Friday, January 25, 2013

Long delay for GIRO authorization


21 January 2013 (not published)

Editor, Forum Page
Straits Times

I applied to Standard & Chartered Bank to have my 
credit card bills paid by GIRO from my DBS Account.

SCB required me to submit an authorization form. On
receiving it, they told me that it would take 4 to 6 weeks for
the request to be processed.

Why does it have to take so long? Why does the process
have to be manual?

I already have a security token with DBS bank. Surely, it 
should be possible for me to login with 
the security token, authenticate my identity and make the 
request to DBS Bank to accept bills from the billing organization?

SCB said that they did not receive my 
first authorization form sent by mail. I had to send them a second form.
 I finally managed to get the GIRO authorization approved after 
six months, allowing for time lost due to communication.

Why are we still using wasteful and time consuming 
process, when a more efficient online version should be 
provided?

1 comment:

Lye Khuen Way said...

I used to rate the foreign banks here much better in service, even with credit cards related service.
Now, they have also degenerate to our local banks' standard.

Yes, Standard and Chartered is one such entity. Is it because of their being granted more banking service licence and need to
toe some MAS rules?

Naughty of me to insinuate, no?

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