Standard Bank is ripping us off

Thank you for allowing me to voice out my concerns about our banks here in Swaziland.

* Mr Editor, I would like to know who governs the banks here in Swaziland because surely the Ministry of Finance (MoF) and the Central Bank (CBS) have failed. I am saying this because to me a man on the street, the ministry and CBS are just like a fattening ranch of the most fortunate people who have ‘special’ blood.

* What tangible thing has the CBS done for the Swazi nation in the last three to five years? Their monetory policies are pathetic.

* MoF is a disgrace, first it was the E50 million, then the Procurement Procedure which is a failure, there is no sound fiscal policy.

* FNB has integrated technology which assists us people on the street from having to physically go to the bank or ATM for bank balances and other transactions.

* Nedbank is very open and quick in offering services, their staff know how to treat customers.

* SwaziBank has done a lot for Swazis, the list is endless, thank you for bringing Stanley Matsebula. 

* Building Society knows the typical Swazi, thank you Joseph Ndlangamandla for changing the society to become a society for every Swazi.

* Firstly they tell you they are an international bank, then when you deposit money in South Africa it becomes a problem.

* The staff of Standard Bank Mbabane especially at the Swazi Plaza branch do not know how to treat a customer.

* Mr Editor, just phone their customer service call centre and see for yourself.

* Their bank charges are exorbitant, when you ask the lady at the reception, she also cannot explain the charges on the bank statement.

* They also delay processing your money yet they are quick to charge you E250 for a bounced cheque.

* Here is a typical example: I have a standing order in my business account at SwaziBank for distributing salaries for my workers. This is done on the 20th, my staff having accounts at Nedbank and FNB get their money on time and even before their pay date. I have a list of complaints from my employess who have accounts at Standard Bank, they get their money after pay day and the list of problems is endless.

Although all banks make a profit, what is Standard Bank and the CBS doing to plough back to society?

I am not talking about the petty donations but I am talking about substantial corporate social responsibility and ethics.

Finally, can we have a regulator for the banks who will ensure that they conform to corporate governance and also do social corporate responsibility work.

There is no consumer society in Swaziland that will fight for the rights of the Swazi customers.

Why is it that people always take the Swazi nation for granted? Is there a ministry or department that looks after the concerns of the typical Swazi customers..?

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