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Online banking stinks

Now that all the banks have come online, in the haste to get the latest technology is that a few things were left behind, had they remained, they would be a great help.  I use the ATM much of the time, but a few days back, there was on the screen 'transaction cannot be completed'.  I tried once or twice then went to bank to next bank and received the same message. Later I returned to the bank to the ATM tried again and failed.

This was the bank where I have saved my money. I went in and told some officer over there that the ATM machine is not working. He said he will do something about it - but he ran off somewhere else. I had my cheque book with me and decided to use it, instead of the ATM and the teller told me that his bank branch link with the head office of the bank ( in this case MCB) was down which is why neither the ATM cannot  conduct transactions and nothing could be done about my cheque unless the branch was back online with the head office. Nothing can be done unless that happens.

I asked the teller why can't he use the old fashioned way check my account from a register, see my account number and debit the amount I need and give me cash. He tells me everything is controlled by the head office,  these days he said no bank uses registers to facilitate account holders, unless  the head office makes a change in the rules or the State Bank of Pakistan makes a rule to return certain independence to the bank branches, so that it does not cause any problem for account holders. 

Another bizarre thing is that if one applies for a new cheque book, it the new cheque book is not collected within two months it is destroyed, what rubbish.  An account holder will lose access to his account. This rule should go. The cheque book should be retained and an account holder can collect it any time.

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Scare mongering or the truth?

There are stories floating around that the government is going take away US Dollars from the lockers of people and will prevent money exchanges from converting US Dollars into rupees.  At times one tends to be believe this because during the time when Nawaz Sharif was Prime Miniser he sealed the US Dollar accounts of everyone and the people who had found out earlier about this through their sources and had closed their US Dollar accounts and sent that money abroad.  Some of these people were caught and prosecuted. 

If this merely scare-mongering then government should do something about this before there is run on the bank and never trust banks ever again.

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