Interest on call account
My wife and I had a call account with ADCB, Sharjah Industrial Area, for ten months. We had some financial difficulties and I asked the ADCB customer services manager to help me encash our account with interest to meet an immediate need. The customer service manager convinced me that since it was a call account the principal and proportionate accrued interest are redeemable at any time. The customer service manager assured me that we would get about Dh25,000 in interest. He calculated for me my interest dues and accompanied us to the ADCB Industrial Area branch to help me get the money with ease. Before handing out the money to us there was no disclosure that we would forfeit the interest. We thought we were getting the capital and the interest, but they gave us only the capital. I asked the officials why we were getting only the capital and they replied that we should discuss this with the officials later, yet the customer services manager standing with me argued with one of the officials in ADCB Sharjah on our behalf to give us interest accrued for ten months. It is he who convinced us that we deserve to get the interest. Since then I have been fighting for the due interest with some other ADCB officials in Sharjah, Abu Dhabi and Dubai but to no avail.
We lost our interest of Dh25,000, which is a lot of money to us. The bank did not disclose that we would lose the interest before handing out the money. If they did, I would have waited for some more time and got the capital and the due interest. Nobody told me we would lose Dh25,000 if we encashed at that time. Is this customer-friendly treatment?
I request your assistance [Gulf News] to help me recover the dues from ADCB, or some adequate compensation because my money was in the bank for ten months.
From Mr Tom Johns
Sharjah
The management of ADCB responds:
At the outset, please be advised that our customers are important to us and to enable problem solving for them, we have devoted a Service Quality Unit that handles all customers’ issues and complaints. Our customers are free to contact us on the Toll Free number at 800 2030; or call collect +97126210090 from outside UAE; or they can visit our website (www.adcb.com) from where they will be able to log their complaints, commendation or suggestions. Please advise your readers/complainants to contact us through these available channels.
Regarding issue mentioned above, the customer booked fixed deposit for £190,957 — tenure for one year with interest rate 2.75% (start date 04/04/2010), the customer approached the branch before the maturity date on 23/01/2011 and he requested to redeem his fixed deposit for personal issues and the same was done as per his request, therefore no interest was paid for the fixed deposit. The customer made a complaint since he claims that he was not informed that he will lose the interest if he redeems his fixed deposit before the maturity date. The Product team approved to pay the customer 1.25 per cent exceptionally and the same has been communicated to the customer.
Mr Johns responds:
I do express my profound thanks to Gulf News for your intervention and ADCB called me to say that they have credited to my account 1.25 per cent interest money. It is better than nothing and this would not have happened without Gulf News. I take my hat off to you.
Account closure
I had submitted an application to close my Emirates NBD bank account at the end of March 2011 at Emirates NBD Time Square (Al Quoz) branch.
As per the bank’s customer care people, I made the balance zero for the closure. After a couple of weeks I received an SMS which indicated my balance was -225. I discussed this with the bank manager and he agreed to deduct the minus balance and close the account.
But I realised that the bank had still not processed my application. I filled out another application as requested by the receptionist and she promised that she would process my application as soon as possible.
Unfortunately, I have visited the same branch six times to follow up and it was another shock for me that the same receptionist asked me to fill out another application form for account closure.
Now, I am afraid to approach the same bank as I have visited them six times for nothing. Kindly help me resolve this issue.
From Mr Mohammad Mustafa
Dubai
The management of Emirates NBD responds:
We are pleased to inform you that the department concerned contacted Mr Mustafa and resolved his query.
We would like to take this opportunity to thank you and the customer for providing us with your feedback and regret the inconvenience caused. Many thanks for your continuous support and valued efforts.
Mr Mustafa responds:
Thanks for your help. Your involvement is valuable to society and the readers of Gulf News in resolving such complicated issues.
Editor’s note: If you have similar consumer complaints, raise them with us at readers@gulfnews.com
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