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COOP BANK 50 bob ATM DEPOSIT CHARGE
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dnn
#1 Posted : Tuesday, May 22, 2012 8:07:06 AM
Rank: Member


Joined: 7/17/2006
Posts: 133

Hi,

Was recently taken back when explained to @ co-op that the 50 kshs. deductions on the statement were ATM deposit charges- I have deposits made daily for a business. Who advised them on this recent dev't?
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QW25091985
#2 Posted : Tuesday, May 22, 2012 8:10:05 AM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
equity bank mambo yote !
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Cde Monomotapa
#3 Posted : Tuesday, May 22, 2012 1:35:53 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Super profits.
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dnn
#4 Posted : Tuesday, May 22, 2012 2:21:27 PM
Rank: Member


Joined: 7/17/2006
Posts: 133

super profits pap vs future? all proper but what what does this do to their biz,-have enough clients yet?
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morre
#5 Posted : Tuesday, May 22, 2012 2:42:00 PM
Rank: New-farer


Joined: 1/5/2011
Posts: 93
dnn wrote:

Hi,

Was recently taken back when explained to @ co-op that the 50 kshs. deductions on the statement were ATM deposit charges- I have deposits made daily for a business. Who advised them on this recent dev't?


thats quite alot... especially when u dont have prior knowledge. I thot the ATM deposits were to improve on effeciencies... in terms of cost, Shame on you They shuld review that!!!!
If you dont want to use plan B, have a good plan A.
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hisah
#6 Posted : Tuesday, May 22, 2012 2:50:33 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
What are banks to do in high interest environment and tough economical conditions? They'll always sneak in hidden charges etc to try and stay a float or keep up the profit margins at the expense of, well, the customer who is refusing to take up loans...

Don't hate the game, hate the player...

Do I support this, of course not...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Marty
#7 Posted : Tuesday, May 22, 2012 2:58:35 PM
Rank: Veteran


Joined: 3/31/2008
Posts: 761
Location: Nairobi
hisah wrote:
What are banks to do in high interest environment and tough economical conditions? They'll always sneak in hidden charges etc to try and stay a float or keep up the profit margins at the expense of, well, the customer who is refusing to take up loans...

Don't hate the game, hate the player...

Do I support this, of course not...


A bank makes money out of loans. When you deposit your cash, someone is readily waiting to get a loan on the same cash. If they go ahead and charge you for depositing your cash, then it means they think you don't have somewhere to take your money.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Aguytrying
#8 Posted : Tuesday, May 22, 2012 8:06:44 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
By the way KCB has been charging me 50.00 in a savings account every month for the last 4-5 months. this was not there before????
The investor's chief problem - and even his worst enemy - is likely to be himself
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dave.kim
#9 Posted : Tuesday, May 22, 2012 11:52:06 PM
Rank: Member


Joined: 6/25/2010
Posts: 176
With the high interest rates, SACCOs have become the popular financiers for borrowing because of lower interest (18% or below). Some people are even buying off their bank loans with SACCO loans!! I think Co-op will benefit highly from this with their FOSA/Sacco Link product. In lay man's terms, FOSA (Front Office Service Activity) facilitates SACCOs to provide retail banking services to their customers and Co-op handles the money. So customers can access their accounts through Co-op ATMS with the use of SACCO link cards....
Does anyone else share my sentiments?
Rule No.1 is never lose money. Rule No.2 is never forget rule number one
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mwekez@ji
#10 Posted : Wednesday, May 23, 2012 9:15:28 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Coop is chasing away the low cost deposits by imposing such charges. Member and KCB will grab them smile
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