Friday, July 07, 2006

Rants. Rants. Rants

This is the story.

More than a week back when, we opted to place our savings on a Time Deposit that will give us guaranteed return for the meantime. That is to regain our lost of more or less 1.7% from a placement in UITF (which turned stable now after the "second quarter storm"). As we all know, the 2nd quarter of this year was on the rocks prior to US Fed Reserve announcement of raising interest rates which turned the market volatile for the past weeks. Oh well, like what the traders said, 'When the US sneezes, the whole world get the colds'.

Back to my story.

I issued a check for the said time deposit as the usual. I know my fund was 5% short on that very moment I'm signing the check, but I bother not, coz I have the cash in me to be on deposit later, since the clearing will take 2-3days at that. After the transaction, off-we-go back home in Marilao (FCB is in Ortigas).

Now this is another story.

The next day, around 1730, I went to BPI Marilao branch to make a deposit. Not on the counter since banking hour is already due, but on their atm machine that offers deposit collections. What happened was, the deposit envelope got stocked on the slot itself, which made the machine unavaible for envelope collection. What freaked me out more was the monitor saying the transaction was unsuccessful, but the slot was already closed no matter how many times I was trying to make another transaction, taking chances it will re-open so I can push forward the envelope or pull it back. That was the time I heed for help from the bank guard. He didn't know what was going on as well, so the least I could ask from him, was a calling card of the branch and the person in charge in operating the machine.

Then again, I have a check for clearing the next day, I moved to SM Marilao (another one ride away) instead (where I usually do the deposits on machine hassle-free). I deposited two envelopes, and since the machine is new, it slided swiftly inside, got my receipts, and done my transactions.

Early morning the next day, I went back to BPI Marilao about the stocked-up envelope. My heart pounded doubled when they told me they did not get the envelope of mine. I insisted them to open the machine, and when they do, the envelope was still on the slot, right where I left it, just after the closing lid. The employee told me good thing the slot did not open, or else... Wheh! That was close!

And this story is the rant of all my rants.

That very morning, few minutes before I left to BPI Marilao (regarding the stocked-envelope), BPI C-3/A. Mabini branch (that is our accounts' branch), called me about the previous issued check. And told me I have insufficient fund. I answered them I have deposited the fund the day before which will be credited that day. And then he told me, okay, they will just wait.

Tuesday, we were on my in-laws, I chanced upon visiting our BPI branch in Caloocan and get my previous monthly statements up to date. But then, I only had the time to review them yesterday. Much to my surprise, as I was reconciling my checkbook, there is this certain P6000 debited to our account that really made me frowned frown.

I immediately called the phonebanker and found out that BPI collected fee for insufficient check fund. What???!!! That was really unbelievable! I told the phonebanker, coz I have more than sufficient fund which clearly shows on my statement of account, that on the day the check cleared, was also the same day my deposits were credited. The phonebanker advised me to give a ring my branch banker instead, which I did right away.

They explained that, that damn "automated system" (quote and quote), did the automatic back payment of that 6k fee coz my deposits were credited, yes on the same day, but late afternoon. I was really on my battle mood already and no way to tame mo, so I answered him, "That is not my darn business! Your policy vividly stated even posted on your machines, that deposit transactions made in atm after 3:00pm will be credited the next banking day. So it is not my fault that you credited the money later in the afternoon. That is purely non of my concern alright!". He just told me to write a written complaint about the matter, but I negate the idea right away, "Why do I have to make a letter? I do no wrong, I did not turn my back on my obligations issuing checks. Mine didn't lack funds, never! That is an internal issue, and internal issues should be dealth with in your own system." I capped-off the conversation telling them that if we will not be getting our money back, I gonna pull-out all our savings on their bank. He then promised the manager will just make the letter himself for an appeal, and will do their best on the issue, and get back to them on Monday for the feedback.

Hmp! One day after, I'm still raging my protest. This is a hap that I hardly gave any thought to. I mean, we maintain 4 banks, but we settled our money with BPI for its widest coverage, we are not so deserve this.

I gonna have to wait until Monday. But what if I can no longer get the money back? Is there more, or least I can do? Damn! Really damn! Pardon me, but I just really need to vent this out, hmp!