wazua Tue, Mar 31, 2026
Welcome Guest Search | Active Topics | Log In

2 Pages12>
Lending to Equity Bank Employees
Investor1
#1 Posted : Thursday, June 20, 2013 8:49:06 AM
Rank: Member

Joined: 1/20/2009
Posts: 13
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

There seems to be a collusion with the clearing department who normally return cheques on technical reasons when the said employees have no money in the account or are avoiding to pay the loan.

So credit practitioners, be worry of lending money to the Bank employees unless the facility is fully secured, otherwise your cheques will most often than not be returned on technical grounds!


VituVingiSana
#2 Posted : Thursday, June 20, 2013 10:34:00 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

There seems to be a collusion with the clearing department who normally return cheques on technical reasons when the said employees have no money in the account or are avoiding to pay the loan.

So credit practitioners, be worry of lending money to the Bank employees unless the facility is fully secured, otherwise your cheques will most often than not be returned on technical grounds!
Ouch! Doesn't that attract charges as well?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
maka
#3 Posted : Thursday, June 20, 2013 10:54:32 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

There seems to be a collusion with the clearing department who normally return cheques on technical reasons when the said employees have no money in the account or are avoiding to pay the loan.

So credit practitioners, be worry of lending money to the Bank employees unless the facility is fully secured, otherwise your cheques will most often than not be returned on technical grounds!



There is a legal way to go around this...unless you tell me Equity will also pay the judges...eazy peezy
possunt quia posse videntur
King G
#4 Posted : Thursday, June 20, 2013 1:34:54 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
what technical reasons do they give for returning the cheque. reasons for returning the cheque unpaid are guided and coded by CBK and are uniform in the clearing house.
Thieves
MaichBlack
#5 Posted : Thursday, June 20, 2013 2:20:17 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,869
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

d'oh! d'oh! d'oh! d'oh! d'oh!

How many Equity Bank employees do you know who have done this????

I just love Kenyans. Maybe you know of two people who happen to work for Equity Bank who have done this and all over sudden we have a thread "Lending to Equity Bank Employees..."!

You must have concrete figures before you allege there is a pattern to something. Or you can as well divorce your wife if she is from Zimmerman because "Zimmerman wives organize for the murder of their husbands!".
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Mukiri
#6 Posted : Thursday, June 20, 2013 2:35:29 PM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
MaichBlack wrote:
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

d'oh! d'oh! d'oh! d'oh! d'oh!

How many Equity Bank employees do you know who have done this????

I just love Kenyans. Maybe you know of two people who happen to work for Equity Bank who have done this and all over sudden we have a thread "Lending to Equity Bank Employees..."!

You must have concrete figures before you allege there is a pattern to something. Or you can as well divorce your wife if she is from Zimmerman because "Zimmerman wives organize for the murder of their husbands!".

Laughing out loudly Laughing out loudly Laughing out loudly Yenyewe that statement was too far-fetched.. Clearing house has a handful of guys whilst the bank employs thousands, do they discus the modalities during end-of-year party?d'oh!

Proverbs 19:21
Caramba
#7 Posted : Thursday, June 20, 2013 3:42:57 PM
Rank: Member

Joined: 10/27/2010
Posts: 266
Location: Nairobi
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

There seems to be a collusion with the clearing department who normally return cheques on technical reasons when the said employees have no money in the account or are avoiding to pay the loan.

So credit practitioners, be worry of lending money to the Bank employees unless the facility is fully secured, otherwise your cheques will most often than not be returned on technical grounds!




Most banks are very strict on the issue of unpaid staff cheques. Bounced cheque=Instant dismissal.

Some, however, allow their staff to get away with a slap on the wrist. Kcb comes to mind.
Investor1
#8 Posted : Thursday, June 20, 2013 4:59:21 PM
Rank: Member

Joined: 1/20/2009
Posts: 13
The fact that it's illegal to bounce a cheque on account of insufficient funds and closed account, the said staff member use technical reasons like signature differs.

So far I know of about 113 employees which I think it's a sizable number.
VituVingiSana
#9 Posted : Thursday, June 20, 2013 11:51:59 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
MaichBlack wrote:
Investor1 wrote:
I wonder what has come of Equity Bank employees who have been borrowing Money in most of the micro finances and Banks and defaulting on the same.

d'oh! d'oh! d'oh! d'oh! d'oh!

How many Equity Bank employees do you know who have done this????

I just love Kenyans. Maybe you know of two people who happen to work for Equity Bank who have done this and all over sudden we have a thread "Lending to Equity Bank Employees..."!

You must have concrete figures before you allege there is a pattern to something. Or you can as well divorce your wife if she is from Zimmerman because "Zimmerman wives organize for the murder of their husbands!".
Women from Nyeri bashing their hubbies/boyfriends & random men. Starting with one ex-First Lady who slapped a cameraman after she stormed into a mediahouse's offices! d'oh! d'oh! d'oh!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mukiha
#10 Posted : Friday, June 21, 2013 7:52:49 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
Investor1 wrote:
The fact that it's illegal to bounce a cheque on account of insufficient funds and closed account, the said staff member use technical reasons like signature differs.

So far I know of about 113 employees which I think it's a sizable number.


Not in Kenya it isn't!

Read the banking act again.

The last time we tried to make it so, the MPs said they are being "targeted" by the banks... as it turns out, MPs are the most notorious with bouncing cheques.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Copyright © 2026 Wazua.co.ke. All Rights Reserved.