I was at the Maybank branch in Penang to draw out some money by check from my own bank account. I had to show my passport for identification. There was some delay in paying the money to me, as the supervisor had to verify my signature with the Johore Bahru branch, where I kept my account.
Here I am at the counter in person with my passport, and still they have to follow the bank rule blindly to verify the signature. And it was an archaic way to verify the signature. Furthermore, the signature could not be retrieved through their multi-million dollar system!
Signatures are not kept in computer records as that would open them to possible frauds. Instead they are kept in paper form and kept in the files at the branch where you start your account. Malaysia is a much bigger country than Singapore, and Maybank has one of the most branches there. Security measures are higher there too, to prevent many banking frauds. The security computer chips on credit cards were introduced there much earlier than here because of the higher risks. Even ATMs bolted to the concrete floor have been known to be stolen. Thus the verification you have to go through is understandable especially if it involved huge sums of cash.
ReplyDeleteTo avoid such hassle, you could just use ATMs, cards or cheques.
I was only withdrawing MYR 1,000. This is quite small and does not deserve the additional checking. Anyway, I was there in person, with my passport. I should have brought by ATM card - agree, but I did not.
ReplyDeleteThink for Maybank Account holders in Malaysia, you are given a bank account card and/or an ATM card. Using the bank card you could withdraw money, with passport at hand,relatively easy at the counter. Of course the easiest way is the ATM card to withdraw cash at any time.
ReplyDeletePerhaps different bank branches have different security standards.
Maybank's service standard, together with OCBC's, has always been good, whether in Malaysia or Singapore.
Could it be the photo on TKL's passport look different than the person himself. But guess the main reason is Maybank's use of technology is a bit slower, but it's catching up fast.
I've had Maybank account in KL before, yes, at the Puduraya landmark HQ building. For over-the-counter withdrawals, just show passbook and passport. Signing was also requisite but more like formality, as long as they verified passbook and passport.
ReplyDeleteThe signature should be verifiable on the passbook itself regardless of branch. Strict couter-verification of signature should be only for a third party presenting your cheque to draw money from your account, not when you're in person with identification.