I find it quite strange that some of the policies at Republic Bank are not customer friendly. There are others, but I wish to highlight one.
If one has to make a deposit, he or she has to present their ID card for that deposit to be accepted. A few days ago I went to make a deposit for my company, comprising of cash and two Republic Bank cheques.
The teller counted the cash and then proceeded to the supervisor with the cheques. One of the cheques was issued by my company to the cleaner, and the other was from another company, issued to a member of my staff. Each cheque was endorsed with the address and ID card number of the person to whom it had been made payable to. The cleaner’s cheque was for less than $10,000, and the other cheque was for less than $50,000.
I was surprised when the teller returned and told me that they would not be accepting the cheques, unless I presented the ID cards for both persons.
Isn’t this strange? My company cashed the cheques for the two staff members to save them joining the line at the bank. Isn’t this counterproductive? Can someone shed some light on this matter?
(Name and address supplied)