Ministry asks banks for service charge details

Ministry asks banks for service charge details
Claudia Theophilus
Dec 4, 04 9:36am

The Domestic Trade and Consumer Affairs Ministry wants banks to furnish it with details of the service charges they are currently imposing on customers.

Deputy Minister S Veerasingam said the ministry had made the request to all the banks two months ago following numerous complaints about the increasing number of charges that were being imposed for various online as well as over-the-counter transactions.

“Although we have so far only received verbal complaints, we have acted on it by asking the banks to give the full detail on the type of charges they are imposing on customers,” he told malaysiakini yesterday.

“In fact, many were totally unaware of these charges until later, when they realised that small amounts were being debited from their accounts.”

He said one of the complaints involved a third party who wanted to cash a cheque and was shocked when told to pay a RM2 service charge.

“This does not happen if the cheque is cashed personally by the account holder.”

Promptly and seriously

Only one or two banks have responded so far, said Veerasingam. He hoped the rest would come in soon.

“This is something that Bank Negara must look into promptly and very seriously.”

None of the central bank officials could be reached for comment.

Effective Dec 20, Maybank will start imposing a RM12 annual subscription fee for customers using its Internet banking facility, Maybank2u.com, where an upgraded posting explains the service charge.

The Maybank2u website states that fees and commissions are levied on various products and services provided by Maybank.

The move has prompted hundreds of protest e-mails to the Maybank Group Contact Centre whose response has been a standard format e-mail to all customers, regardless of their queries or suggestions.

An online petition is currently making its rounds via e-mails asking the Malaysian, Singaporean and Filipino customers of the country’s largest banking group to show the power of consumers by signing it before Dec 19.

Don’t remain silent

Referring to the latest charge by Maybank2u.com to be imposed, the petition said it was ridiculous to pay service charges for “keeping our money in your bank”.

“You (Maybank) use our money to invest in your projects. You give us minimal interest, and you ask us to pay for using services that are given free by other banks!” read the petition, partly in English and Bahasa Malaysia.

The protest note also claimed that Maybank was the only bank to charge 50 sen for withdrawing “our own money” at the ATM for every withdrawal exceeding four times a month.

In Bahasa Malaysia, the note expressed regret that customers did not protest against the 50 sen charge when it was first imposed a few months ago.

“If we continue to remain silent, I’m sure the banks will impose more charges on us in the future.

“It is because we had failed to protest previously that this is happening now. Come, let’s act. Enough is enough!” the petition concludes.

“Let’s teach them (a lesson) by clicking on the ‘reject’ option on the subscription page in protest of their new terms.”

The petition ends with a call to all Malaysians to show their consumer power by uniting behind this one issue.

Maybank should rethink online services charge

Maybank should rethink online services charge
TSN
Dec 2, 04 1:51pm

I am in total agreement with Rachel on the subject of Maybank's unwarranted imposition of charges for using their online portal Maybank2U.com.

Maybank claims that the charges amount to only RM 1 per month. It is not so much the amount that is objectionable but the principle of it. Banks seem to think that once they have the numbers in subscribers they can put the screws on after that.

That reminds me of the high-handed tactics of Makro years ago when they wanted to impose a RM50 fee for the renewal of their membership cards. Their plan eventually fell apart as the public was all against it.

Maybank may want to a serious rethink, for numbers can come and numbers can go as well.

Maybank wantonly imposing charges on online clients

Maybank wantonly imposing charges on online clients
Rachel
Nov 30, 04 3:36pm

I would like to draw your attention to the recent announcement by Maybank that it will imposing a half-yearly charge of RM6 for users of its Maybank2U online portal.

As a consumer and customer of Maybank services, I strongly disagree with their plan to charge for online banking services. Maybank is charging as it like without due concern to financial pressures on the consumers.

Online banking services are a value-added service and are in line with the new standard and era of both local and international banking line. If Maybank feels it is implementing it at a high development cost, then they should restudy their business plan and not pass on the costs to their clients.

Maybank is not alone. Many other banks too, are imposing unnecessary charges on their clients who are already burdened with numerous banking costs.

I sincerely hope that Bank Negara will step in and direct banks to cease burdening their clients unnecessarily. The central bank should take this plea seriously before all lose faith in the banking institution.