One of the toughest sectors to deal with in this country is the banking sector. There have been numerous complaints about the service that they offer. Not much effort is spent on getting their customers to be financially literate. They probably don't care.
I made a simple suggestion to the banks, and the suggestion has not been taken up. I suggested that customers be allowed to add at least two contacts to their account. These persons could be contacted in cases where the bank cannot make contact with the owner of the account.
This would help to identify owners of dormant accounts. It would also help the executor and others to ensure that the funds being held by the bank for a client who has died go to their estate.
The banks prefer to keep the money and hand over the leftovers to the government. This is not the bank's money, nor is it belonging to the state. The system is an unfair and dishonest one. We should note that more and more people are losing confidence in our banks.
Jamaicans have been reporting to me that funds sometimes go missing from their accounts. Recently a customer went to do a withdrawal from an ATM, and nothing came out of the machine. He subsequently learned that the exact amount was debited to his account.
A customer sent the following report to me.
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I just got a call from the customer whose account was debited for JAD 90,000, which he did not receive when he attempted to make the withdrawal at the ATM. The bank credited his account with the full amount.
Have you had challenges with the bank?
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Here’s a polished version that improves the grammar, clarity, and flow while preserving your original argument and tone.
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Vernon, banks will never voluntarily create additional work for themselves. Unless Parliament mandates that another name be added to an account, it is unlikely to happen. Moreover, some account holders deliberately prefer to keep their banking arrangements private and do not want anyone else to know about their accounts. As such, the responsibility rests with account holders to make adequate succession plans.
Regarding ABMs dispensing no cash despite the funds being withdrawn from an account, there have been numerous documented cases of this happening in the United States. However, these incidents have often been traced to criminal activity involving individuals tampering with the machines by installing devices or placing objects inside them to trap the cash. Once the account holder leaves the ABM, the perpetrators retrieve the trapped money.
In light of this, I recommend the following:
1. Avoid using ABMs located outdoors or in isolated areas.
2. Test the ABM by first withdrawing the smallest amount possible before proceeding with the intended transaction. This may help identify a compromised machine before attempting to withdraw a larger sum.
In trying to improve the grammer and presenting a polished version you have completely misrepresent the concept and simple posted your own ideas. The concept of having at least teo contacts on the account has nothing to do with removing any privacy. Read the blog again and try to understand the concept.
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