Many banking problems in Malaysia
I do not understand why we have many problems in the banking system in Malaysia. I will not mention which banks are affected by these problems as they could be very vindictive. You have no idea how bad some of these bankers are. Worst still I am very sure, after years of being attacked, that there are very powerful people who are trying to make sure I cannot earn any money and other unmentionable stuff.
1. Here is a quote from my blog when it was hosted in geocities.com dated July 2010 about mnopqbank.
"Before I continue, I may sound foolish or paranoid but after years of conducting research we tend to be very careful about the events and people around us. Let me let you know that, again I don't want to sound paranoid, but I suspect that there are forces trying to shut me down. This website, www.bachutha.com (then hosted by Yahoo!), may be shut down because I am unable to make payments. My debit card does not seem to be working, there are errors in my bank account, banks have gone very quite when I write to them for explanations. (there is extra money in my account and Internet account statement was showing that my total closing balance should be RM10,000,000,000,000/- which is equivalent to USD$3,000,000,000,000. Imagine one day's interest could solve a lot of problems. But let's be realistic because the whole of Malaysia put together does not have that amount of cash & shares. And of course this is a banking error)."
- Dr. Peter Achutha 14 July 2010
2. One bank tried to stop me using my debit card two months earlier - I suspect powerful people are behind this. After I emailed them about this, they froze my account and I could not withdraw any funds from this account. I have since moved all my internet payments to another bank. Below is the email letter I sent them asking for an explanation:-
Sent: 17/07/2015 6:14:44 PM
Subject: Refund of money in old MasterCard - Dr. Peter Achutha
Hi XXX, YYY,
Sorry for the delay in sending you this email as I have been rushing to put more articles on my blog.
Thanks for the phone call a few days ago. Please refund the RM300++ stuck in the old card into my xyzbank Kelana Jaya branch, savings account.
I am very disappointed with the poor quality of service that I had received from the xyzbank card center in May / June 2015. Really upset and disappointed.
1. My card 5577 xxxx xxxx 5346 was suppose to expire on 07/15 but the card center decided to stop the card in May 2015 (05/15).
2. In early May, I tried to make payment to Google for my advertisements and to Reseller Panel for my web hosting. I have more than 10 websites as I am a software developer.
3. The payments to Google (& to Reseller Panel) failed to go through and I thought that it was because there was only about RM100/- in the card so I topped up the card with another RM200/-
4. The payments still failed to go through so I called up the card center and a Malay girl said there was nothing wrong and there was no request for payment from Google. I tried a few times and nothing went through and the girl insisted that there was nothing wrong and she could not see any transactions.
5. I complained to Google and they said they had not received any payment and that the problem was with xyzbank. They asked me whether it was a real bank!
6. Then, after a few days, I called up the card center again and this time I spoke to a Malay gentleman. I told him the events I had experienced and he told me that it was because the card was already stopped by the bank and to apply for the ZZZZ card.
7. Why did the bank stop the card in May when it was supposed to expire in July. I went through so much difficult that I felt like an idiot trying to use the xyzbank card. I do not know who was more stupid, the Malay girl for not knowing the card was stopped or me for trusting xyzbank.
8. Why did the bank not inform me the card was stopped. If they had I would not have used the card and I would not have put in more money into the card.
9. I was so angry with the card center staff I did scold one of them. One staff in Kelana Jaya branch, over the phone, asked me to withdraw the money as e-cash!
10. I was told that it takes 2 weeks to transfer the money out into my savings account. Why is this so? It takes me only seconds to transfer money in. This is a debit card and if there is no money in the account, no payment can be made. So why does it take two weeks as there will not be any pending transactions older than 3 days.
11. I realize that the software your card center staff are using is not really something great as they did not know the card was stopped. It is probably a poor quality product.
Please let me know why the card was stopped 2 months earlier and why they did not transfer the money into my savings account when I had requested this. I had made the request to the card center in mid June so if they had transferred the money in, it would have been in my savings account by end of June. I really do not know what the staff are doing. Cannot click a few buttons? That is the height of laziness and incompetency.
I lost a lot of confidence in xyzbank after this experience and my money is stuck in a closed card so I have moved all my payments through my qwertybank card.
Why does it take 2 weeks to transfer the money into my savings account?
h/p: 016-xxx xxxx
-----End of Original Message-----
Worst still the bank was so impressed by my above mentioned email that they froze my account. Its stuck and everything is jammed.
3. Here is another bank with big big problems. I had to make payment to restore my account so that I could use my debit card to make internet payments. Here is my email to my customer explaining why payments to them were delayed :-
to: D Sales Department
date: Tue, Jun 2, 2015 at 4:13 PM
subject: Re: Regarding your account "peterpublishing" with Peter Publishing
I managed to make payment.
I found out that qwertybank and made an accounting error in June 2014 and had credited my account with extra RM255.62. I had this account as a standby account just in case I have trouble with my other accounts, so I did not track whether there was extra money in this account. Over the last one year they never called me or emailed me to claim back the money. Today I found out about this and refunded their money. I really do not know whether this was a genuine mistake on their part or it was genuinely my money. But as of as of just now they have unblocked my account.
It is a real shame. In 2009 / 2010 when I checked my bank account of a different bank, over the internet, they showed I had 1 trillion Ringgit (about US$270 Billion) in my account. When I wrote to that bank about this, they just kept quiet. Then one day I found extra RM200 in the account and I wrote back to the back about this. They never replied. Two weeks later I closed that account, as if they had added extra money into my account, could they have deducted, without my knowledge, extra money from my account too?
I have stopped using the xyzbank account as they had suspended my debit card, without giving me a new card, on 1st May 2015 when it was supposed to expire on 07/15. I had kept trying to make payment to Google and talked to their tech support as the local xyzbank card center did not receive any request for payment from Google! Now I have found out that it was not Google's fault but the xyzbank card center's fault. The staff at the card center did not know my card had been suspended!
There is something seriously wrong with the banking software of the Malaysian banks.
Sorry for all the trouble.
--------End of Original Message--------
You know, for the last 6 years I have found money appearing and disappearing from my savings accounts. I am not the only one who has noticed this. My God this is a terrible problem and it only takes one database transaction to add or deduct money from an account. We do not know if this is a genuine transaction or a false transaction recorded in the database to make it look like money was added into my account. Which means the bank makes money from you by withdrawing those suspicious funds. I have informed very senior bank managers, heads of banking at HQ, that if extra money appears in my account then there could be times when some money was deducted from my account without my knowledge.
ATM machines have badly written software
Have you noticed that our bank ATM's do not issue coins but the bankers are not aware of this. I have never seen one that can issue coins and even the latest cash deposit machines cannot deposit coins. So why do we have to type in .00 cents? Every time I want to withdraw a non standard amount of money I have to enter the dollars and cents amount. The photo above shows that I had to enter 100.00, yes those two zeros for sens (Ringgit & Sens).
So I tried to withdraw RM20.30/- to see if the ATM machine would work properly or issue the RM20 but deduct RM20.30 from my account.
As you can see this bank's ATM machine would not let me withdraw RM20.30/-. It did not allow small change to be withdrawn, so why do we have to enter .00 when we specify how much we want to withdraw?
You would not believe it but there are many other problems in our banking system. They dragged me into court trying to force me to pay for someone else's loan. After 4 years of being dragged into court I found a lawyer who could help me. The moment I hired this lawyer the dumdumbank dropped all charges and withdrew the case against me. Many bankers are worse then the pirates on the high seas and will swindle you in a twinkle on an eye. That is why the Lord God is executing judgement on the bankers in 2015 / 2016 the shemitah year.
ATM machines showing other people's bank account
This one was truly amazing and I could have probably plundered the bank if I was an unscrupulous person.
One day, either Nov/Dec 2015 or Jan 2016 (I forget), I took my mom shopping in Bangsar, Kuala Lumpur and decided to check how much the abcbank had deducted for payment of the loan. The amount I pay fluctuates month to month. I got a shock of my life when I saw that there was approximately 3 times the amount in my account then what I had expected. I could have withdrawn the amount but I did not. I called the bank to complain that there was 3 times more money in the bank then I had expected. This meant that there was something wrong in the bank's accounts. They were very calm about it and told me that that there was a problem with the ATM machine!
It was unbelievable as I had access to someones account. No wonder money keeps disappearing from your accounts.
To date there are at least 5 banks in Malaysia with problems.
Update: After writing this article the dumdumbank is coming after me again - 5th March 2016.
This article, "Many banking problems in Malaysia", was researched and written by Dr. Peter Achutha - 26 February 2016