China Banks Tackle Bad Service, Long Waits for More Deposits
Tang Jianhui is a patient bank customer, though he won’t stick it out if he has to wait more than an hour, as he sometimes does.
“That’s the limit,” the 30-something restaurant manager says, describing a normal queue of half an hour to 45 minutes at his local branch.
Ranita Rao, a Chinese office worker in Beijing, has had it even worse. She has waited almost two hours to make a withdrawal at her local bank because the amount she wanted to withdraw was more than ATMs would allow.
“They give you a number and you just have to wait,” says Rao, 28, who once had to take time off from work to make a mortgage payment that her bank unexpectedly changed. “I always take my iPod.”
Tang and Rao are hardly alone in spending too much of their lives in bank lines. China‘s lenders have long been notorious for lengthy waits, byzantine paperwork, and sullen service. To the joy of Chinese citizens, the days of poor customer relations at mainland banks may be ending, albeit slowly.
Strange Random Banks Quote:
- Scotiabank buys Chinese bank stake (cbc.ca)
- Scotiabank to buy share in China’s Bank of Guangzhou for $719-million (theglobeandmail.com)
- Most Bankers Expect Higher Chinese Interest Rates (online.wsj.com)
- China cracks down on lenders to curb inflation (independent.co.uk)
- China Asks Banks To Widen Deposits In Reserve (online.wsj.com)
- ATM deposits must be discrete from withdrawals, why? (ask.metafilter.com)
- Craig Stephen’s This Week in China: China’s capital-hungry banks (marketwatch.com)
- Hasan Niazi: China to put policy tightening on pause – AgBank | Reuters (uk.reuters.com)
- Deposit Flight From European Banks Means Collateral Risk Piling Up at ECB (lonerangersilver.wordpress.com)
Posted on September 15, 2011, in Article and tagged Asia, Automated teller machine, Bank, Banking Services, Beijing, Business, China, Dan Quayle, Financial Services, IPod, People's Bank of China, United States. Bookmark the permalink. Leave a comment.