Wednesday, October 31, 2012

My experience with Standard Chartered Bank

The marketeer of Standard Chartered Bank went to a lot of trouble to get me to sign up for their credit cards.

The marketeer later told me that the bank will not pay her any fee for the cards sold to me, as I belonged to the older age group. It seemed that the bank wanted to target the young people who are likely to roll over their credit line and pay interest of 2% per month, plus a late payment fee of $50 (or whatever is the amount).

I am reluctant to start using the card until I got my GIRO authorization arranged. I had to get the GIRO form from their branch. After submitting the authorization forms, I did not hear from the bank for more than one month. I called their hotline and they said, "no record of GIRO arrangement".

I suspect that they are not really keen to have me spend on the credit card and pay by GIRO. Perhaps they are waiting for me to pay late, so they can impose their fees.

1 comment:

yujuan said...

Someone said Chartered Bank is traditionally a snob, meaning either you must be their Priority client with plenty of dough, then they would pay you a lot of attention.
Wealthy past clients of this Bank who had closed their Accounts donkey years ago, would you believe it, still get monthly Bank Statements posted to them, showing of all things- 0 Balances in their previous Accounts. What a waste of printed papers.
TKL may be too small a fry to get their attention. Many of us are in the same category as Mr. Tan. Nothing to do being an oldie, unless you are a very rich oldie.

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