how I was cheated by the bank. Frankly speaking, I felt so embarrassed for being so silly that nobody knows how i was so gullible. Also the reward points are so lousy compared to others like DBS, OCBC, etc. Every time my wife try to claim some points from Standard Chart, she would give up because the reward points are so hopeless... and she would remind me of how I was cheated by the bank of $500.
- Embarrassed for being cheated 10 years ago.
A RM of this bank charged fees and deducted it from my account w/o even informing me beforehand. Luckily I checked my balance and requested the bank to deposit back to my a/c.
ReplyDeleteI closed my a/c thereafter.
I think it is right to inform clients FIRST before making any deduction instead of taking $$ right under their nose.
SCB makes it so convenient for clients that my fren could sign more than 10 cheques that belong to her hubby's personal SCB account with her signature and they all got cleared. Mind you. It's his account, not joint account. Need his signature not both, let alone hers.
ReplyDeleteAmazing service from SCB. Transactions are done with such ease.
I ｄｉｓａｇｒｅｅ ｔｈａｔ ＳＣＢ ｓｅｒｖｉｃｅ ｉｓ ｇｏｏｄ．．．．Ｉ ｈａｄ ｎｏｔ ｏｎｌｙ ｏｎｃｅ ｂｕｔ ｔｗｉｃｅ ｂａｄ ｅｘｐｅｒｉｅｎｃｅ ｗｉｔｈ ＳＣＢ．．．．Ｆｉｒｓｔ ｔｉｍｅ， ｔｈｅｙ ｃａｕｓｅ ｍｅ ｔｏ ｈａｖｅ ｂａｄ ｃｒｅｄｉｔ ｗｉｔｈ ｃｒｅｄｉｔ ｂｕｒｅａｕ ａｎｄ ｉｔ＇ｓ ｎｏｔ ｍｙ ｆａｕｌｔ， ｗｈａｔ ｉ ｄｉｄ ｗａｓ ｃａｎｃｅｌ ｍｙ ｃｒｅｄｉｔ ｃａｒｄ ｂｅｃａｕｓｅ ｉ ｒｅｆｕｓｅ ｔｏ ｐａｙ ｔｈｅ ｙｅａｒｌｙ ｃｈａｒｇｅ ａｎｄ ｔｈｅｙ ｐｕｔ ｍｅ ａｓ ｂａｄ ｄｅｂｔ ｃｕｓｔｏｍｅｒ，Ｉ ａｌｍｏｓｔ ｇｏｔ ｉｎｔｏ ｔｒｏｕｂｌｅ ｉｎ ｇｅｔｔｉｎｇ ｂａｎｋ ｌｏａｎ ｂｅｃａｕｓｅ ｏｆ ｔｈｉｓ．
ReplyDelete２ｎｄ ｔｉｍｅ ｔｈｅ ｃｈａｒｇｅ ｍｅ ｆｏｒ ｌａｔｅ ｐａｙｍｅｎｔ ｂｅｃａｕｓｅ ｔｈｅｙ ｄｉｄｎ＇ｔ ｓｅｎｄ ｍｅ ｔｈｅ ｂｉｌｌ， Ｉ ｓｐｏｋｅｎ ｔｏ ＳＣＢ ｃａｌｌ ｃｅｎｔｒｅ ｆｏｒ ａ ｃｏｕｐｌｅ ｏｆ ｔｉｍｅｓ ａｎｄ ｔｈｅｙ ｓｔｉｌｌ ｂｉｌｌ ｍｅ ｆｏｒ ｌａｔｅ ｃｈａｒｇｅｓ ａｎｄ ｎｏ ｂｉｌｌ ｗａｓ ｒｅｃｅｉｖｅｄ．．．．Ｉ ｔｏｔａｌｌｙ ｇａｖｅ ｕｐ ｗｉｔｈ ＳＣＢ ａｎｄ ｗｉｌｌ ｎｅｖｅｒ ｗａｎｔ ｔｏ ｈａｖｅ ａｎｙ ｂｕｓｉｎｅｓｓ ｔｒａｎｓａｃｔｉｏｎ ｗｉｔｈSCB anymore!
I loved the service at Standchart. They have been good thus far.
ReplyDeleteAll local banks are already providing fund transfer, bill payment and GIRO services for quite a while already.
ReplyDeleteSCB is a late adopter of these services.
I dislike SCB's service too. I earn about $147k annually but SCB rejected my application for their overdraft facility (they were offering a free camera). They refused point blank to say why. I suspect they may have run out of cameras.
ReplyDeleteOn the other hand, Citibank approved my application overdraft facility quickly with a credit limit of almost $50k!
Ptui to SCB, kudos to Citibank!
I don't know if any of you experience this but I get three phone calls from their credit transfer in two days to ask me to consider using their credit line. I told them that I am not interested and to take me off the bank's call list but to no avail.
ReplyDeleteI don't like the bank to sell all these unnecessary services to us over the phone and some more use an unknown/private line. Can some one feedbank to the bank to not sell anything over the phone? It is irritating.
I have accounts with POSB, OCBC and SCB, SCB is the only bank that allows an overseas mobile phone number to be used for the 2FA.
ReplyDeleteI also hold the $500 lifetime membership credit card. I don't feel cheated as it comes with 2 free sub cards, and for all the 3 cards, I don't have to worry about calling the bank to waive my annual fees on a yearly basis. I remember reading on this blog that most banks still deduct the annual fees unless disputed, so the $500 saves me the hassle (ermm for a lifetime, provided SCB lives longer than me..haha).
SCB used to have the best interest for online saving a/c, their esaver. Quite good for those with large amounts eg > $200K.
ReplyDeleteThis spot has been lost to Maybank's isavvy a/c which also give ATM card. Their online FD interest is also the best.
REX comments as follows,
ReplyDeleteI am not very sure what is the purpose of this thread. For every happy customer you might also find one unhappy customer.
Well anyway, here is my two-cents worth of opinion.
The internet banking system in SCB is the only one whcih does not reveal the banks' fixed deposit rates or saver account rates. At the end of the day, many customers want to know how much they get, all othe bank websites post these rates on their website. In SCB website they just say "high interest rates" but i navigate many times (just did that again) i cannot find what they are paying to customers. It is quite ridiculous.
Secondly, i find their marketing tactic of sending a blank cheque to my name horrifying. Twice, they send $5000 cheque (real money!!) to my house address, expect me to bank it in, and thereafter use it to pay for all other credit card liabilities, that is to say, it is an instant loan without me asking for it. If i didnt read properly, i would think this is windfall, and then bank the money in, and later realise i have to pay them interest on this LOAN which i never even asked for. Proponents of this kind of scheme may call it attractive, but I think it is low-down and unscrupulous. I was very unhappy with this kind of marketing, but this is singapore, "open your eyes big big, you die your business".
rex
My experience with SCB is atrocious. The RM did not bothered even to meet me for the 1.5 years that I had transacted with them ( I had transacted $300k thru her team). I had requested for a meeting to meet her and understand my risk profile and she did not bothered to keep up with her promise to meet up for that period. Her staff also unilaterally activated my credit card account without informing me. It is only after mine writing in and insisting that SCB acknowledged that they had activated and cancelled the card did they follow up with a formal cancellation letter.
ReplyDeleteWhen I wrote in last year to the RM's manager about the misbehavior of her team, she did not bother to even talk or call me. I had to subsequently follow up this matter with their complaints department, then was there an acknowledgement of all these events. The irony of all these was that they had left all the defaults at that and no attempt was made to repair the relationship and solutions moving forward. SCB takes this customer for granted and they had lost this customer
I had since terminated all dealings and sacked the RM.
As Rex said, every customer has his share of good and bad experiences with the many banks around. Ultimately we will settle down with a few banks that we are comfortable with. My kind of bank may not be your kind of bank. One man's meat is another man's poison.
ReplyDeleteMr. tan, they do sell credit link notes but lucky not those that exploded.
ReplyDeleteI received alot of nuisance calls selling financial products and sad to say 80% of them were from agents representing Standard Chartered Bank. It would be good if they stopped this bad practice.
ReplyDeleteWell, I an not sure who buys hype on TV especially when it is a paid commercial. Teams of marketing experts compete with each other to find the best way to tug at the consumer's heartstrings.
ReplyDeleteWith a good commercial and marketing strategy, even the worst organisation can appear to look good. If you are good, people will know, no need for commercial.
If you are no good, you pay someone to tell consumer you are good, it is like blowing your own horn. Then I only have one word: FAIL. Tell me if ever got one paid commercial ever tell consumer that the particular organisation is no good?
We live in a world full of excess, part of the problem is all this excessive marketing. It is the ultimate selling.
In all fairness,Best is to have a series other Banks listed on intervals and hear feedbacks:
ReplyDeletePOSB
DBS
OCBC
HSBC
UOB
CITI
MAYBABK
The new feature by SCB on paying your credit card bill to any bank is really badly implemented. I used it on my OCBC credit card and in the end, OCBC deducted away my reward points because the payment arrangement was some sort of a Visa refund. Thus OCBC deems it as an "un-spend" and thus takes away the reward points that were given due to your spendings. I wrote in several mails to SCB and they kept asking me to check with OCBC and emphasizing there are no charges for their service ! How can they just implement a system without checking its implication on other bank's credit cards? Did they run any UAT on this to ensure that customers have no problem? Now i'm made like a fool to chase both banks for an answer. A classic case of me doing the cleanup for the bank's negligence.
ReplyDeleteStandard Chartered Bank is really laughable as a bank. Their customer service officers are poor trained and has little or no knowledge of regulations, products whatsoever.
ReplyDeleteMy personal experience with them is full of horrible encounters, but this is one is by far the worst! I am holding a Manhattan Card plus one supplementary card. For one of the months, I noticed my sup card has been spending quite a bit so I call them to block the cards in order to control the budget for the month.
Guess what? My supplementary card holder called the bank to unblock the card which by regulation only the person holding the original card is able to block/unblock. Their bank personnel also told my supplementary card holder that I had blocked it, resulting in a lot of needless argument.
When I called them up they apologized but up to now have not get back to me on 1)who was the person who allowed the supplementary card holder to unblock the card without the original card holder permission 2)any remedial action done towards the breach in confidentiality as well as security.
Bad experiences with SCB too... at woodlands civic centre to be specific.
ReplyDeleteGive customer a feeling or being taken for granted, unhelpful and slow complaint handling process...
Not going to go through the nitty-gritty of the complaint... See how things goes, I still love the bank... just the staffs... who are my country mate... singaporeans...
I was browsing the net for similar bad experiences and I stumbled upon this comment site. SCB closed one of my accounts without my consent, without notice, email, mail or phone call. I have emailed their customer service but after 2 working days, have yet to receive any response. This is definitely the worse banking service ever!
ReplyDeleteSCB is the worst bank in handling credit card late charges. Normally for other banks, late charges waiver is absolutely no hassle. Just need to pay up what you had spent and then call to request for the waiver. Only SCB keeps rejecting my request, even though it was my first time and the amount I spent was only fifty bucks. I tried calling to explain to a manager who can make decision but the "consultants" on the phone kept saying they will put up the request but everytime a computer generated letter would be sent to me rejecting without a reason. My advise is never use SCB credit cards unless you are very sure you can pay on time.
ReplyDeleteWish SCB go to HELL!!!
ReplyDeleteI terminated card 3x and it's still active for 2 month. I told them to move all my leftover balance to another card and none was done. Now one card is has extra money and another card continues to add on with "late charges" and "interest" even though it supposed to be terminated!
If you still want to go ahead with SCB , go ahead. A lot of comments have warn you.
Bad Experience with Standard Chartered Bank SG. Customer service.
ReplyDelete( SCB customer service people are loan sharks not customer service professionals)
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Regarding the Personal Loan.. I approached re-payment loan.. usually I am paying monthly S$425 only..
March Month I spoke with Ms. Rahida(65081980 ).. as her suggestion I paid S$850.. and she said with this month end.. we will send the
re-payment loan details.. still not provided.. So I called after 1 week gap.. she forwarded the phone to another customer service person.
he is Mr. Nicolson Tay (65081930)... he doing worst reply.. ie., you
need to pay again S$850 then only we can provide re-payment option. So I paid again the same amount.
after the payment Nicloson telling that you have to pay another S$1600.. then only can provide detail otherwise we will take your house holding things.
he is not working like Customer Service.. behaving like "Loan shark".. and he calling from Private Number.. saying that.
If you give some commision.. I will provide better re-payment option. he always disturbing without proper reason.
!!! SCB customer service people are loan sharks not customer service professionals. !!!
Yesterday thursday 30/05/13, evening around 3.30pm I went to bank in my coins rm 650 in TAIPAN SJ Malaysia branch. But when the amount bank in rm 529.95! it is not the same amount my husband had counted. So I ask them to withdraw the coins and re check but they insisted the machine it is right. So I ask them check on by one the 50 cents, 20 cents, 10 cents and 5 cents which all same amount except old 50 cents coins missing almost half of it!! And the amount difference is Rm 120 difference!!! They keep on insisted my side calculation is wrong or money missing on the way there! I had packed all coins according their range so 50 cents is all in one bag and I put it together with another 10 and 20 cents bags in one large shopping bags. I even different out new coins and old coins. So it is Not logic at all only old 50 cents coins missing almost half but the rest others coins is accurate amount!! And especially 50cents it is impossible for anyone to count wrong and if wrong it is not going to be so huge amount! I and my husband deeply dissapointed. My husband had counted three times!!! We take money to bank in because we trust SCB and it's international bank, but in the end when amount not accurate they push the blame on customer fault. I and my husband search throughly our car and house as they the tellers ask us to do. But no matter what it is not logical to drop only 50 cents but the rest accurate!! And such a huge difference! We are their customer for many years. I understand the teller want to defend themselves but please put themself in our shoe. All their manager say its " nothing you can do so do nothing" what a poor answer from them. The losing amount not the main matter we here for but it is the righteous and principles and trust!!
ReplyDeleteThe last time i dealt with Standard chartered i was pissed off. Whenever i called and asked for waiver, the standard reply will be "our customer service agent from XXX department will call you again regarding about the waiver." how in the world does stand chart operate their business ? Another person will call telling cork and bull story saying they cannot waive off. ended up i got to pay for it. Another incident that got me really fired up is i would not get my bill statement on certain months, during those months that they do not send the bill they will charge me late charges and interest on the following month. as usual i will call and ask for waiver which almost always not get. whenever i ask for an explanation why the bill did not arrive the previous month. The perfect excuse they always like to use is the postman did not deliver it. i am getting my statements every other month from the same postman. I am left wondering is this the way to do business with yr clients ? I find their method of doing business unethical. As such i always monitor the bill statement whenever i do not receive the bill the first thing i will do is call them and fire them and tell them straight i will not bear this extra charges. From a very Frustrated customer of stand chart.
ReplyDeleteYou think SC treat loyal customer well? Wrong! Have been a loyal customer over 30 years. Got my credit card stolen and used. They then decided to terminate my account despite me being a loyal customer who spent a lot on this card and always pay on time!!! So much for doing business with SC and I will not stay with this bank. Cancelling all my other accounts with them.
ReplyDeleteVery bad service from SC. The branch manager gave wrong info to me. All their customer service are not trained to answer questions. They do not check their system before answering to enquiries. I wonder if they have a single CRMS. I worry for the money put in. If they can provide wrong info on a customer's credit details, how carefully are their fund managers going to handle our money?
ReplyDeleteGo to other banks for credit cards. After they over the rebate % from 5% to 3%, their perks is no longer attractive.