When customer isn’t king

Do you ever get that sinking feeling at the end of the day? You know, when nothing you do seems to work. No matter what you say, write, explain or plead makes the slightest difference on earth. When you think the whole world is against you, and you just want to scream as loud as possible. When you just keep banging your head against a brick wall.

Sounds familiar? Well I guess then you too must be have a UAE bank credit card. Over the past few months, I have been compiling anecdotal evidence from readers on which bank offers the very worst customer service in town.

There have been many contenders: Standard Chartered features prominently. HSBC can always be relied upon to infuriate, while lately even Lloyds TSB has joined the club. A string of local banks have also done their best (worst) not to be  left out of the league of non-performance.

Here is a quick potted history of my own experience with one major  bank, which it’s best I don’t name for legal reasons (it’s the weekend, I have plans…etc).

May 1: Decide to cancel my bank credit card. Ring customer services, they tell me to pay AED6,300.

May 4: Make AED6,300 cash payment, cut the card and chuck it in the bin.

May 29: Sent new bill from the bank, demanding AED119.48 in late payment charges. After I call, they say it’s a “mistake” and will be reversed.

July 2: Sent new bill from the bank, demanding another AED149 in late payment charges for not paying the AED119.8. After I call, they say it’s a mistake and will be reversed.

July 8: Sent further bill from the bank, demanding AED400 for “annual membership fee” (for a card I have already cancelled). After I call, they say they will investigate.

July 28: Sent new bill from the bank for AED836.45. When I call, they say my file has been blocked for non-payment, they can no longer deal with me – authorities are investigating. They may cash the security cheque, and if it bounces, I can expect a spell behind bars. “It’s not worth going to jail for 836 dirhams my friend,” says the woman from the bank.  (I declined to ask her when we became friends).

So how can this happen? How can reputable banks perform so disastrously when it comes to customer service. I have no choice but to pay AED836.45 for a card I don’t even have. How many other customers have been ripped off like me? Who is has been screwed over, and by how much?

The problem regional banks are facing is that in the past, they only knew good times. Like estate agents, they just picked up the phone and took orders. No checks were really made on suitability – only three words mattered: lend, lend, lend.

With customers lapping up every card they could grab, few people paid attention to interest rates, other fees and the regular mistakes in bills. When you have thousands of willing and hungry customers, why bother with customer service?

Of course the world has changed dramatically this year. Companies now need to fight for new customers, and work even harder for customer loyalty. So far, few if any have realized this.

PS Any guesses which bank I am talking about?

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READERS' COMMENTS

Banks ha!
Posted by Sal, Dubai, Canada on Tuesday 4 August 2009 at 17:44 UAE time


From my experience in Dubai. Best bank to deal with NBD Emirates (avoid any foreign banks at any cost). It is not that NBD is great but better than the lot.
Credit card, nothing better than a RAK one that with a cashback option is the best.
When in trouble, leave the country, don't open up to the bank, just escape.

Thanks AB ......
Posted by Minumaster, Dubai, UAE on Tuesday 4 August 2009 at 12:17 UAE time


Thanks Arabian Business for posting my comments. Let's hope someone right on top at RBS/Mashreq Bank reads this and responds! OR Someone really on a top position at UAE's Central Bank reads this and suggests appropriate action against these banks .......... Thanks once again AB.

Bailout Victims
Posted by bmad, Dubai, United Arab Emirates on Monday 3 August 2009 at 19:26 UAE time


"Customer is king"only when their lifelihood depend on us the customers. Most small and medium size companies bend over backwards to please and retain their customers . Unfortunately large corporations such as banks, airliners etc do not worry to please their customers as much. Because the minute they get into financial troubles they will get bailouts from the respective Governments. Losing customers are not going to bother them at all. So these corporations act like they re too large and important to be let bankcrupt by the govts and the employees (most)act also as they are too important to be cut loose. The results are felt by us.
I have lived in the US,Asia(Singapore and Malaysia)and the Middle East(UAE) and i can say that the services are only slightly better in these so called developed countries.
The countries that practice tippings are the best services providers.
Back to the banks and other financial institutions, i get really annoyed that they have the audacity to give out bonuses in billions of dollar barely 6 months from getting bailouts from their governments.
Parasite has new meaning in the dictionary.

Banks
Posted by AayTee, Dubai, UAE on Monday 3 August 2009 at 17:46 UAE time


I noted with utter disdain the commenst made on this page and realized that there are thousands such people who are suffereing and there is no one to help. Bankers , specially in the UAE are actually sponsored criminals who to justify their fat salaries , use loose banking laws and ignorance to fleece customers. Try asking a banking professional to work in any other sector. They simply can not. Someone mentioned contact the CEO's. My friend, you should not contact a dacoit to complain about a thief.
A person known to me owed some money to the bank, lost his job, contacted the bank to make some alternatives. The bank made his life miserable. Another buddy , owed a lot to banks, he could not pay. He just left the country. He is not bothered at all now. LESSON: Do not expect courtesy from Banks. Down them , when ever you can, wherever you can! Period

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