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Stone-age Co-op Bank
Rank: Member Joined: 2/8/2007 Posts: 808
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But meanwhile this bank you people are investing is coming apart. How are you a bank of note when you invest in a non functional core banking system which goes down for an entire week. Core banking system is down since monday. One has to wonder how reliable is reported information or is it full of smoothing journals? Been trying to bank a check and close another account but cant because the system has beeb down. Yes you can access cash because the core banking system has not been let loose on atms yet. A whole week.
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Rank: Member Joined: 2/8/2007 Posts: 808
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System down from monday. Mobile money system was down in may for 3 weeks.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Kausha wrote:System down from monday. Mobile money system was down in may for 3 weeks. Bank crisis already?  Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: User Joined: 1/20/2014 Posts: 3,528
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mnandii wrote:Kausha wrote:System down from monday. Mobile money system was down in may for 3 weeks. Bank crisis already? That explains it. I am not an over the counter chap but went to bank at T-Mall yesterday and the lady tells me you cannot bank if your account is an 'away' branch. Didnot want a fight so i left peacefully without throwing trantrums kumbe this is what is happening. Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Looks like even bank to mpesa transfer is down for all banks. In there somethinh we need to know..
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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I have been with coop for over 6 yrs now encountered both good & bad experience. For m-banking they're the worst ; I registered repeatedly for 4 times before it worked mind you I was furnishing all the details each time. max of 15k per transaction(just cumbersome if need more) others (50k per) it doesn't operate daytime only mid night (has been down on very many occasions) loan ya "kando" (flexi /branch manager's auth) so low with lots of beurocracy & high interest. ATM withdrawal limit 20k (others 50k). Bank statements semiannually but reflects period of last 3 months. They've branches & ATM' all over. Am still in. KCB once frustrated me in migrating my account for over 6 months, I couldn't transact over the counter in some branches my photo didn't appear in another my signature didn't appear (systems) Am still in because I learnt each place has it's problems. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: User Joined: 1/20/2014 Posts: 3,528
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@Boris agreed! I do Coop and Equity the 2 locals. When one is misbehaving the other sorts you out and maisha inaendelea! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Seriously, your systems cant be down every other day. Other than Jurassic Co-op, I haven't heard of another bank that turns away customers coming to deposit cash. Get a new system or get out if the kitchen is too hot co-op! NKT! Anyway I'm opening a new business account with another bank. Oh and install phones that work!
BBI will solve it :)
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Where were you turned away? The opposite of courage is not cowardice, it's conformity.
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Rank: User Joined: 1/20/2014 Posts: 3,528
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I was turned away at T-mall br. while my account is at Aga khan walk! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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I was turned away too for two days with the same story- System is down. Stone age is understatement, their systems must be the one before stone age. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 5/19/2012 Posts: 552
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Gathige wrote:I was turned away too for two days with the same story- System is down. Stone age is understatement, their systems must be the one before stone age. Was at Aga-Khan walk branch to deposit some cash,after queuing for about 20min we're told system is down. nkt. Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.... Leo Buscaglia
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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One needs to check if the banks mission is still to provide excellent service...I told long time ago the banks mission was to keep your money safe.
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Rank: Member Joined: 2/27/2014 Posts: 454 Location: Republic of Enchantment.
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The best way to deal with the bank is withdrawal all the money once the system are up, if at all they will.I am a coop customer and i am ready to pull out soonest. Divers - can you laugh in scuba gear, or will you drown? I was wondering. - James May.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Not only are their systems just too archaic, their customer service is the worst "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 8/20/2008 Posts: 83
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I was chased away from upper hill branch with a banker's requisition for a corporate account because even though my co-director had signed, they wanted to see him. I didn't know that elsewhere "... Mawingu imetanda" for other wazuans as well
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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ICT challenges. It's time banks came together and shared technological resources. It makes no sense each of the 45 banks having tier 4 data centres with a product as expensive as T24. If they all invested in one data centre, bought a single software license, economies of scale would be massive, prices would come down and competition will be on service. Same with the ATM fiasco. My favourite haunt, Uchumi Ngong Road has six ATM machines, each with its own askari, each served by the same CIT company at different times of the day - absolutely ridiculous.
CBK should put in very high capital requirements to force mergers, like they did in Nigeria, then we will have giants who can compete globally, lowering costs even further. When the nigerian banks got the muscles, they swarmed here, and will soon takeover our banking system.
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Rank: New-farer Joined: 6/30/2014 Posts: 86 Location: nairobi
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I am a very happy NIC customer after suffering in co-op for 2 years. I believe private sector banking is the way to go.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kanyimwa wrote:I was chased away from upper hill branch with a banker's requisition for a corporate account because even though my co-director had signed, they wanted to see him. I didn't know that elsewhere "... Mawingu imetanda" for other wazuans as well I have two accounts with them, one online so i asked if i can close the other and they told me no...i have to show up physically to be able to do this. Nikauliza kwani ninafunga na kifuli. Meanwhile they continue eating my money thru bank charges. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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murchr wrote:kanyimwa wrote:I was chased away from upper hill branch with a banker's requisition for a corporate account because even though my co-director had signed, they wanted to see him. I didn't know that elsewhere "... Mawingu imetanda" for other wazuans as well I have two accounts with them, one online so i asked if i can close the other and they told me no...i have to show up physically to be able to do this. Nikauliza kwani ninafunga na kifuli. Meanwhile they continue eating my money thru bank charges. 8 @murchr 2 accounts? I saw the worst when I applied a loan with them. "they" lured me into opening a second one but didn't mention any problem but technicalities came after delivering filled loan forms ; having traveled far away I was called back to close one of them & they charged me SERIOUSLY "the green ate my sweat" Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Stone-age Co-op Bank
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