Our corporate bullies

Nov 18, 2019 Letters

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Dear Editor,
I wish to state at the onset that I am most unhappy about penning this letter because I have enjoyed a positive and productive relationship with Republic Bank which spans close to two decades, if not more.
I also wish to state at the outset that the top management at Republic Bank, very probably Guyana’s largest bank, has over the last decade or so, really allowed its customer service to deteriorate well beyond what is acceptable, so much so that disregard for customers, at least the regular man-in-the-street (I’m quite sure that they do not treat their well-to-do customers with the disdain meted out to off-the-road customers) has become the norm.
Recent events have caused me to wonder if Republic Bank (Camp Street Branch) is allowing itself to become a pawn in our national politics. I received a letter from them indicating that they had now classified the account for the Democratic National Congress as inactive, after being opened for just in excess of one year, and that they would begin deducting $200 from it until I had it reactivated by making a deposit (If this isn’t squeezing customers…).
This is even in light of the public activism of the DNC over the last year. My father who died since 2003 had an outstanding balance in an account at Republic Bank.
They always advised about the balance on his account years after he passed on (the account was obviously dormant, without deducting any service charges. But they are deducting service charges for the account of the Democratic National Congress after just one year of dormancy.) It would be instructive to determine whether I am being harassed simply because the DNC is a small political party, as the Loans Officer informed me while discussing another matter.
One of the things about which I am almost sure is that Republic Bank does not send letters out to all accounts, which go dormant after one year, which makes this a selective and discriminatory act, which must be condemned, and I suggest investigated to discourage such occurrences.
I went into them Tuesday, November 05, 2019 to make a deposit, but couldn’t because of the long lines. Another problem with them is documented below.
The following occurred even as the bank kick-started its campaign for the Christmas Season, and has a running ‘Make It Happen’ loan programme (the generous philosophy of this programme is unbelievable in light of my experience documented here).
I applied for a personal loan since Wednesday, November 06, 2019- less than G$250,000- and I’m being given the royal runaround.
I went in to them Tuesday, November 12, 2019 only to have my Loan’s Officer saying some nonsense about the DNC being a small party.
I’m applying for a personal loan, mind you, to replace my spectacles and finance some minor party activities.
I spoke to her supervisor the same day, who told me that my file was sent (physically; he called to inquire about it) to Head Office, and that he would call Wednesday.
I am quite curious about branches sending files to the Head Office to query small loans, because then they would have to employ more vehicles for this activity.
These people made a 22.7% increase in after-tax profits last fiscal year, and they can’t make a decision on a small loan (less than $250,000) at the branch.
I didn’t receive a call on Wednesday, as promised. The Loan’s Officer told me on November 14, 2019 that she took down the wrong phone number.
I have an existing facility with the bank, 13 years and more borrowing from them, and she’s telling me she took down the wrong phone number.
This is not stupid, but I would like to suggest, downright deceitful, and customers should seriously consider how much they can trust these smiling Loans Officers if they are lying to you.
I spoke to the Branch Manager the same day, who asked me to give him a call on November 15, 2019 at around 9:00hrs.
I informed him that I agreed to restructure my loan, as was advised by retail section, so that the file should be returned to accommodate this.
On Monday, November 18, it will be Day 10.
I am hoping this catches the eye of their supervisors and put some stimulus into getting on with my application processed.
Strangely enough, I told the Loan’s Officer, it was very possible I would mention her on Facebook for her excellent service. Well, what do you know…!
As we’re on the subject, the bank’s management should by now be aware that their customer service to open accounts and perform other ancillary services for customers at both the Camp and Water Street branches is sickeningly time consuming.
I find it difficult to imagine that in this day and age, they have never heard of time management. If the current practices are advised by time management, then something must be really very wrong.
Craig Sylvester

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