Zambian banks are so useless!!!

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Zambian banks are so useless!!!

Postby Carl » 26th October 2011, 10:42

Dear Zambia,

Can someone please explain to me why no bank in Zambia has managed to eliminate long queues in the banking halls. In this day and age of advanced technology, why do I have to spend 30 to 40 minutes just to deposit money? Instead of making it as painless as possible, the banks apparently love punishing people who are bringing them money. What kind of nonsense is this? Don't they realise that the more time I waste in their banking halls, the less time I have to make more money which I will deposit with them?

Is this such a complex problem involving partial differential equations in four dimensions which requires an MIT professor to solve using a super computer with 100,000 processors? Even small branches will routinely have 20 people in a single queue. The big banks are the worst. Zanaco, Barclays, Stanchart, Stanbic. Their cashiers are so casual, taking their sweet time as if no one has things to do.

I am so fed up I have a good mind to call the branch manager and spew a few unprintables but I guess it is not his fault either. It is those bank Directors who spend the whole day in comfortable air-conditioned offices and never have to queue up. Here is a suggestion to MDs and Directors. Join the queue to deposit money at 11 in the morning and see how it feels. Maybe then you shall act.
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Carl
 

Re: Zambian banks are so useless!!!

Postby Mwewa » 26th October 2011, 10:58

You're right, and the banking industry in Zambia has a long way to go to reach some decent standards.

I became a Standard Chartered customer last year, and all I seem to do is pay them monthly for the inconveniences they cause me, of which there have been many. There is no consideration for expediency in the branches, and everything always seems rather chaotic. North End Branch, for example, could probably free up a lot of parking space by doing as you advise and lessening the time people spend in queues. As of now, the whole process is time consuming and unfriendly - first, from having to wrangle one's way out of the crowded carpark, to standing for ages in a line while you wait for an employee to return to their desk or finish with the customers before you.
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Mwewa
 

Re: Zambian banks are so useless!!!

Postby chocy » 26th October 2011, 11:23

stanchart is really the worst in terms of customer service. Ndola stanchart only has ATMs at there town branch,not even their industrial branch has ATMs.....so whether depositing or withdrawing YOUR OWN money,it's a problem.maybe we should just start using our pillows again.
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chocy
 

Re: Zambian banks are so useless!!!

Postby Virginator » 26th October 2011, 13:05

I will talk of Stanchart because that's where I bank. Their staff needs to be fired and they have to reapply. Or send them for training. I enter the North end branch, and there is one person to answer to queries from 6 clients who want to know where to go/what to do regarding their issue. Problem? She's away from that bloody desk for 3 minutes, and when she gets back, her answer to my question was "I don't know." And she carried on as if nothing. Not even bothering to find out. A bitch slap was in order.

Then at Manda Hill, they have more cameras than tellers. They have more than 10 counters but maybe only 6 will be operational. Then once we reach the counter, that's when they give us forms for filling out. That takes another 3 to 5 minutes meaning the people behind me will have to wait even longer. Would it not make sense to have an usher who gives out forms when someone enters. The customers then fill them up while in line. All they should provide is a tall desk running the length of the queue. Voila! But it's a lack of initiative. Not only that, even at the counter, it took one lazy ass, dumb-ass (or both) she-teller 40 minutes to finish with me! FORTY minutes at the flippin counter. She disappeared to the back, came back, told me nothing, disappeared again, then came back. There were only 2 transactions.

Finally the ATM's. It's 2011and we don't even have ATM's that take deposits. Imagine if we had those. Cheques and cash being deposited without any queues. But come to think of it, even ATM's have long queues because there aren't enough machines.

As you said, these big bosses need to get out of their Air Con'd offices and to their transactions like the rest of us.
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Virginator
 

Re: Zambian banks are so useless!!!

Postby april » 26th October 2011, 13:42

We can have what we want if we are determined...i told you last time that Islamic Banking is the best no interest, no queues, things done in order and on time...no phones when working sooooooo...which one would you prefer?
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april
 

Re: Zambian banks are so useless!!!

Postby Rational » 26th October 2011, 18:43

April,
what's the catch? As we all know, a business needs to make a profit to remain standing. So what's the trick with this islamic banking scam?
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Rational
 

Re: Zambian banks are so useless!!!

Postby Carl » 27th October 2011, 08:00

In other countries, they have touch screen machines inside the banking hall that can take deposits, do money transfers, open new accounts, print statements, etc. Far better than those silly slow cashiers. Or maybe banks can install "mini" branches inside supermarkets. The whole Zambian financial system is in a mess. In America, you can go into a supermarket with your pay cheque and use it to pay and they will give you the difference in cash. You can also pay for your groceries with your visa card and make a cash withdrawal right there from the cashier.
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Carl
 

Re: Zambian banks are so useless!!!

Postby Ha! » 27th October 2011, 08:11

Rationale, if i am not mistaken islamic banking is more like venture capital, youre expected to share the profits that you actually realise as oposed to paying a fixed interest bearing loan.

Zambian banks are indeed useless particularly that they recycle the same farts who cant think beyond the risk calculator on their computer, a simple thing like an overdraft is like applying for joint nationality in Usa and afganistan !! Banks in zambia ( particularly the traditional ones ie Barclays and stanchart )are far from improving their services to world class levels, banks in zed make too much money so service level is not their top most priority, tell me when a bank in zambia posted a loss ? and like i said before its the same fellows that revolve through the banks like the flu, new thinking is needed.

If you have a bankable venture id suggest to look southwards, margins in SA are so tight and everyone is fighting for the same clients.
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Ha!
 

Re: Zambian banks are so useless!!!

Postby Wantanshi » 27th October 2011, 11:32

It's not only the banks, It's almost all African businesses. They hardly make you feel welcome. It's actually the standard business practice to make you aware that you are not as important to their business as they are to you as their customer. You need them more than they need you. So since they are doing you a favour you should therefore be more patient, understanding and also appreciate that they can only serve you when and if they can squeeze a bit of time from other more important things than you.

i now this is a patently stupid way of doing business, but that's the way it is. I hope some day it will dawn on them that without a customer there's no business.
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Wantanshi
 

Re: Zambian banks are so useless!!!

Postby Klassix » 27th October 2011, 14:23

Gosh, Stanchart Manda Hill must have some pretty dim Branch Manager who cannot see obvious common sense things like handing out slips to people before they reach the counter. Better still, why don't they copy Zanaco and Stanbic who have cashiers print out the deposit receipt and you sign it and get one copy, rather having deposit slips that you have to fill in manually? Why are simple ideas like this so hard for these numbskulls?
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Klassix
 

Re: Zambian banks are so useless!!!

Postby Rational » 27th October 2011, 17:25

Ha!

Thank you for your response. But I still feel I'm missing something on this Islamic banking deal. I smell a little hypocrisy going.

The very idea of venture capitalism as when it took off in the US in the late 1950s, was based on investment to help small start up businesses. Money is never free. It does not materialize out of thin air. For any bank to make a profit, they have got to invest their money somewhere. So if they do not charge interest to their customers, it means they charge someone else outside. Someone is paying for this Islamic bank to maintain its religious philosophy. Any way, you slice it, I just smell a rat here, really.

The more I think about this Islamic banking thing, the more it starts to sound like just another oxymoron. I think Islamic banking is just a bullshit term designed to make the bankers and customers feel good about themselves.
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Rational
 

Re: Zambian banks are so useless!!!

Postby Ha! » 28th October 2011, 08:34

Bwana Reason hows it !
You are very right to 'smell a rat', i can deduce that your thinking is based on the quest to understand as opposed to how you feel, your the type who needs to be convinced like my older brother who asks for an analysis of everything !
My personal understanding of the islamic banking system is fundamental,there is no interest. We have devised many ways of accumulating interest i.e making money simply on the basis of how long it is held, Aristotle in his many thoughts argued that interest is the breeding of money from money and that makes interest the most unnatural way of making money.I subscribe to his thoughts and that of islamic banking as regards no interest.I am not sure if our Indian freinds in zambia use the islamic banking ( as most of them are hindi), but i do know that many come to zambia with nothing and marry into a family and the brothers of the grooms wife will 'advance' their brother in law some capital say in the form of a stocked shop ( perhaps for the sake of their sisters well being ) and most stories ive heard is that these guys always manage to payoff what they were lent and continue from their and are expected to pass on the favour and so on. Only proby with niggas is we are not faithfull , i i think such a system is dandy and fewer people in our families would be poor and that would ease the burden on all of us and we could become richer save for the hand outs that eat away our wealth.

Back to the topic, interest free banking is the way to go ( for the record i am a catholic protestant ) , imagine reporting your banks results on actual value of the business you have transacted as opossed to fictive interest rates moved by market conditions which are the domain of antagonists (economists ) ,you make acruals on events which are certain rather than presumtive in the extreme. Return on investment can also be more substantive than indicative.I hope i am making sense.
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Ha!
 

Re: Zambian banks are so useless!!!

Postby Mwewa » 28th October 2011, 11:35

Wantanshi, the only way things will change is when Zambians actually start to demand better service. One thing I notice about us is that we gripe and moan amongst ourselves but let companies get away with treating us badly. Whenever I receive bad treatment, I will point it out right there and then - no way am I paying for bad service! I often notice as well that even though people in a queue may all share the same aggitation at standing in line for an hour while cashiers gossip or go off to lunch, no one will support the ONE person who raises a complaint. People just watch and don't get involved. It's no wonder we get taken for a ride as Zambians. Even companies known for offering quality services/ goods abroad are sub-standard here, probably because they know that we are not demanding and will often accept anything.

Among banks, the worst offenders appear to be, as someone pointed out, the bigger banks like Barclays (which is frankly horrific) and Stanchart. I hear the smaller, newer banks go the extra mile, and it may mean that the bigger banks need to revamp themselves with new thinking and enthusiasm. Though to be fair, their pickings of enthusiastic and friendly employees are probably slim since we have not yet cultivated such a culture in Zambia, they can do more to recognise good employees and promote those to strategic positions, or have more rigorous and less nepotistic recruitment processes to ensure that the right people are getting the jobs.
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Mwewa
 

Re: Zambian banks are so useless!!!

Postby Carl » 28th October 2011, 12:17

The idea of lending money without interest is nonsensical and demonstrates lack of understanding of how money works in the real world. There are people who will make excess money and save it. There are people who want to borrow. The saver therefore needs to be enticed (through the promise of interest) into lending the borrower, otherwise he will tell you to get lost. There is a risk associated with lending which also has to be covered. Lending money is a service, just like legal services or book keeping. Characterising it as "breeding of money from money" just shows ignorance.

In Islamic banking, you still make money out of lending someone money. So whether you call it "profit sharing" or "interest", whats the difference?
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Carl
 


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