I have banked with RMB Private Bank since 1998, maintaining a suitably responsible approach toward both my personal and business banking interests over these past 15 years.
In the interest of effectiveness I recently applied for a RMB credit card facility to replace my AMEX Platinum card facility held since 1997, a process I was advised would take a few days.
It took just over two weeks following the submission of my application to RMB, supported by extensive documentation, for RMB to draw a credit report... and forward me a letter of decline! Not a personal call appropriate to a private banking client - an emailed decline letter!
I was subsequently advised that my earnings information on the RMB system was not updated - with the system reflecting under half of the earnings I had indicated in submitted documentation. In addition, it was evident that the "systematic" scoring system used ignored the fact that 85% of listed debt related to investment properties where the income received exceeded the payment obligations.
After 15 years... hey guys - I was not applying for a home loan!
It would appear that client focused service delivery at private banks is not what it used to be!
(Supplier name changed from Rand Merchant Bank to RMB Private Bank by Hellopeter.com)
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