My CIMB Bank Gold Mastercard is officially dead ! Tried to swipe the card at Speedy 1Borneo but was told their card processing terminal couldn't detect the card. Then tried again at Sunny Supermarket a few days later and was told the same thing. And the worst thing is that i have to pay RM50 to CIMB Bank should i wish to get a replacement card. WTF ?
The bank is getting a handsome share of commission from the merchant every time i swipe the card and now they want me to pay RM50 because their card has serious built quality issue ? CIMB Bank can kiss my arse goodbye.
For the record, this card was issued back in February last year (02/08). A relatively new card and it shouldn't be dead so soon. My Public Bank ATM card, which was issued back in early 2006 still work fine. No sign of rusty chip and certainly no crack despite the fact that it is a heavily used card. So much for an annual fee free credit card eh ? I'm almost certain now that no good thing can come from free stuff !
And guess what ? My HSBC ATM card, which was just replaced in January this year, too is dead. This is actually my fourth HSBC ATM card. My first HSBC ATM card was issued back when i was in Form 2 (year 2002). It was the non-chip based ATM card and depend solely on the magnetic strip.
In year 2004, all magnetic strip dependent ATM card was phased out and i was issued a new chip based ATM card at no extra cost.
When i turned 18 in 2006, i decided to close my HSBC Toprate Savings Account as that is a minor account bearing my dad signature as my account guardian. I felt that i am fully capable of managing my own money hence the closing of the account. Haha ... I then was given a new account and account number, this time an Islamic Savings Account (hence the name HSBC Amanah as it is the Islamic arm of HSBC offering Shariah compliant products) and of course a new ATM card.
The ATM card was fine. No sign of rusty chip or anything. But then one day i forgot the pin number of the ATM card and was told by their customer service executive that they couldn't reset the password of the card and they will cancel the card and issue me a new one. So there you go, RM12 donated to HSBC just like that.
My current HSBC ATM card is still very new and i barely use it when i got the replacement card six months ago. Anyway, my dad transferred some money into my HSBC account last week and when i tried to withdraw the money, all transaction was automatically cancelled without even given me the chance to select my preferred language. Tried it at two different ATMs and it was all the same. A short message - "faulty chip, refer to bank" appeared on the ATM screen. Looks like i'll have to donate yet another RM12 to the freaking rich bank ... Shoot !
4 comments:
bad materials being used....I think is the time for the material science engineers to figure out what's wrong with the chip and the card...maybe, in the other hand, the 'middle men' want to get some benefits from the process of bargain....
Was told by a friend of mine that many banks now no longer use the chip made by "GEMPLUS" because it is expensive. Most banks are now using the cheaper chip made by some substandard companies hence the bad quality. I guess you get what you paid for ... DUH !
Has anyone ever asked why HSBC fail (and refuse) to disclose on your “bank statement” the cost to HSBC of overseas currency transactions They have a COST [that they add their percentage]. SO why not tell you what the COST is? Maybe someone might discover there is a massive SCAM.?.
HSBC cleverly only show the RESULT after HSBC have “manipulated” the exchange rate adding whatever percentage they feel like The customer can NEVER check if you are being ripped off anything from 2.7% to 10% and you will never know the truthful percentage that HSBC load to each transaction. HSBC serves approximately 15.6 million customers in the UK. But will not disclose this simple information to anyone.
I have been a customer of HSBC since they took over Midland Bank and I actually asked the question and have been made to run the HSBC gauntlet for 18 months [at July 2009]. Still HSBC will not tell me the net cost to them; charged by the overseas operator.
Why? I hear you ask. HSBC has designed the almost perfect scam?; given that most HSBC customers either don't care or are blissfully ignorant what HSBC are charging. If you dare ask will you ever get a honest answer if HSBC are in the wrong. “Deny all claims” then make the customer FIGHT for any refund. Is that straight from the Arthur Daley and Trotter Enterprise School of trading? It works for HSBC who are fighting the Office of fair Trading to avoided refunding CUSTOMER’S money wrongly removed. HSBC are big and you are small and more importantly because they can plunder your account any time they like. Its then your task to take-on the largest Bank in Europe to recover your money. No one believed Bernard Madoff capable of being deliberately dishonest. I doubt if more than a few people at HSBC know that this currency exchange scam is going on but those involved should join Bernard Madoff.
HSBC apparently admit to being taken in by the smart “scam” of “Bernard Madoff gate” and claim they are victims, saying; it had exposure of around US$1bn [£607,031,250] of the US$64,000,000,000, unrecoverable losses.
Question: What is the total value of HSBC customer transactions using debit or credit cards to draw money or make purchases overseas In foreign currency, would it take; by secretly adding and removing by stealth say an extra 2% to every transaction?
Answer just £30,351,562,500 worth of transactions and the best part is that the Customer will never know and cannot find out, HSBC simply refuse to show the actual amount “loaded” by them on to their customers transaction, even when asked. Who would believe that HSBC could be so deliberately dishonest?
Question: What is the total value of HSBC customer transactions using debit or credit cards to draw money or make purchases overseas In foreign currency, would it take; by secretly adding and removing by stealth say an extra 2% to every transaction? - From Mike (refer above)
Note : HSBC Malaysia is charging 1% administration fee for all overseas trasaction. I do not work for HSBC nor am i a shareholder :)
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