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Equity Bank Cheapskate Antics
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Angelica _ann wrote:Boris Boyka wrote:Lolest! wrote:Equity has too many charges. If your account is inactive for 6 months, you will have to photocpoy your documents again and pay reactivation fees
Inactive means you are not withdrawing or paying anyone from that account. Deposits are not sufficient! es Why have an acc that you don't transaceret for 6 months?? You surely dont require it,funga......Money has to be in circulation...kuweka idle for over 6 months you need be penalised. Kuweka pesa bila kutowa. Kwani wewe ni pharmacist. Banks need to have your account to be active to charge commissions in order to earn for mreaintaining your accounts. Dormant accounts are expensive to banks. there are many reasons for that. Back when this hapened it was lengthy procedures for the transaction i was doing I closed it immediately after. upuz ingine is insisting that for a change of signature you travel all the way back to Maua where you opened your account
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Rank: Member Joined: 1/4/2015 Posts: 153
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Simply a case where equity prefer to serve quantity over quality..!! Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Lolest! wrote:Angelica _ann wrote:Boris Boyka wrote:Lolest! wrote:Equity has too many charges. If your account is inactive for 6 months, you will have to photocpoy your documents again and pay reactivation fees
Inactive means you are not withdrawing or paying anyone from that account. Deposits are not sufficient! es Why have an acc that you don't transaceret for 6 months?? You surely dont require it,funga......Money has to be in circulation...kuweka idle for over 6 months you need be penalised. Kuweka pesa bila kutowa. Kwani wewe ni pharmacist. Banks need to have your account to be active to charge commissions in order to earn for mreaintaining your accounts. Dormant accounts are expensive to banks. there are many reasons for that. Back when this hapened it was lengthy procedures for the transaction i was doing I closed it immediately after. upuz ingine is insisting that for a change of signature you travel all the way back to Maua where you opened your account You are behaving casual! Your branch retains all the rights on you for changes in your data. Even when doing a standing order at any branch...they send the documents/info to your branch to activate. That is a security measure in a way ;for almost all banks. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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ayushnehra wrote:Simply a case where equity prefer to serve quantity over quality..!! Funny! Define a quality acc holder. If you talk of numbers what of countries with multimillion populations how many customers does each bank have? These numbers have earned equity much money. e.g a small scale trader who deposits and withdraws daily is better than a salary acc holder who withdraws twice or thrice a month. Quality is illusion sometimes. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 1/4/2015 Posts: 153
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Boris Boyka wrote:ayushnehra wrote:Simply a case where equity prefer to serve quantity over quality..!! Funny! Define a quality acc holder. If you talk of numbers what of countries with multimillion populations how many customers does each bank have? These numbers have earned equity much money. e.g a small scale trader who deposits and withdraws daily is better than a salary acc holder who withdraws twice or thrice a month. Quality is illusion sometimes. you must be an employee of Equity..that support..kweli..!! I'm only saying this because because of the complaints above..!! As an individual like many others we should worry about how we are being treated and what standard of service we receive...Equity should be the one worrying about their finances but NOT compensate on Customer Service..which clearly from the reviews above you can tell they are not doing well.. Maybe you need to visit banks outside kenya and see the meaning of customer service.. Banks need to realise that without customers they are nothing..not make it seem as if without the BANk we are nothing..! Customer Service needs to improve..!! Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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@ayushnehra compare apples to apples. have you been to equity kcb coop barclays stanchart cfc......those in kenya? compare their svcs now. That foreign mentality toa kabisa. We are growing and developing step by step across all sectors. What am against is levelling flamsy accusations on a banks svc when it is a normal procedure in the sector and country as awhole. There was a thread here on banks and svcs where we talked of similarities and diffferences. NB Am not an equity employee. I don't complain anyhowly without making research on reality. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 1/4/2015 Posts: 153
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Boris Boyka wrote:@ayushnehra compare apples to apples. have you been to equity kcb coop barclays stanchart cfc......those in kenya? compare their svcs now. That foreign mentality toa kabisa. We are growing and developing step by step across all sectors. What am against is levelling flamsy accusations on a banks svc when it is a normal procedure in the sector and country as awhole. There was a thread here on banks and svcs where we talked of similarities and diffferences. NB Am not an equity employee. I don't complain anyhowly without making research on reality. No arguments service is terrible at all these places..!! We are growing?(numerically yes) theoretically are we?..in this modern age managers still have the audacity to do biashara ya kando within their working premises? and this is not some juakkali its a BANK..doesn't sound so professional anymore does it? All I'm saying is for Kenya to change people in positions need to get serious wit the little things coz they go a long way..!! Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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Boris Boyka wrote:@ayushnehra compare apples to apples. have you been to equity kcb coop barclays stanchart cfc......those in kenya? compare their svcs now. That foreign mentality toa kabisa. We are growing and developing step by step across all sectors. What am against is levelling flamsy accusations on a banks svc when it is a normal procedure in the sector and country as awhole. There was a thread here on banks and svcs where we talked of similarities and diffferences. NB Am not an equity employee. I don't complain anyhowly without making research on reality. why do guys love comparisons with majuu, conditions in kenya are different and so banks have to adopt to the same.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Signs of a bank running out of ideas and money
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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streetwise wrote:Signs of a bank running out of ideas and money Really?They are the most profitable bank in Kenya....they also have the craziest ideas around.... Formally employed people often live their employers' dream & forget about their own.
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Rank: New-farer Joined: 1/21/2015 Posts: 78 Location: Pare Pare
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I wouldn't bother to compare Equity services to local mid-tier banks like Chase, much less abroad. These guys are becoming increasingly incompetent and bureacratic. Take this example, I want an issue with my internet banking solved. I thus contact them via social media (which should be the fastest way to reach them) and they inform me to shoot them an email. Haya, wacha nitume email. They take two weeks to reply and tell me to go to my nearest branch. I get there, I'm told to go to my registered branch, as there's nothing much they can do. So I move to where I opened the account. Once there, they require a photocopy of my ID once again. I am then forced to go to the kiosk next do to get these papers. Surely, did we not provide these documents when opening the accounts? My experience at other banks gives a very different story. I am charged not less than 5,000 bob each month in Paypal and Forex fees. I would definitely want better service!  If it wasn't for this company's monopoly on Paypal transfers to Kenya... 
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Rank: Veteran Joined: 8/10/2014 Posts: 967 Location: Kenya
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Nimerudi wrote:I wouldn't bother to compare Equity services to local mid-tier banks like Chase, much less abroad. These guys are becoming increasingly incompetent and bureacratic. Take this example, I want an issue with my internet banking solved. I thus contact them via social media (which should be the fastest way to reach them) and they inform me to shoot them an email. Haya, wacha nitume email. They take two weeks to reply and tell me to go to my nearest branch. I get there, I'm told to go to my registered branch, as there's nothing much they can do. So I move to where I opened the account. Once there, they require a photocopy of my ID once again. I am then forced to go to the kiosk next do to get these papers. Surely, did we not provide these documents when opening the accounts? My experience at other banks gives a very different story. I am charged not less than 5,000 bob each month in Paypal and Forex fees. I would definitely want better service! If it wasn't for this company's monopoly on Paypal transfers to Kenya... The only reason am with Equity is paypal...they lack ATMs in major malls. Anyway at least we can have multiple bank accounts
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Nimerudi wrote:I wouldn't bother to compare Equity services to local mid-tier banks like Chase, much less abroad. These guys are becoming increasingly incompetent and bureacratic. Take this example, I want an issue with my internet banking solved. I thus contact them via social media (which should be the fastest way to reach them) and they inform me to shoot them an email. Haya, wacha nitume email. They take two weeks to reply and tell me to go to my nearest branch. I get there, I'm told to go to my registered branch, as there's nothing much they can do. So I move to where I opened the account. Once there, they require a photocopy of my ID once again. I am then forced to go to the kiosk next do to get these papers. Surely, did we not provide these documents when opening the accounts? My experience at other banks gives a very different story. I am charged not less than 5,000 bob each month in Paypal and Forex fees. I would definitely want better service! If it wasn't for this company's monopoly on Paypal transfers to Kenya... The shareholders in wazua would rather blame the client One day the masses will realise eqty is not as mwananchi as they claim to be
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Rank: Member Joined: 2/15/2010 Posts: 126 Location: Kenya
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Angelica _ann wrote:Boris Boyka wrote:Lolest! wrote:Equity has too many charges. If your account is inactive for 6 months, you will have to photocpoy your documents again and pay reactivation fees
Inactive means you are not withdrawing or paying anyone from that account. Deposits are not sufficient! Why have an acc that you don't transact for 6 months?? You surely dont require it,funga......Money has to be in circulation...kuweka idle for over 6 months you need be penalised. Kuweka pesa bila kutowa. Kwani wewe ni pharmacist. Banks need to have your account to be active to charge commissions in order to earn for maintaining your accounts. Dormant accounts are expensive to banks. Really? I would like to know these expenses because I think a dormant account is just an entry in a database.And even if this was the case shouldn't the bank seek to find out more about you then make or inform you about products that make money for them and are beneficial to you also? Nauliza tu.
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Rank: Member Joined: 8/20/2008 Posts: 83
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I have Equity, KCB and Coop. Equity tops the other two in service. Secret is to avoid CBD branches wherever possible.
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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DtheK wrote:Angelica _ann wrote:Boris Boyka wrote:Lolest! wrote:Equity has too many charges. If your account is inactive for 6 months, you will have to photocpoy your documents again and pay reactivation fees
Inactive means you are not withdrawing or paying anyone from that account. Deposits are not sufficient! Why have an acc that you don't transact for 6 months?? You surely dont require it,funga......Money has to be in circulation...kuweka idle for over 6 months you need be penalised. Kuweka pesa bila kutowa. Kwani wewe ni pharmacist. Banks need to have your account to be active to charge commissions in order to earn for maintaining your accounts. Dormant accounts are expensive to banks. Really? I would like to know these expenses because I think a dormant account is just an entry in a database.And even if this was the case shouldn't the bank seek to find out more about you then make or inform you about products that make money for them and are beneficial to you also? Nauliza tu. Its expensive because the bank makes money via transactions, the database entry has to be maintained thus the expense.
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Rank: Member Joined: 10/26/2008 Posts: 380
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nakujua wrote:DtheK wrote:Angelica _ann wrote:Boris Boyka wrote:Lolest! wrote:Equity has too many charges. If your account is inactive for 6 months, you will have to photocpoy your documents again and pay reactivation fees
Inactive means you are not withdrawing or paying anyone from that account. Deposits are not sufficient! Why have an acc that you don't transact for 6 months?? You surely dont require it,funga......Money has to be in circulation...kuweka idle for over 6 months you need be penalised. Kuweka pesa bila kutowa. Kwani wewe ni pharmacist. Banks need to have your account to be active to charge commissions in order to earn for maintaining your accounts. Dormant accounts are expensive to banks. Really? I would like to know these expenses because I think a dormant account is just an entry in a database.And even if this was the case shouldn't the bank seek to find out more about you then make or inform you about products that make money for them and are beneficial to you also? Nauliza tu. Its expensive because the bank makes money via transactions, the database entry has to be maintained thus the expense. How is maintaining a database entry expensive? Really? In any case, if the dormant account has deposits, thats the cheapest form of funds for lending, as the bank will not pay any interest on it. The bank should use that opportunity to see how it can offer more value to the dormant customers and convert them back to active customers, rather than charging a ridiculous amount, and demanding all those funny documentation. I remember the start of the revolution with Equity was that you just needed to show up with an ID, and walk out with a bank account. No need for 3 passport size photos, no recommendation from chief, wife, neighbour and all that stuff, no bills for elec/water or lease agreements, no minimum deposits of 50K, e.t.c. They simplified banking, and they need to continue doing so. Not sending people to Maua to ammend a small thing while they have long transferred to Mombasa. Branchless banking. They pushed it, they shouldnt retrogress. or have they learnt a few lessons along the way? The bank needs to listen to its customers. The common man will once wake up and realize there are many options out there. It doesn't help that the other mass market banks (KCB, CooP) are living in the same age as Equity - though i think KCB has really styled up, especially with their online platform and mobile banking platforms.
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