I had to open a new savings account with an established international bank when I started working for my current company. I have no idea why I cannot use my existing local bank when all along, my salary is credited into my existing local bank. My Human Resources Director says that because the company ties in with the international bank, all salary will be credited inside that bank, so she told me to open a savings account with that.
I did just that. During the first month, because the account was not set up yet, I still had my salary deposited into my current local bank account. Actually it is more convenient as all my electronic payments for bills and whatnot are deducted from my local bank account. But I got my salary one day late.
During the second month, when I checked the international bank account that I just set up, my salary was not in yet. One of the bank officers called me and asked if my account was active, I said I was waiting for my salary to come in. At the end of the payday, no money came in. I was starting to panic, when I checked my local bank account, and my salary was there! Why should I open another bank account when my salary could be credited into my existing account?
I went back to the office to ask my Human Resources Director. She said apparently the bank did not update her, which they were supposed to. So she made a call and everything was settled. Subsequently, my salary went into the international bank account, and I had to transfer some money out into my local bank account for bill payments.
When I got my salary for the previous month recently, I wanted to try out the bank transfer system of paying card bills. That was last Thursday (1 November). I did a bank transfer to pay my credit cards and I thought it was good, because when I made a transfer to my local bank account, it took less than a day.
However, when I went to check earlier, my credit cards have not been paid! When I called the bank, they told me they would take my instructions online, and then process the instructions, and then issue a cheque out to pay the credit cards! But they were unable to tell me when they would send (or have already sent) out the cheques. The whole process would take three to five working days.
Can you believe that? Should not electronic payments be instantaneous, why would a cheque be needed? If that was the case, why did they not tell me the whole procedure? I could easily issue a cheque out on my own and that would take much lesser time!
I thought paying online would be the most convenient way, but looks like it became the most troublesome way instead. I asked for the payment to be done on 1 November, and to date, it is already 7 November. Even if it was three to five working days, this is taking way too long!
The payments better be out by Friday, otherwise I would definitely give them a piece of my mind for holding up the process when it need not take that long in the first place!
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