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Banks that will be extinct in a few years
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sparkly
#1 Posted : Wednesday, February 03, 2016 4:46:59 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.
Life is short. Live passionately.
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enyands
#2 Posted : Wednesday, February 03, 2016 4:54:55 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


I see all of them doing that. Tip me which one is heavily notorious
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sparkly
#3 Posted : Thursday, February 04, 2016 9:31:09 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
enyands wrote:
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


I see all of them doing that. Tip me which one is heavily notorious


Without naming names. One recently issued a profit warning.
Life is short. Live passionately.
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whiteowl
#4 Posted : Thursday, February 04, 2016 10:04:04 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
I remember in 2007 stanchart was charging 3,500/= for a bankers cheque. Equity came in with 100/= n the rest is history.
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hisah
#5 Posted : Thursday, February 04, 2016 10:53:24 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
sparkly wrote:
enyands wrote:
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


I see all of them doing that. Tip me which one is heavily notorious


Without naming names. One recently issued a profit warning.

Very loaded message. The word colonial already gives away the hint smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mugo2of3
#6 Posted : Thursday, February 04, 2016 11:24:44 AM
Rank: New-farer

Joined: 5/22/2014
Posts: 78
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


This will probably not happen in the near future; They have their market niche.

The so called local banks are not so good after all.

Last week I went to reactivate my account at 'Member' and on inquiring about internet banking, was informed that it will set me back KES 1,250 initially and the same amount annually!
I loudly asked how can they be the only bank charging for E-banking but then realized I was making a point to the wrong person (CCare attendant).

This coming from the bank with the longest queues in the country makes no sense at all.

Remember the same guys charge you KES 600 for an ATM card.

Banks are like a woman, find the one with issues that you can live with.

Some of these so called local banks are a no-no for me...
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Swenani
#7 Posted : Thursday, February 04, 2016 11:30:45 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
hisah wrote:
sparkly wrote:
enyands wrote:
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


I see all of them doing that. Tip me which one is heavily notorious


Without naming names. One recently issued a profit warning.

Very loaded message. The word colonial already gives away the hint smile


I thought that colonial bank said they are selling off their african biz
If Obiero did it, Who Am I?
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Swenani
#8 Posted : Thursday, February 04, 2016 11:32:15 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
mugo2of3 wrote:
sparkly wrote:
Some colonial era banks will be extinct in Kenya in a few years.

Without naming names:-

1. Banks that require you to file 100 pages of documentation before you can open an account;

2. Banks that will not let a third party deposit a cheque into your account, unless the third party is your agent;

3. Banks that treat you like you are a bother rather than their customer;

4. Banks that pay 0.5% per annum as interest on savings account;

If you know such banks, take your business elsewhere and avoid investing in their shares.


This will probably not happen in the near future; They have their market niche.

The so called local banks are not so good after all.

Last week I went to reactivate my account at 'Member' and on inquiring about internet banking, was informed that it will set me back KES 1,250 initially and the same amount annually!
I loudly asked how can they be the only bank charging for E-banking but then realized I was making a point to the wrong person (CCare attendant).

This coming from the bank with the longest queues in the country makes no sense at all.

Remember the same guys charge you KES 600 for an ATM card.

Banks are like a woman, find the one with issues that you can live with.

Some of these so called local banks are a no-no for me...


Karibu time for more bank
If Obiero did it, Who Am I?
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kayhara
#9 Posted : Thursday, February 04, 2016 11:36:16 AM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
My bank is charging me 700/- per month for a business current account, I went to ask for a loan 150k,I bank about 700-800k pm, the business banker told me to my face that I don't qualify since I don't sell anything physical, I am in service business, wow, today I have gone to close the account and the manager is telling me not to close since head office is asking why there are too many account closures, went to another bank, I have been approved to get up to 10m using my statements, see why those old banks will fail
To Each His Own
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DBLyon
#10 Posted : Thursday, February 04, 2016 11:44:18 AM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
kayhara wrote:
My bank is charging me 700/- per month for a business current account, I went to ask for a loan 150k,I bank about 700-800k pm, the business banker told me to my face that I don't qualify since I don't sell anything physical, I am in service business, wow, today I have gone to close the account and the manager is telling me not to close since head office is asking why there are too many account closures, went to another bank, I have been approved to get up to 10m using my statements, see why those old banks will fail


kayhara, which is your new bank? They deserve new business.
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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