Monday, September 22, 2008

Maybank Vs Loan Shark - Part II

Continue from here ....... I really feel like getting a new lesson learnt after getting the clarification from the friendly Maybank customer service officer. After listening to my inquiry, immediately she reply something like this; Sir, there is nothing wrong with the system, the finance charge imposed because did not making a FULL settlement of your previous outstanding balance Hmmm… how come, I settle the full payment on 26/08 what… I say This is what she reply; No sir, your payment on 26/08 is not consider FULL payment because your previous outstanding balance is RM1840.04 and the payment you made is RM1840. There are 4sen less. According to the agreement, the bank is eligible to impose the finance charge calculated per the formula stated in the agreement. Note: I purposely left out 4 sen just because RM1840 is the convenience number for me to settle the outstanding balance; I thought Credit Card Company will understand me. I really don’t mind if they want to charge an interest on the 4 sen outstanding. Wow!!!!.............. this is ridiculous I feel, I have to pay RM18.41 for the 4sen I hold. How much the interest charge if I translate it into the % ? Can somebody help? If you say the Loan Shark are blood sucker, what about the license banker like this? The Loan Shark will laugh at me if I share with them my experience. According to the customer service officer, it is nothing wrong for the bank to do so because the term and condition for the finance charge calculation is approved by the Bank Negara. Therefore her advice is to make sure I make a FULL settlement to avoid the finance charge. Fortunately, the Maybank customer service officer is so helpful. She waive the finance charge for me !!! since this is the first time I fall into the trap. But she keep reminding me. “No more next time yah… sir…” I should give a big THANK to Maybank Credit Card for giving such excellent customer service. After the lengthy explanation, she further guide me to read through the term and condition printed on the other side of the statement. Oh yah… what ever she said is clearly stated with a tinny font size and printed in light grey color. No dispute. I share the case with some of my colleague; looks like non of them aware of the this and everybody seem like unacceptable when I tell them the truth. Do you ever read through the term and condition printed behind your credit card statement? Better you spend sometime to read through and understand every sentence formed with the complicated boring English and purposely printed in a tinny font size and unattractive color. Look, this is what printed on my credit card statement. This is how the bank make million each year. Now you know, bank is more terrible than the Big Ear Long….

2 comments:

huisia said...

wow, RM18.41 for 4 sen, OMG, that's a lot!! Luckily got waived la..

Anonymous said...

Aiya, all the bank are the same lor...But I wonder why they didn't gives us some interest if we pay more than the outstanding balance. For example your case RM1840.04, u should pay RM1850 to the CASH Deposit machine right since the machine unable to accept RM1, RM2 and RM5, they should pay some interest for RM9.96 right.... How the Bank Negara set the rules???????/