Quantum Forest logs are written by Luis A. Apiolaza in Christchurch, New Zealand.
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I am creating an investment account for Orlando. I needed to transfer money from my netbank account to an investment fund, but then I found out that the maximum transfer was $2,000. I called customer service:
—Generic voice stating that ‘your call may be monitored for training purposes’, and some muzak followed by ‘we strive to serve you better’. More muzak and, finally, a human being. ‘Good morning, I am X how can I help you?’
—‘I am trying to transfer money from my account, but there seems to be a $2,000 limit. What is going on?’
—‘Netbank has a limit of $2,000 per day. If you want, you may repeat the transactions for several days until you reach you desired amount’
—‘But I would need several days for this transaction. Is there anything else you can do?’
—‘You can apply to increase the limit up to $5,000. I can transfer you to a netbank CSO to do that’. Opera aria this time, for five long minutes (yes, I am not an opera fan).
—‘Good morning sir, I am Y, how can I help you?’
—I explained the situation again and ‘Could you please increase the transfer limit please?’
—‘Sorry sir, you can not do that over the phone. You can download the form from internet (no I can’t because of this) or you can go to your local branch and fill out the form there’.
So, what was the point of the transfer to the second CSO? Waste of time, because the first CSO could have told me that and spared me the opera aria. The whole point of netbanking is to avoid the queues and dealing with bank employees.
The typical excuse for the transfer limit is that it is for customers’ own security. However, banks are always insisting that net banking is secure. A bit of a contradiction there… Once one starts hitting the limits of—granted, this implementation—netbanking, one starts thinking of switching to another bank.
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