MY ACCOUNT OPENING STORY AT STANBIC IBTC BANK PLC
My name are Dada Oluwaseyi Jeremiah, I ‘m into Printing & Graphic Design, my office is located at 50, Ojuelegba Road, Surulere, Lagos. Tel: 08023832704.
My company name is SETFONTS GRAPHIC PROSPECT

On July 11th 2014, I went for SME Training organise by Stanbic IBTC Bank Plc.
Venue: Nigeria Employers’Consultative Association NECA House
Plot A2 Hakeem Balogun Street, Central Business District, Alausa, Ikeja, Lagos.

After the SME Training Session, I decided to open Current Account with one their branch at 77, Ojuelegba Road, Yaba Lagos which is very close to my office based on the lecture of the training, so I went there on 25th of July, having met the customer care staff who gave me detail of the documents needed for the account opening, I went back to the office and pick up the said documents but could not meet up that very day being Friday getting back there, they have closed, so I went back the following week 31st July 2014, the customer care staff collect the document from me with the sum of N20,000.00 cash for the account opening and told me that I ‘m going to receive alert containing my account number as soon as possible.

On August 4th 2014, I got the alert from Stanbic IBTC Bank Plc confirming that the account has been opened and my account number also stated in the message. On August 7th, I went back to the customer care staff in order to collect my Cheque Book and ATM Card but he told me that I should wait everything is ready but they need to connect to a particular “Porta” for certain confirmation and the “Porta” is very slow, after waiting almost one hour I told him I will go and come back, I decided to give him the whole of that week for the “Porta” since he said is very slow but to my surprise on getting there the following week the customer care staff ask me to wait again that they need to connect to the “Porta”, sincerely I was not happy because my intention is to start funding the account and send the account number to my numerous customers in and outside Lagos so that they can pay for their job through the account and some other business transaction but I need to be sure if I will be able to withdraw from the account being a new account so that my customers who will pay money through this account will not get their money trap when I can not withdraw from it for the purpose of executing their jobs, sincerely, I was upset that day because what they claimed they are during the Training Session is not what I met, it is a different thing entirely, could you believe that the customer care staff was tossing me up and down almost everyday I meet him that one “Porta”or the other but on 29th of August I was fed up with the same excuses all the time, so when he saw me, he too could not tell me that again so he ask me to sit down, went inside for long time and by the time he came out, he was with another staff who was backing up the “Porta” excuses, I was extra ordinary angry, so I told them, why must I be here before you connect to your “Porta” why not before I came and all this while I have been coming the “Porta” did not get through, so I left in anger that day and nobody care to called or do something about it even the customer care staff seize to care and throughout that week I didn’t check back, so I conclude that if it took me more than 3 weeks to collect a cheque book for a new account and not that the situation has been solve, what if customers paid money for jobs into the account, to collect it will surfer me more than this, it is better to close the account and collect my money. I have the idea of using the “Counter Cheque” to withdraw but for how long will I continue with that.

On September 3rd 2014, I decided to check back, prior to that time, one of the referee that I used called me that the bank has called him on my behalf concerning the referee form he signed for me. On getting there, the customer care staff appeal to me that everything is ready, according to him, he said, its all due to CBN policy that before they hand over the cheque book, every documentation must be complete unlike before once they open the account they release the cheque book for customers and later complete every other documentaton internaly most especially the referee. To my greatest surprise, the customer care staff who told me that everything is intact later came back to me that one of my referee is not good but he will help me to replace it due to what has happened, that was how the Cheque Book and ATM Card was release to me that afternoon of 3rd September 2014, only for me to get to ATM Machine after changing my pin and try to withdraw little money but the machine respond was “INVALID TRANSACTION, PLEASE CONTACT YOUR BANK” I taught it was just a small amendment on the Card not knowing is from frying pan to fire. The next morning I didn’t even burder much on the ATM Card thinking that I will correct it later so I rely on the Cheque Book, I issued out cheque of N10,000.00 to a client for business transaction on 4th September, 2014 only for the client to bounced back on me that there is no money in the account why should I gave him that kind of cheque that he’s no longer interested in collecting cheque from me, I have to beg him seriously, while begging him, he told that the bank asked him to wait for more than four hours at a point he has to leave the cheque with them thinking that by the time he will comes back they might have been through but he was ask to drop the cheque for the next day so in anoyance he ask them to release the cheque for him and that is why he is angry because he needed the money badly. As a matter of fact, I have to beg this my client with every spirit of hubble in me and asked him to re-present the cheque next day that they will honour the cheque. On the next day, the man called me and told me the same thing that the teller said the Director name on the account is different that one Mrs Akindere is what they found on the account, so I went there myself, on getting there, I met the Branch Manager, Mr. Chika Okonkwo, I explain to him the problem and he told to calm down that everything will be solve that I am talking to a solution provider, he told me that he is aware of it, along the line one of the staff brought some paper to him which made him to ask me some question regarding to the building where my office is located in term of the color, upstair etc. after that I ask him if the man can re-present the cheque, he said YES that the man should ask of him and he gave me his complimentary card and give me all the assurance that the money will be paid only for the bank to dishonour the cheque for the 3rd time after several hours of waiting in the banking hall for two days, the man was higly dissappointed not only in me but in the entire Stanbic IBTC staffs and officials of that branch because this issue has cause me lots of embarrasement and high ranking of insults.

My main reason of exposing this issue is to get CBN involved for the bank to return my money, I ‘m no longer interested in the account opening, I have called their Headquarters Customer Care that same Friday but the situation still remain the same. Please I need my money.
Please find attached for the specimen of the cheque dishonoured.

Thanks.

...

Front Page Please!

hmmmm...@ OP the problem you are experiencing is with the branch. Stanbic is a good bank though they have their flaws but sincerely that branch is a mess.

Stanbic bank

I opened a current account with 8,000 sometimes around march. After collecting my cheque book and ATM card, I went to d atm to confirm if I can make withdrawals, only for the machine to tell me I have insufficient fund. It took them months to rectify the issue. After it was rectified in july, I simply withdrew all my money and quietly closed the account.

What a useful information. In fact, it came at the right time. My husband was just about going to Stanbic to open a corporate Account . I referred him to this page and he has changed his mind.

Jona ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
border or bother or burder

Well banks do have flaws... Especially some bank branches..
There was a time a time I went to a particular bank branch (keystone) to request for a mastercard.. They told me I will get it in 2 wks... Dat of course is meant to be dier standard time.. Dey were quick to debit me 1k... But it took dem a month and 3 wks.. To process everything. after coming der like a crazy person.. But I was only able to withdraw.. I couldn't recharge, pay bills or transfer thru my atm.. Only for me to ask dier useless customer care and I was told dat.. Mastercard was meant for only withdrawals and online payment.. So I accepted.. After several months of only withdrawal payments I used d mastercard for.. All of a sudden my mastercard after a trial start to dey recharge my phone, pay my dstv. Bills and oda stuffs.. I went to anoda to inquire.. And d customa care der told me der was never a time a mastercard could not do all dose transactions... Me I jst tire 4 some bank branch shaa

These challenges happens all over the world but Nigeria's own is just too darn much. Gosh! What is wrong with us?.

This is a major problem start-ups and investors are facing in Nigeria.

Investors do not trust our system.
People do not trust start-ups because the problem they face being a client is just too much and this is a result of the infrastructures readily available on the country. Logistics, power, banks etc all cause the woes of entrepreneurs.
Our payment portal is also a mess.

Banking is luck nowadays. Just try another bank and pray your luck comes through. This is because no matter how people try to convince you to use a bank, you may be the one to experience their ill-luck when it arises.

till now they still have not resolved the issue. even other branches keep requesting for informations and yet nothing hav ebeen done about it.

Front page!!!!!

uboma, davide470, adewasco2k help a guy out here.

We have recommend this topic for FP.

@ topic, i had a bitter experience too when i applied to open an account in one of their branches here in Abuja. I got pissed after being tossed around for 2 weeks. In my case, my account was never opened throughout the whole 2 weeks even though i deposited some money for account opening and submitted the required documents and completed account opening forms.

I stormed the branch after 2 weeks and demanded for my money and passport pix +personal documents.

uboma: We have recommend this topic for FP.

@ topic, i had a bitter experience too when i applied to open an account in one of their branches here in Abuja. I got pissed after being tossed around for 2 weeks. In my case, my account was never opened throughout the whole 2 weeks even though i deposited some money for account opening and submitted the required documents and completed account opening forms.

I stormed the branch after 2 weeks and demanded for my money and passport pix +personal documents.

What was the outcome after that and Was the account later opened?

Eyop:

What was the outcome after that and Was the account later opened?

They tried to calm me down but at that point, i was no longer interested in banking with them. I insisted on collecting my money and documents which they obliged unwillingly.

Two colleagues of mine also experienced similar situations. I wonder why Stanbic is full of poor service.

@OP, I would have advised you asked from them @ the Branch what really went wrong with the whole processes...

*On the issue of the C/Book, the Bank ll be unable to process the checkbook unless the 2 references supplied are certified ok.

*Also, there ll be a kind restriction if the said account is not compliant which will also deny you an access to withdrawal from the said account.

*I doubt if C/service officer handles account opening processes @ SIBTC Bank, Customer Consultants and Sales Peoples does that @ d Bank.

*I would advise you go to the Branch again, kindly ask to see the Account Officer assigned to your account on arrival, he/she should be able to 'solve' the said issue, without any wahala...

**Please, go to the Branch again, do the above and paste your experiences back on the forum.

uboma:

They tried to calm me down but at that point, i was no longer interested in banking with them. I insisted on collecting my money and documents which they obliged unwillingly.

Two colleagues of mine also experienced similar situations. I wonder why Stanbic is full of poor service.

wow that's serious. Sincerely i never knew that Stanbic services could be this poor as i was planning to open up a Corporate account with them but i guess the reverse will be the case now. Imagine this happening at the early stage of opening the account,what then happens when the customer transacts in full swing

samnazarit: @OP, I would have advised you asked from them @ the Branch what really went wrong with the whole processes...

*On the issue of the C/Book, the Bank ll be unable to process the checkbook unless the 2 references supplied are certified ok.

*Also, there ll be a kind restriction if the said account is not compliant which will also deny you an access to withdrawal from the said account.

*I doubt if C/service officer handles account opening processes @ SIBTC Bank, Customer Consultants and Sales Peoples does that @ d Bank.

*I would advise you go to the Branch again, kindly ask to see the Account Officer assigned to your account on arrival, he/she should be able to 'solve' the said issue, without any wahala...

**Please, go to the Branch again, do the above and paste your experiences back on the forum.

If you go through the OP's post,you'll notice that he visited the branch severally but nothing was done and he also met with the branch manager who promised to resolve the issue and gave the green light for the customer to proceed in cashing the check but the same thing happened.

uboma: We have recommend this topic for FP.

@ topic, i had a bitter experience too when i applied to open an account in one of their branches here in Abuja. I got pissed after being tossed around for 2 weeks. In my case, my account was never opened throughout the whole 2 weeks even though i deposited some money for account opening and submitted the required documents and completed account opening forms.

I stormed the branch after 2 weeks and demanded for my money and passport pix +personal documents.

.................
...The Bank will be unable to open your account unless a 'proper' KYC is done by the Bank, which means, your house address must be confirmed genuine albeit, 2 weeks is somehow too long for the exercise.

samnazarit:

.................
...The Bank will be unable to open your account unless a 'proper' KYC is done by the Bank, which means, your house address must be confirmed genuine albeit, 2 weeks is somehow too long for the exercise.

Sometimes it can take more than 2 weeks. When i opened my Corporate account with Zenith Bank,i submitted Access and Diamond Bank referees but i was told by my account officer that they never responded to Zenith Bank and because of that they didn't release my cheque book to me which lasted over 1 month though the account was opened within 48 hours. So that's why it's always advisable to get referee from the same bank which is not always easy.

samnazarit:

.................
...The Bank will be unable to open your account unless a 'proper' KYC is done by the Bank, which means, your house address must be confirmed genuine albeit, 2 weeks is somehow too long for the exercise.

Like you rightly pointed out, two weeks is more than enough to have *Known Thy Customer* if they were serious about running their business...

Eyop:

Sometimes it can take more than 2 weeks. When i opened my Corporate account with Zenith Bank,i submitted Access and Diamond Bank referees but i was told by my account officer that they never responded to Zenith Bank and because of that they didn't release my cheque book to me which lasted over 1 month though the account was opened within 48 hours. So that's why it's always advisable to get referee from the same bank which is not always easy.

The KYC (know your customer) mentioned by Samnazarit is different from referee vefification which may take two weeks or even longer if the referees are not inhouse. In my case, it was a savings account i applied to open with Stanbic, hence there was no need for referees.

uboma:

The KYC (know your customer) mentioned by Samnazarit is different from referee verification which may take two weeks or even longer if the referees are not inhouse. In my case, it was a savings account i applied to open with Stanbic, hence there was no need for referees.

Wow savings account opening delayed for 2 weeks Something that should be opened within 1 week. Well,that's more than enough reason to reject their services.

Op, did you really need to upload your cheque to pass across your point? I suppose you don't know the dangers of exposing personal financial details on a public forum

darqly: Op, did you really need to upload your cheque to pass across your point? I suppose you don't know the dangers of exposing personal financial details on a public forum

I guess he's no longer interested in banking with them even after the issue is sorted out that's why.

Eyop:

Wow savings account opening delayed for 2 weeks Something that should be opened within 1 week. Well,that's more than enough reason to reject their services.

.....Bro, gone are those days when banks opens 'kiakia' accounts. With the new CBN categorization of Account Opening into 'Tiers', a proper KYC will be done on the account if you re going for the '3rd Tier' hence, the Bank MUST verified your address, some banks may even go as far as snapping the picture of 'your House', while some(Banks) will open the account within 2-3 days but you will be unable to make a withdrawal from the account until the account is fully KYC compliant.

The @Op should kindly visit his Branch tomorrow and have a chat with his/her Account Officer instead.

samnazarit:

.....Bro, gone are those days when banks opens 'kiakia' accounts. With the new CBN categorization of Account Opening into 'Tiers', a proper KYC will be done on the account if you re going for the '3rd Tier' hence, the Bank MUST verify your address, some banks may even go as far as snapping the picture of 'your House', while some(Banks) will open the account within 2-3 days but you will be unable to make a withdrawal from the account until the account is fully KYC compliant.

The @Op should kindly visit his Branch tomorrow and have a chat with his/her Account Officer instead.

@ the bolded you are right,i remember the same thing happened when i updated my info with EcoBank. I was in the house one evening and my phone rang it was one Eco Bank staff that called and asked me to describe the colour of my building that they are outside but no need for me to come out which i believe they must have asked the security man some questions anyway. But in this case,how many times will the OP visit the branch for them to tell him the true position of things?

samnazarit:

.....Bro, gone are those days when banks opens 'kiakia' accounts. With the new CBN categorization of Account Opening into 'Tiers', a proper KYC will be done on the account if you re going for the '3rd Tier' hence, the Bank MUST verified your address, some banks may even go as far as snapping the picture of 'your House', while some(Banks) will open the account within 2-3 days but you will be unable to make a withdrawal from the account until the account is fully KYC compliant.

The @Op should kindly visit his Branch tomorrow and have a chat with his/her Account Officer instead.

Your last 3 lines are uncalled for if you really read through the op's story with an open mind. Even the BM assured him of better service but reverse was the case. Now tell me, between the BM and the Account Officer, whose words should carry more weight? Please do not try any further to rubbish the op's complaints. It is he who wears the shoes that knows how and where it pinches him.

Enough said on this...

The Bank have refuse to disclose the actual issue and i think it an internal error, which they cannot explain. Confirming the Account is not an issue for them because the address is very close to the Bank about 2 street from the said branch. All documents and information provided in the account are valid and verifiable @ease, as i speak the 20,000 that was given to them is not even in the account. I think i might need to petition or sue them.

May be sometime next-week or next month when am in a good mood i'll visit the branch again, because if i should go now that my temper is high am not sure if i would be able to control myself.

▲▲▲ check to see if Stanbic has a Facebook page. If they do, i advise that you post your complaint on their page. They are likely to contact you immediately since they wouldnt want the poor publicity.

@ OP,i guess you should follow Uboma's advice. Stanbic facebook page: https://www.facebook.com/StanbicIBTC

@Eboma already done that no valid response yet.

https://www.facebook.com/olami1224/posts/10204063452094274?notif_t=like