Recently my partner and I ventured to open a fixed deposit (FD) at a benchmark private sector bank in the country. The two of us have banked at the said enterprise for some time now, personally and independently of our own accord, utilising their services.
Now this bank is one that has promoted itself for commemorating over a century of service, while sporting braggadocio of offering its patrons a superlative service and technological superiority, even ranked as one of the “top 1,000 banks in the world”.
Bad experience and waste of time
When we reached the bank branch located in Mount Lavinia, it was rather crowded, being a Monday, and we couldn’t find anyone working there to offer us any help. One of the security guards inquired us on our requirements, and after disclosing our purpose, the man (who was actually quite nice and more friendly than the staff) advised us to take the stairs to a higher floor and speak directly to the manager.
We went to the respective floor and the manager was a little busy, so we waited our turn to go speak with her. After 10 or 15 minutes we go to her room, where she neither greets nor acknowledges us with the courtesy of a manager, and remains seated as we take our seats and explain that we have an amount we have raised and that we would like to open an FD.
She tells us that is fine and immediately starts pitching and selling us a new FD scheme with higher interest, for which we are eligible. After considering and contemplating the FD facilities she presented, we asked her what the annual interest was for one of the aforesaid schemes. She told us the interest based on the sum we had, which was fairly impressive. We then inquired how we could go about opening the FD, and if she had anyone who could aid us with the process.
She mumbled something along the lines of Monday being a very busy day and that they are short-staffed – which was understandable. However, the first thing we made note of was that she seemed to have very little interest in helping us in the same manner and enthusiasm she displayed towards the previous patron, who was there with a much greater sum than what we had.
We explained that my partner is unable to stay for a lengthy period in an enclosed, crowded place due to a health-related reason and the lady asked us to go back downstairs and talk to her second-in-command, the Assistant Manager or Chief Operating Officer (COO) – if I recall correctly.
We go downstairs and wait in line and finally speak to the second-in-command, who was more impolite than the manager with an air of indifference, barely making eye contact, and instructing us to go to a separate line that handles fixed deposits. We informed him that the manager asked us to speak to him directly as he would help us, but he said it’s a busy day, and repeated himself for us to go join another queue.
My partner and I complied. We waited a long while and when it was our turn the COO came and extended a hand and said “You, sit here!” to my partner, indicating where she ought to sit – which, to us, was strike two, really.
My partner sat, while I stood beside her, both of us before the lady handling FDs. We explained our needs. She asked us to deposit all the money we had into one of our bank’s savings accounts and had us fill some forms.
After doing this she realised something was amiss and then asked us how much cash we had to open the FD. We told her again. She then proceeded to tell us that we didn’t have the required funds for the particular FD scheme their own manager pitched to us after calculating the interest. We tell her there must be a mistake, as it was the manager who advised us to utilise this specific scheme. She called forth the COO, they whispered to each other. We waited, watching all of this unfold.
The COO then told us that we made a mistake, that there was no scheme for the amount of funds we currently have in hand. He told us that if we had at least another 200,000, we would then be eligible for this scheme they pitched to us in the first place.
Now, while I was grinding my teeth and being meditative about integrating some composure and calm, my partner lost her cool and told them that it was their own manager whom we had consulted, and being regular, loyal patrons of their bank, that they ought to clarify the matter with the manager. Looking frustrated, the COO made a call or two.
We waited some more.
After a while, he came and chatted with his staff member, the lady at the counter, again and then informed us that we didn’t have the required funds in hand, that they even checked with head office (which we are pretty sure is standard perfunctory hogwash) and that we could opt for the traditional FD they offer in tenures of three months, six months, or one year, with a percentage of interest that was much lower than that of the previous scheme we had now spent nearly an hour of our time trying to sort for ourselves.
That was strike three.
My partner lost the plot and asked them how they could treat customers and waste their time like this. They just listened and mumbled, “very sorry, the manager made a mistake”, over and over again.
We inquired how it was that their own manager was not familiar with the very promotions and schemes on offer, and furthermore why she would calculate the interest based on the funds we had in hand that she initially sufficed was adequate, only to have us wait and be informed downstairs that the funds in hand were not enough, nor were we eligible for the FD facility the manager presented and convinced us to go for.
She emphasised how unprofessional they were. How they could have saved us all that time had they told us in the first place that the funds we were carrying were not sufficient.
Contrast of service
We walked out of the bank and went to lunch to do some thinking. We then proceeded to make a few phone calls to some of the other banks in Mount Lavinia and discussed the funds we had in hand and if there were any FD schemes or facilities that we could utilise.
We then hurried to another bank in Mount Lavinia, reaching the bank at closing time at 3 p.m. We thought that we were too late.
However, once we explained why we were there, we were let in and greeted by a lady who listened to our requirements. She ushered us to a counter where a gentleman enlightened us of the facilities on offer, and in 15 minutes, we had opened a savings account and a six-month fixed deposit. They were not only amiable, but generous, kind, and helpful.
This got us thinking of what a contrast the service standards were between the two banks. It was the one having bagged awards, with international accolades, and a century of service brandished across their socials and on media that had zero customer service, no professional etiquette, and not even a modicum of class.
Now this is something that’s apparent and at large all around Sri Lanka. We expect to be treated with a lack of zeal and politeness by State-owned enterprises. Let’s say that is inevitable and a norm to contend with, especially in Sri Lanka and India.
But why is it that when you take the biggest private conglomerates – hospitals, some hotels, shopping malls, businesses enterprises and financial facilities – that the bigger they are, the more careless and unconcerned they seem to be when dealing with a large portion of potential clients. Customers who help keep the commerce afloat, give them business and are as much a part of the economy as the bigger players and “premium” patrons.
This is a petty mindset and a pitiable affair that many of us experience in the nation, especially in the private sector. Total disregard for professionalism. Absolute negligence of service standards they are happy to brag about on their promotional materials and annual reports when depicting how much value and return on investment they offer their patrons and stakeholders, shareholders, etc.
That benchmark private sector bank lost two patrons on a Monday. All they had to do was treat us with a modicum of respect and a touch of sincere atonement, and we may have even opened a regular FD with them.
Just like us, how many patrons must that bank be losing, during a time of grave economic collapse where banks need funds coming in now and need people saving or borrowing more than ever?
And here’s the best part: As far as the other, more helpful and accommodating bank was concerned, we had more than sufficient funds to open a FD, and they were more than happy to help us out. They now have two new patrons for life.
(The writer is the frontman and lyricist of Stigmata, a creative consultant and brand strategist by profession, a self-published author and poet, thespian, animal rescuer, podcaster, and fitness enthusiast. The views and opinions expressed in this column are those of the author, and do not necessarily reflect those of this publication)
