The banks in South Africa adheres (or so they say) to the banking code of conduct of The Banking association of South Africa.
Full details available here: http://www.banking.org.za/consumer_info/code_of_banking/code_of_banking.aspx
Does this give clients a warm and fuzzy feeling ? Of course ! They just do not know that this is all a big BS story. It is Bull and the banks know it !
THE following has been copied from the introduction of the Code :
None of the provisions of this Code:
will be legally binding in any court of law;
may be used to influence the interpretation of the legal relationship between you and your bank;
will give rise to a trade custom or tacit contract or otherwise between you and your bank.
Still feeling warm and fuzzy ? If you do it is caused by the wool that has been pulled over your eyes.
Tuesday, November 2, 2010
Monday, November 1, 2010
The (un) human factor
It is a fact of life that humans (as we know them) like to think they are in control. The masters of the universe.
Of course we are, We even create our own universes and then these universes start controlling us.Banks are a classic in this regard. They create systems which is to be followed to the nth degree. Whether you are the client or the servant (just another name for staff member)
A case in question: Ask any bank employee (and I mean anyone) to explain to you how they calculate interest on what you owe them. In detail off course. I have not met one that can do that! "There is system sir.............You cannot challenge it, as it was created by the ultimate fundis! (sir). It is Dogma in the bank" (see definition of Dogma)
About systems . It will control every action of every staff member - there is just sooo much information that any bank employee can comprehend . No matter what the law says - do as the bank says! Rule one......The client is always right. Rule 2. Whenever a staff member is involved disregard rule one. Rule 3. When it seems that the client is actually right, see rule 2. Rule 4. When it seems that the client is really getting the best of the argument, act dumb and run like hell to get an expert(which does not exist in the bank anymore - so just do not come back till you find the elusive expert)
Full details of an actual case can be had by sending me an email ( email address : bankdumbness@brandow.co.za)
Of course we are, We even create our own universes and then these universes start controlling us.Banks are a classic in this regard. They create systems which is to be followed to the nth degree. Whether you are the client or the servant (just another name for staff member)
A case in question: Ask any bank employee (and I mean anyone) to explain to you how they calculate interest on what you owe them. In detail off course. I have not met one that can do that! "There is system sir.............You cannot challenge it, as it was created by the ultimate fundis! (sir). It is Dogma in the bank" (see definition of Dogma)
About systems . It will control every action of every staff member - there is just sooo much information that any bank employee can comprehend . No matter what the law says - do as the bank says! Rule one......The client is always right. Rule 2. Whenever a staff member is involved disregard rule one. Rule 3. When it seems that the client is actually right, see rule 2. Rule 4. When it seems that the client is really getting the best of the argument, act dumb and run like hell to get an expert(which does not exist in the bank anymore - so just do not come back till you find the elusive expert)
Full details of an actual case can be had by sending me an email ( email address : bankdumbness@brandow.co.za)
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