During the UMNO-BN rule, many banks suddenly stopped sending monthly bank statements to customers, and informed customers to get their statements online. Even the Bank books are being done away with - so even when we go to the bank to update our Saving Account Books - banks are saying that the service is no longer available.
Now, this was done to all customers - not just customers who were then already doing online banking, which generally are members of the younger generation. There was even no agreement sought from bank customers before this was done. When we went to certain banks to get our statements, customers were 'forced' to agree to this getting of bank statements online...This was must unjust.
For the older generation (maybe those 45 and above) and for the poor who do not have a computer and internet(or a printer) to be able to print out this statements, check it and keep a copy for record purpose, this is a major problem...
For PESARA(pensioners), now they cannot even check their bank statements to ensure that pension has come in, and that no monies have been 'stolen' or 'disappeared' from their accounts.
POLICY CHANGES REQUIRED FOR CUSTOMERS OF BANKS
- Banks must continue to send printed detailed bank statements, especially to those above 45 and the poor especially MONTHLY bank statements. For workers too, they need the statement to verify that their wages have been banked in, rental have been banked in, and even to ensure that suppliers of utilities and services(that convinced some to agree to these service providers to automatically take money out of accounts to settle bills by some e-pay scheme)
- People need to know that they are not being cheated or that all is correct with regard their bank accounts. They must know that no one has 'hacked' their accounts and taken out monies wrongly.
- Ordinary computers, will not have the security aspects, making it easier for anyone to hack and get needed passwords, etc which may result in them being able to take out monies from people's accounts.
- Many chose not to use 'internet banking'...and rather still prefered to use ATMs to take out their monies and personally go pay their bills are still so many as evidenced as payment points like Pos Laju, TM, etc
- At the very least, if banks are having problems sending printed monthly detailed statements, then at the very least DETAILED printed statements should be send once maybe every 3 mnonths..
AMANAH SAHAM - Likewise, the different unit trusts must be required to send printed STATEMENTs at least once every 6 months, to inform consumers the current standing of their accounts including the 'interest' gained.
There have been rumours circulating that some service providers may also STOP sending monthly BILLS - this again is not right. BILLS should be send to consumers if payment is required. With Bills, payment will be made at Pos Laju or other premises who now accept payment from service providers.Most of the time, people may ask friends to help pay the Bills. Hence, sending to an email is not practical, as how many Malaysians have printers to print these Bills.
What this service providers are planning is probably to 'force' people to agree to some 'e-pay' system, where the consumer agrees to the service provider directly taking monies from personal accounts of the consumer....to probably avoid possible cut in services...This is not right...This is not just?
For example if TM stop sending Bills, TM also will cut phone services and will not restore the services until the Bill is paid. Problem is that 'No BILL came' --and sending the Bill by SMS or emails will not help - for majority are not so computer savvy...especially the older generation, maybe those 40 or over..
The PH government must stop any such moves to stop sending printed BILLS.
The argument that may be used by some of this Banks, Unit Trusts and service providers is that this is to protect the environment - to become a paperless society >> but the problem is that most in Malaysia do not have a computer and/or printer, or are even computer savvy...
Many people still find it most difficult reading online - they prefer to 'print out' and read.
THIS IS THE MONEY OF ORDINARY PEOPLE - THEY MUST BE PROVIDED DETAILED BANK STATEMENTS, DETAILED UNIT TRUST STATEMENTS...AND CERTAINLY DETAILED BILLS THAT NEED TO BE PAID...
A summary of money coming in and going out does not help - because people want to check details - how much 'pension', 'wages', share dividends received on this date for what shares, how much rent received, how much they paid to TM or CELCOM...etc Details are important to ensure that money is not 'secretly' siphoned out...
ACCOUNTABILITY demands such detailed statements be sent to all in Malaysia on a regular basis...people may even be willing to pay 'minimal fees' to receive such statements...[But for existing customers of banks, it is not right to suddenly start imposing such fees...maybe for new bank customers..]
An Agreement between consumer and bank cannot simply be altered by one party - and this is what Banks did, without the explicit informed consent of the Consumer. This is what happened during the UMNO-BN reign...
As it is Banks are today giving such low interest for savings (even fixed deposits) and charging so much interest for loans...
HACKING is a reality, and it is easy to hack personal computers/smartphones. Even government and bank computers have been hacked. So, if someone hacks your computer and gets access to your accounts and starts taking out the people's money, and without monthly 'DETAILED BANK STATEMENTS', many will not be aware for a very long time that money is being taken out wronglyby some 'crook'...Even ATMs have increased security - Detailed printed statements are really needed...
DATA PROTECTION - Sometime ago, I received a letter from an Insurance Company asking me to agree that pay-outs be directly banked into my Maybank Account. [What was strange is that I do not recollect ever giving the said Insurance Company my Bank account number - How did a private Insurance company get my bank account number?
HELP CONSUMERS - PRINTED DETAILED BANKING STATEMENTS SHOULD BE SEND TO ALL BANK CONSUMERS, BEST EVERY MONTH. FOR UNIT TRUST LIKE AMANAH SAHAM, PRINTED DETAIL ACCOUNTS SHOULD BE SEND AT LEAST ONCE A MONTH.
BILLS FOR UTILITIES MUST CERTAINLY BE SEND TO CONSUMERS - DETAILED PRINTED VERSIONS.
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