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CFC Stanbic Financial 'lost' my documents
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VituVingiSana
#1 Posted : Tuesday, December 15, 2009 7:03:34 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
What a crock of shyte!

CFC Stanbic Financial was unable to trace my Account Opening documents (plus other details/letters) & asked me to provide fresh documents.

I am so pissed off at CFC Stanbic (the bank & the broker).

Is it just my bad luck with them or have others faced similar problems?

How do I know my documents (copies of ID, etc) are safe at CFC Stanbic?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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JeanLucPiccard
#2 Posted : Tuesday, December 15, 2009 8:02:40 AM
Rank: New-farer

Joined: 12/9/2009
Posts: 23
Location: Nairobi
Wow.. Sorry my guy. Thats just gross negligence.
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VituVingiSana
#3 Posted : Tuesday, December 15, 2009 8:38:12 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
Kwani they sent them to the nexus?

If they are genuinely lost... yaani, destroyed... sawa... lakini how do I know some jamaa buying roasted maize does not get my documents as wrapping?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Gordon Gekko
#4 Posted : Tuesday, December 15, 2009 8:46:30 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
I also seem to be developing impatience with them. The online system has been down for a while, emails take at least a day to be responded to....
I just don't know which broker to transfer to, as I get the impression that they are all the same.
Which account are they asking you for details for? The broking account?
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kizee
#5 Posted : Tuesday, December 15, 2009 11:41:08 AM
Rank: Member

Joined: 1/9/2008
Posts: 537
VVS

just back from cfcfs,they lost my details too i had sold shares and they said they cant giv me the cheque until i provide the details including a utility bill and another list of paraphanelia...please note i worked at the bank for 5 years odd so all these details are at theyr disposal...theyr KYC requirements are ridiculous
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FundamentAli
#6 Posted : Tuesday, December 15, 2009 1:06:35 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
I also recieved a letter with the heading KYC. Got a little confused as had done away with my old junky. I had to call them and ask them what the problem was. Luckily, I am recent customer and most of my info is in the system. I still have to give them some additional information. They say that they had a system upgrade. There must be a Wazuaji at CFC.
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minto
#7 Posted : Tuesday, December 15, 2009 3:38:58 PM
Rank: Member

Joined: 12/31/2006
Posts: 13
For an investment account with 2.5mm i just have had it with them.
1. They have misplaced my deposit three times since they upgraded systems.
2. I submitted a buy order and they processed a sell. My buy order clearly stated by shares which i did not own in the portfolio.
3. They duplicated my buy order.
4. Their online system is down.

Now i here about KYC. Those docs were submitted when accounts were opened, they have a nerve.

Can somebody post chris mwebesa's email so that we can write to him. Theyre seems to be a big problem which unless addressed will result in flight to other brokers. Problem is all brokers are the same....
May be if they continue accumulating losses heads will roll.

Happy investing.
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Hi-Lo
#8 Posted : Tuesday, December 15, 2009 4:48:54 PM
Rank: Member

Joined: 10/5/2007
Posts: 91
...seems it's only me these CFC guys are serving properly...haven't filled their KYC...but I am buying/selling hustle free even today...the nasty fictitious queues seems to have gone with the guy they sacked who I suspect was an avid SK blogger who'd blog instead of posting orders ...anyhow because I am new transferee they know I can move...again...
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  | | Edit by user: Tuesday, December 15, 2009 4:52 PM | Reason: Not specified
VituVingiSana
#9 Posted : Tuesday, December 15, 2009 10:11:49 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
Hi-Lo: Just wait a few months...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mdosi
#10 Posted : Wednesday, December 16, 2009 6:03:51 PM
Rank: Member

Joined: 2/1/2007
Posts: 112
Location: Nairobi
These guys have become so useless that i had to move to sterling investment bank. I made a comment a while back about their poor service on the 'kq up up' thread after their inefficiencies made me miss KQ at ksh 21. I went there to protest when i received their letter on KYC requirements since i had submitted most of the documents earlier this year when i moved there. They alleged that they were updating clients details but how do you update ID copies and company certificates? I threw in the towel when credit uploads from their own bank(cfcstanbic) started taking up to a week while action on emails took at least 2days. The long queues did help either. All the best to all those still trading with them.
It's amazing what you can achieve when you get rid of fear.
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  | | Edit by user: Wednesday, December 16, 2009 6:06 PM | Reason: Not specified
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