Terrible Experience with Banks in Malaysia (Part 3)
Let’s continue the stories on how Citibank Malaysia handle my case.
Here is the quick recap on what happened before, My late father has a credit card and saving/checking account with Citibank for years. He passed away in late October 2020, and I made my trip to the bank to inform them to freeze the account, at the same time, to pay off all the outstanding for the credit card if there is any in November 2020. Unfortunately, after visiting their Damansara Perdana and Head office branches, the bank refused to freeze the account nor reveal any outstanding for the credit card, even I have show them the original copy of death certificate of my late father.
On March 2021, finally we obtain the Grant of Probate from High Court of Malaya. Initially, I was thinking, finally I can closed the Citibank’s account(s), the reality is, it is not.
I made my third visit to Citibank head office, I presented the Grant of Probate, Death certificate, and I explained another Executor is not in the country. The officer replied very rude that, both of the Executors MUST come together in-person. Otherwise, they won’t reveal any information regarding to the deceased’s assets. Then, I ask the officer, if I get my brother to give me the rights via Power of Attorney, can your bank act according to my instruction?
Guess what? She replied, go get the Power of Attorney first, then we will decide later. I’m like WHAT THE FUCK WITH THIS CITIBANK? WHAT IS THE INTENTION OF THEM TO WITHOLD MY LATE FATHER INFORMATION AND MONIES?
I don’t like to fight, but I’m not afraid of fighting.
Few months later (late October 2021), when I finally obtained the Power of Attorney from my brother, I went to Citibank head office again, this is the forth visit. With all the necessary documents in place, if Citibank still refused to do the right thing, I’m preparing to have lengthy legal war against them, this is the last thing I want it to be happened.
As usual, the after I told the officer that my father had passed away last October, she immediately try to stop me by repeating what the first two officers that I met before, but this time, I told her off by saying: let other people finished their words before interrupting is a basic manners.
I think she was shock by my respond too, only then she start listening and go thru all the documents. At the end, she ask me, why the assets listing in the Grant of Probate only listed Citibank, without account information? Then I told her the first and second conversation, which the bank officers from two different branches are refusing to reveal any information, hence I can only list Citibank as a whole.
Later, she continue to explain to me that the bank just need the Original Death certificate, and proof of I’m the deceased next kin, then the bank will provide us all the necessary information, she also further explained that even without the original death certificate, but a certified true copied of the death certificate, the bank can freeze the account. She also don’t understand why her colleagues wasn’t aware of it.
Less than half an hour later, we closed this cases. It should have done by two visiting (first freeze the account, second to close the account), just don’t understand why this Citibank can screw up such a simple thing.
If you does follow this stories from Part #1, Part #2 till now, you might wondering one thing, why I have to visit the bank one by one to check if my late father have any bank account with any them right? Some might even suggest that, why can’t I contact Bank Negara Malaysia (BNM) to check?
The answer is, BNM doesn’t have any record of individual having how many bank account with which bank. They just don’t have that information. I’d called to BNM help desk to check it out personally.
So, what’s the lessons learn from it?
- Regardless how rich or poor you are, it is better to have your WILL written, you can’t write your Will after you die. It will really reduce the hassle for your love to inherit your wealth after you have gone.
- Trust the Executor, don’t named more than one Executors, else you may faced the problem like me, especially some of the Executors are not in the city or worst same country.
- If you have joint account with decease, most of the bank are allow you to withdraw money or close account, provided the account is setup to be “Either one to sign”.
- At lease apply two or more copy of Death Certificate for the deceased, regardless the deceased have Will or not, the court might take your original copy and you may need the original copy of the death certificate when you are dealing with those idiots. (in my case, those idiots are in banks)
- There are no different on the number of idiots in local or foreign bank, they are every where these day. One of Senior Relationship Manager from Private Banking told me that, she is on monthly salary, and no commission at all, her performance is reviewed by the client she served. So, she will try her best to assist her clients. But, those relationship from premium banking, their salary is not high, they earn commissions on very single products they sell to you. That’s why you will see those relationship manager is so hard selling you Investment linked Insurance, Unit Trust, Bond. If you always play around with them on Fixed Deposit rate, they won’t really entertain you, simple because FD, they don’t have any commission earn!!!
Thanks for reading. 😊
