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?

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?

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

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.

Hi-Lo: Just wait a few months...

How come they havent asked me for KYC? The online system seems to have been revived, was able to log in this morning, but wonder if any orders are being processed through it.

@wote - Ati, bank statement to prove source of income???

I invest my SAVINGS not my 'income'. When was the last time Warren Buffett used his 'income' to buy stocks?

@VituVingiSana

You are not alone. I personally took my documents as requested and I was given a document to confirm receipt.

A few days later, someone called me from there asking me if I had delivered the required documents. I was not very kind to the caller as I explained that I personally delivered them. That did not stop them from calling again in connection with the documents. Do not ask me what happened after that because they never even bothered to call to tell me wheter they ever found them.

Lately I have found that I am unable to access my account to see details or make buy/sell orders. I walked to their office and was told that someone is working on the website. I could not understand why that someone could not think of putting up a flag to inform those concerned that there was "maintenance work in progress" instead of allowing one to log in only to be informed that password is not valid.

@shali KYC am informed by one Mr Nduati means KNOW YOUR CUSTOMER and you are give a deadline which actually is 18th December, 2009 in which you are expected to have submitted personal documentations/data to them.

Thanks guys for this info. I've always know CFC life to be quite slow, but i always thought that the stockbroking division was far better