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KCB: Firmly in the stoneage
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kizee
#41 Posted : Wednesday, December 09, 2009 2:17:47 PM
Rank: Member


Joined: 1/9/2008
Posts: 537
kcb has a very effective PR team,...i wonder what the response of the PR folk from kcb is...surely one of u must be a lurker/member in/of this forums...or shud we attend one of the many kcb sponsored rallies to get an answer???...
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VituVingiSana
#42 Posted : Wednesday, December 09, 2009 3:31:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
@stonemimi - I have tried NBK & KCB as well... Both were OK back in the day but I bailed from NBK during their problems...

Treasury only guarantees 100k & post-goldenberg 100k was losing value fast. So when banks started collapsing & on the advise of a businessman I moved to a multinational bank. Then I figured better to buy their shares!

HFCK - I also had an account at HFCK... lakini that passbook was crazy! Ended up using the cash to buy HFCK shares. Much better than low interest!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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bnti
#43 Posted : Thursday, December 10, 2009 6:04:54 AM
Rank: New-farer


Joined: 12/9/2009
Posts: 5
Location: nairobi
Which bank would you recommend for a business account? Most banks seem to have very stringent requirements on account opening but im more interested in efficient, service etc
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mukiha
#44 Posted : Friday, December 11, 2009 6:49:41 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@bnti: The easiest place to open any account is Equity Bank. But after opening, you will have to contend with long queues.....
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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anasazi
#45 Posted : Friday, December 11, 2009 7:59:36 AM
Rank: Veteran


Joined: 6/8/2007
Posts: 675
Those long queues @ EQUITY are total put offs. I always wondered why banks have these crazy requirements for business accounts. Si wanataka pesa zetu?
Form is temporary, class is permanent
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bird_man
#46 Posted : Friday, December 11, 2009 9:07:42 AM
Rank: Veteran


Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
AML policy.....Anti Money Laundering policies and KYC from CBK have to be followed when opening accounts (esp business accounts).Of late we have so many fake businesses opening accounts and more so from our Somali brothers.They will open an account for a small restaurant but the amounts you get being deposited into those accounts is more than what such 10 restaurants could ever make.
Formally employed people often live their employers' dream & forget about their own.
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VituVingiSana
#47 Posted : Friday, December 11, 2009 9:11:41 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
@birdman beat me to it... lakini the KYC is getting krazy!

My old account (hardly used) at CFC Stanbic. Many years. Get a call... ati fill in KYC papers! Kwani??? Where the *eff are my old forms I filled? The copies of my ID?

Did they sell thm to maize sellers?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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bird_man
#48 Posted : Friday, December 11, 2009 11:19:35 AM
Rank: Veteran


Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Hehe!Its happening in all banks VVS.Those days when you opened the account it was just "good manners" to do KYC.These days CBK says you will not get your banking license renewed if you cant prove you did KYC when opening customer accounts.That's why you are getting the calls. All the same, I think they should do it but make it easier or assist guys to fill those forms. I have seen a Somali owned restaurant that banks crazy amounts into some account somewhere and I sometimes wonder whether it could be piracy money.It's crazy!KYC is a must.
Formally employed people often live their employers' dream & forget about their own.
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gk
#49 Posted : Friday, December 11, 2009 4:03:43 PM
Rank: Member


Joined: 5/17/2008
Posts: 488

BOA (Bank of Africa) officially launched their 9th branch yesterday at Nakumatt Lifestyle.

It's open from 9am-8pm Monday to Sato.
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VituVingiSana
#50 Posted : Saturday, December 12, 2009 9:22:09 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
@bird-man

Lakini, si I had done they shyte back then... kwani?
Even back in the day, there used to take copies of my ID as well as info. It's not like I walked (CFC at the time) & deposited cash & received a chq book!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Gordon Gekko
#51 Posted : Sunday, January 03, 2010 1:38:26 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
KCB is truly stoneage. I have an account with them and each month I need to deposit some money into another KCB account. Doing a transfer costs ksh 100. Withdrawing the cash from the ATM outside then depositing it costs only ksh 30 (ATM fee). Shouldn't account transfers that are less than the ATM withdrawal maximum cost at most the ATM fee?
I have just seen my interest paid for 2009. A whopping ksh 250 for a SAVINGS account that had at least ksh 50K throughout the year - and that before taxes.
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muganda
#52 Posted : Monday, January 04, 2010 5:17:10 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
I don't bank with KCB but they saved my ass on 24th.

Was in Sarit with family and had to send money urgently via MPesa. After queuing at Sarit Safaricom shop for some time, I was told since there were many people waiting, I could only get MPESA for about 5,000/= which was half amount I needed. Queue at Uchumi Sarit was too daunting too attempt.

On the way out, STRANDED, met some friends who offered to get me the MPESA. The guys just started fiddling with their phones and Voilaaa! Somehow, enough chumz came from the KCB account and we exchanged money - didn't find out how much it costs - nifty though!
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se7en
#53 Posted : Monday, January 04, 2010 5:37:11 AM
Rank: Member


Joined: 11/27/2006
Posts: 108
muganda wrote:
I don't bank with KCB but they saved my ass on 24th.

Was in Sarit with family and had to send money urgently via MPesa. After queueing at Sarit Safaricom shop for some time, I was told since there were many people waiting, I could only get MPESA for about 5,000/= which was half amount I needed. Queue at Uchumi Sarit was too daunting too attempt.

On the way out, STRANDED, met some friends who offered to get me the MPESA. The guys just started fiddling with their phones and Voilaaa! Somehow, enough chumz came from the KCB account and we exchanged money - didn't find out how much it costs - nifty though!




thats an excellent move from KCB...linking accounts to mpesa... wish all banks would follow that esp those with long queues... que dites-vous Equity?
speak softly and carry a big stick, you will go far... Theodore Roosevelt
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kizee
#54 Posted : Monday, January 04, 2010 7:11:07 AM
Rank: Member


Joined: 1/9/2008
Posts: 537
The mbanking product is quite revolutionary if only they(kcb) wud sell it more agressively and thus cut queues at theyr atms and banking halls...i hav used it for all manner of transactions...paying elec water my fone bill..i beleiv u cud even pay for dstv with it..not too bad IMHO...OH i forgot to add...u can also get a mini statement and ur bank balance as well as ur card balance and card mini statement
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Intelligentsia
#55 Posted : Wednesday, January 06, 2010 7:46:12 AM
Rank: Elder


Joined: 10/1/2009
Posts: 2,436
I got a Visa Credit Card with DTB mid last year and was jazzed.

So as to get a good grip on how much am spending on fuel, I always use the card to fuel and I get an sms update instantly (while the attendant is still fuelling) telling me the amt they have swipped my card for, the name of the station and a no. to call in case that is not my transaction. Talk of real time service. Technology has surely come a long way.

Jangwa, am shocked that a 21st century bank can tell u to wait for 2 days for a simple inhouse book transfer.
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