Asia Business Consulting

From Information to Strategic Knowledge by Asia Business Consulting (www.asiabusinessconsulting.com). What kind of jewels can you find in the news. And how great it is to have a company that fully uses those to support its primary research and consult your company strategically to really improve your business. This blog supports your business already. For more, talk to us - Asia Business Consulting. A better way to do business.

Tuesday, November 08, 2005

Check the account number

I surely hope that this is not the common practice in other countries and their financial institutions, besides in South Africa.

Here, a bank said that they cannot be held liable for wrong transfers if the customers failed to state the correct number. I mean, okay, a customer should know the account number they are transfering money to, however, there is also the problem with bad handwriting or a wrong interpretation of a nicely written number, or a left out number.

Apparently, an online banking customer has complained that money was wrongly paid to a beneficiary after he had entered eight digits instead of nine for an account number. A spokesman responded to the complain that banks cannot be expected to cross-reference names and numbers as they would have to access each other's client records.

Whatever it is I hope for the customer that the mistake was undone.

(By Asia Business Consulting)