More Stupid Banking Bureaucracy?

[Dave Hounddriver]

I just got an email from my Philippine bank telling me that Banko Sentral regulations require that I go to my branch and give them an annual update on my contact information.  Basically, that means going in there to tell them that nothing has changed since last year and if it did then I would tell them.  I wonder what will happen if I don't bother.

Anyone else ever get a notice like this?

[Huggybearman]

3 hours ago, Dave Hounddriver said:

I just got an email from my Philippine bank telling me that Banko Sentral regulations require that I go to my branch and give them an annual update on my contact information.  Basically, that means going in there to tell them that nothing has changed since last year and if it did then I would tell them.  I wonder what will happen if I don't bother.

Anyone else ever get a notice like this?

Not so far. 

[Jack Peterson]

8 hours ago, Dave Hounddriver said:

Anyone else ever get a notice like this?

Only when I got my New chip and pin card, otherwise it is every 5 years at PNB 

Edit:

You could look at it as proof of life to protect You 

 Plus are we not the First to moan when the bank f...s up and we go in and they say well sir we wrote to you and tried to phone But we say OH! i have moved and changed my number, Well sir you did not tell us  So there is cause in many cases EH! 

Edited January 19, 2019 by Jack Peterson
Spelling AGAIN

[JDDavao II]

2 hours ago, Jack Peterson said:

Only when I got my New chip and pin card, otherwise it is every 5 years at PNB

I know we did it, like Jack above, when the banks issued new cards but I think BDO had us come in for the one you're asking about, Dave. i think the banks do things here just to keep the rubber stamp makers in business.

[Dave Hounddriver]

1 hour ago, JDDavao said:

Dave. i think the banks do things here just to keep the rubber stamp makers in business.

Ah but its not just the banks who love their bureaucracy in Philippines.  A certain company in Dumaguete is worse, much worse.  I won't mention the name.  See if anyone can guess.

They send out a bill every month, hand delivered.  You CANNOT pay until you get the bill.  No paying in advance, too easy.  You CANNOT pay for 2 days after you get the bill because they need time to enter it in the system.  You MUST pay within the next 7 days.  One day later than that and you pay a 10% late penalty.  You CANNOT pay online.  You must go to one of their authorized payment spots. . . .

So I get all spruced up and go to the authorized payment spot, since they do not allow payments online, and guess what?   The authorized payment spot was closed because . . . . . . . . .  they were OFFLINE.  Duh?  If they have to go online to pay it why can't I do it right here, right now, from my online bank account.

Perhaps the Philippines is getting to me.  I know all the BS here is better than the BS elsewhere but it still gets to me at times.

[Arizona Kid]

2 hours ago, Dave Hounddriver said:

Ah but its not just the banks who love their bureaucracy in Philippines.  A certain company in Dumaguete is worse, much worse.  I won't mention the name.  See if anyone can guess.

They send out a bill every month, hand delivered.  You CANNOT pay until you get the bill.  No paying in advance, too easy.  You CANNOT pay for 2 days after you get the bill because they need time to enter it in the system.  You MUST pay within the next 7 days.  One day later than that and you pay a 10% late penalty.  You CANNOT pay online.  You must go to one of their authorized payment spots. . . .

So I get all spruced up and go to the authorized payment spot, since they do not allow payments online, and guess what?   The authorized payment spot was closed because . . . . . . . . .  they were OFFLINE.  Duh?  If they have to go online to pay it why can't I do it right here, right now, from my online bank account.

Perhaps the Philippines is getting to me.  I know all the BS here is better than the BS elsewhere but it still gets to me at times.

Been here since 2002 and only had a Philippine bank account when I first arrived. Got rid of it after transactions refused to go through. Now I just get my funds at BPI ATM machines 20k at a time. Yes it costs a few bucks but it's easy with no hassle. It's a USA credit union that my money is direct deposited to.

Edited January 19, 2019 by Arizona Kid