Unempowered Frontline Employees at African Bank

I played noticed on my 31 day notice account on 21st July 2021. However on the 22nd July I called to see if I could get the money before the notice period. I talked to the first consultant who said the penalty fee was going to be R4000. I told him it was too steep but he said these are the banks rules. so I asked if I could speak to his manager. The manager was not available so the assistant manager came on line but he also said the penalty amount cannot be changed. These are the banks rules. so I suggested I close all my accounts because the bank is not customer centric and that other banks are charging 0.3% to 3% and this rate is negotiable. But to no avail. when I got cross and told them about losing customer which might lead to the employees retrenchments, he then suggested I speak to the people in investments which was going to take upto 7 working days.

On the 26th July 2021 someone from investment called me but did provide a satisfactory solution to my concern. He just said the penalty which was given to me still stands. then I said since the bank is not customer centric but only interested in making money from clients and that what they are telling me is not satisfactory, they will hear from me at helloPeter. This is what I have learned from experienced with African bank 1. Their front line employees do not seem to be empowered to make decisions in order to retain customers 2. Their front line employees seem to be told to strictly follow rules without looking a the merit of a circumstance 3. Their front line employees seem not to understand that the customers are actually paying for their salaries and that when they lose customers, some of them will be retrenched. 4. Their front line employees seem not to understand that without customers there will be no African Bank.

I have been very disappointed by this behavior of the employees and after been a long standing client of the bank, I will be closing my accounts as soon as I get my money. I feel in the bank cant meet me at my point of need and appreciate the fact that they are actually making more money from my investment when they lend the money out than the interest they are paying me. So I will be taking my money to another bank understands me better and who are willing to negotiate with me as a valued client.