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Kenya Commercial Bank_Withdrawal Limits
kenmac
#1 Posted : Monday, February 19, 2018 1:27:46 PM
Rank: Elder


Joined: 5/26/2009
Posts: 1,765
KCB have this withdrawal rule that is a bit frustrating.

Let say you need a withdrawal of 200k and you are in KCB Kiambu while your Branch is Kencom. According to the Tellers, you need to have the Manager approve your transaction, as long as the transaction is above 100k.

You head for the Managers office only to be told he is not in today....you can see his empty seat. Instead, you are referred to Customer Care manager, who declines to approve saying you either go to your branch, or wait until His Majesty the Manager comes back.

Everyone continues with their business as yours stall while they hoard your money.

You request to do an interbank transfer but even that requires the approval of the absentee manager.


Wharrathehell!!!

No one doubts your signature or ID card but you can't access your money.

Is this bank facing cashflow problems to want to hold onto clients' money or what is hapenning?
......Ecclesiastes
sparkly
#2 Posted : Monday, February 19, 2018 2:28:09 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,201
Location: Enk are Nyirobi
kenmac wrote:
KCB have this withdrawal rule that is a bit frustrating.

Let say you need a withdrawal of 200k and you are in KCB Kiambu while your Branch is Kencom. According to the Tellers, you need to have the Manager approve your transaction, as long as the transaction is above 100k.

You head for the Managers office only to be told he is not in today....you can see his empty seat. Instead, you are referred to Customer Care manager, who declines to approve saying you either go to your branch, or wait until His Majesty the Manager comes back.

Everyone continues with their business as yours stall while they hoard your money.

You request to do an interbank transfer but even that requires the approval of the absentee manager.


Wharrathehell!!!

No one doubts your signature or ID card but you can't access your money.

Is this bank facing cashflow problems to want to hold onto clients' money or what is hapenning?


Tell us when you find out, though me thinks it's about curbing fraud.
Life is short. Live passionately.
kenmac
#3 Posted : Monday, February 19, 2018 7:14:19 PM
Rank: Elder


Joined: 5/26/2009
Posts: 1,765
Am not sure it is to curb fraud. If anything, they still allow withdrawals of a 100k maximum per transaction....and the fraudsters can perhaps hop from one bank to the other making the withdrawals...or do several 100k transactions within the same branch
......Ecclesiastes
kenmac
#4 Posted : Wednesday, February 21, 2018 6:39:13 PM
Rank: Elder


Joined: 5/26/2009
Posts: 1,765
There seems to have been some change today. Allowed over the counter withdrawals exceeding 100k.

Perhaps they have a Wazuan Member. smile

......Ecclesiastes
target1360
#5 Posted : Friday, February 23, 2018 11:07:57 AM
Rank: Member


Joined: 5/14/2014
Posts: 270
Location: nairobi
You have not tried withdrawing from a saving s acccount at stanbic.They will have to make a phone call to you while you stand inside the banking hall and ask you so many questions.
I find satisfaction in owning great business,not trading them
washiku
#6 Posted : Friday, February 23, 2018 11:16:19 AM
Rank: Chief


Joined: 5/9/2007
Posts: 13,001
target1360 wrote:
You have not tried withdrawing from a saving s acccount at stanbic.They will have to make a phone call to you while you stand inside the banking hall and ask you so many questions.


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Angelica _ann
#7 Posted : Friday, February 23, 2018 12:01:34 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,096
washiku wrote:
target1360 wrote:
You have not tried withdrawing from a saving s acccount at stanbic.They will have to make a phone call to you while you stand inside the banking hall and ask you so many questions.


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly



Equity also does this when you are withdrawing 'huge sums - based on your account history' and they don't trust you!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Swenani
#8 Posted : Friday, February 23, 2018 12:16:40 PM
Rank: User


Joined: 8/15/2013
Posts: 12,560
Location: Vacuum
washiku wrote:
target1360 wrote:
You have not tried withdrawing from a saving s acccount at stanbic.They will have to make a phone call to you while you stand inside the banking hall and ask you so many questions.


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Poverty is the root of all evil
Bigchick
#9 Posted : Tuesday, March 13, 2018 9:08:37 PM
Rank: Elder


Joined: 2/8/2013
Posts: 3,419
Location: At Large.
It is a practice meant to minimise fraud.Most fraudstars commit their crimes in away branches.100,000 and above requires Branch Manager approval.He will interrogate you to assess your genuineness.

Its in your best interest.Hapana sirika
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
winmak
#10 Posted : Tuesday, March 13, 2018 10:24:13 PM
Rank: Member


Joined: 12/1/2007
Posts: 375
Location: Nakuru
100K surely? Hujuma
For investors as a whole, returns decrease as motion increases ~ WB
Cornelius Vanderbilt
#11 Posted : Wednesday, March 14, 2018 10:08:18 AM
Rank: Member


Joined: 8/15/2015
Posts: 817
100k is the cost o a single phone ....samsung galaxy s9
Angelica _ann
#12 Posted : Wednesday, March 14, 2018 10:11:42 AM
Rank: Elder


Joined: 12/7/2012
Posts: 9,096
Cornelius Vanderbilt wrote:
100k is the cost o a single phone ....samsung galaxy s9


For an individual it is small cash. However for the bank how many 100k transactions do they handle in one day and the cumulative figure?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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