I was just at the bank. All went well, a routine stop.
However, while I there I suffered a traumatic flashback to previous Lebanese banking experiences. The banks here are notoriously awful, everyone has a story to tell, but I’ve had what I think are more than my fair share.
I’ll preface this by saying that I’ve worked within the banking sector in the UK, for a small private bank.
Where do I start…?
Ok, firstly I couldn’t open a bank account when I first arrived as my work permit hadn’t been issued. Fine. However, the work permit took around a year to be issued. My wife and I ended up opening a joint bank account, not a problem.
Once the account had been opened HSBC (yes, naming and shaming) couldn’t seem to issue ATM cards that worked. Seriously, in the C21st this is still a problem. So, they’d issue a card, it wouldn’t work, we’d take it in to exchange it. We’d then be told that it would take two weeks to get another one. What? Yep. Cards come from the UAE. Awesome. Ok, not a problem. These things happen. Three times in succession? Three times? For the mathematically challenged, that’s one-and-a-half months! Their answer? “What’s the problem? Come in to the bank.” Thanks.
About a year later HSBC arbitrarily closed the account. Apparently, HSBC customers had to maintain a certain level of cash in the account. It was a current account. You know, the type people use on a day-to-day basis. You know, the one that pays virtually no interest. The one that makes no sense to actually keep your money in long term? Bizarre. Of course, we kept the credit card. Naturally.
So, we shifted to Lebanese Canadian.
HSBC evidently weren’t happy about this. Three or four times since, upon using an HSBC ATM, the machine has stolen our cash. Seriously. Pop the card in, whack in your PIN, enter the amount. Machine sits there flickering. Card gets spat back out. “Transaction not completed, contact your issuing bank.” Hmmmm…. So, you go to another ATM and get a statement. Turns out that darling HSBC has, in fact, withdrawn the money from your account. Yes, we got the money back, but it took about a month each time.
Anyway, Lebanese Canadian must be better than HSBC, right? Well, no. They’re on par. In terms of customer service they’re pretty appalling, just like the lot from Hong Kong.
Just like everyone else in the country we were affected by the ATM fraud of last year. A recap: Some guy was copying the details of ATM cards that were used in certain ATMs. Happens all the time, but not in Lebanon apparently. The response? Cancel cards that might have been affected. That’s fine. But, firstly, they didn’t tell anyone where the problem was occurring, so you couldn’t avoid it. Secondly, they didn’t contact us to tell us they were doing it. Thirdly, it took two weeks to get a new ATM card again. Twice.
Other than that … well, standing orders didn’t work for a while. Paying the Lebanese Canadian credit card from our Lebanese Canadian account? Can’t do it automatically, apparently. You can set up the standing order to make the payment. They just won’t carry it out. So, you get a nasty phone call saying, “You haven’t paid your credit card charges this month.” “Really? Because I told you to transfer the required cash every month.” “What?” “Did you check?” “Uhhhh….”, “Ok, check, phone me back and apologise.” They eventually got it right.*
Oh, and their Online Banking doesn’t work well. But that’s ok … for administrative reasons they’re working with HSBC now …. Great.
Well, all this is funny with hindsight. However, we must be grateful that Lebanon wasn’t hit by the financial crisis. Lebanese banks are forced to hold a large percentage of their cash reserves both with themselves and the central bank.
Now, if they’d just let me get at my money, that’d be perfect.
*I’m not normally so unpleasant to people normally. But enough was enough.
Mustapha · 768 weeks ago
I try in my dealings with Lebanese banks to avoid the humans as much as possible (HSBC's internet banking could be worse), but as you say, even the ATM is unreliable (which, to be honest with you, was never my experience with HSBC's ATM machines, except for the occasional "not working" message in AUB's machine by jafet library)
Try BLOM, I've had good customer experience with them, but that's perhaps because most of the personelle in my hometown branch were classmates and friends.
One more thing: Kudos for naming and shaming. We need more of this in blog posts..
Mustapha · 768 weeks ago
Marcia · 768 weeks ago
*and yes, i have read them all... keep it up! xx
meinlebanon 35p · 768 weeks ago
All of this to say it's probably good that I haven't opened up an account here yet. I think I'd rather pay the international fees that come with using my credit card here than open an account in Lebanon..Sorry for your frustrations dude.
And I don't know what I'd do without online friggin' banking! sheesh!
meinlebanon 35p · 768 weeks ago
Liliane · 768 weeks ago
I have to say am very happy with Banque Audi
britinbeirut 38p · 768 weeks ago
Welcome. It’s good to see you.
Ahhh… the HSBC machine outside Jafet … I remember it well. It was always empty…. At least that’s my abiding memory.
As for wasta, yeah, we’ve finally found a friend of a friend inside Lebanese Canadian. It’s the only way.
As for naming and shaming, it’s a good job this blog is tiny. I’ll be looking for a house loan soon!
Thanks for pointing me toward Gravitar, it worked… after much persuasion. Blogger is not the most user-friendly.
Hi Marcia!
Thank you, I’m glad to see you enjoyed it. There’s another rant coming up!
x
Hi Danielle,
That sounds about right.
When I first moved here I was paid by cheque. It took around 45 minutes to cash one. 45 minutes to cash a cheque… The cheque itself was photocopied, I scrawled my “X” on the back of it, along with my blood group, favourite flavour of ice cream, inside leg measurement and reams of other information and it went to three different people to sign…. Photocopies of passports, enquires as to my residential status… All a bit much.
Hi Liliane,
Bank Audi always seemed pretty good to me.
Though I do seem to remember AUB losing my fees every semester. Though that was probably AUB rather than the Bank Audi. There’s nothing like being barred from the library. Great excuse not to do any work.
That was part of the usual merry-go-round of “Open an account at Audi to pay your fees.” “I can’t, you haven’t acknowledged that I’m a student here, so I can’t get my residency.” “Oh. Well, we can’t accept you until you’ve paid your fees.” “Right… but I need you to help me get a residency permit before I open a bank account”, “Be we can’t accept….” And so on…
Ah, Securite Generale, how I love you so.
Thanks for posting.
A bare truth · 766 weeks ago
I spent my summer wondering what happened to my renewal. My life revolved around them for two months. It took 10 days to get my first residency issued, two weeks to get the lost one replaced and two months to renew it.
britinbeirut 38p · 766 weeks ago
Getting my residency papers, along with the work permit, took around one year.
That was when Lebanon didn't have a president.
As for the banks ... well... leaving means settling outstanding credit card debt. Which is irritating.
A bare truth · 766 weeks ago
I've been with Audi for five years. Their customer service is great. They were very helpful during the 2006 war. I would send them an email during my travels and I would get whatever i needed to done. I wasn't affected during last year's fraud but some of my friends did. Audi notified them. Three months ago, I received an sms from them notifying me that one of card is getting replaced due to a fraud attemp and that i can pick up the new one in 48 hours.
I have been a satisfied customer (I hope I won't jinx it)
Personal Loan · 289 weeks ago