Bank Negara ‘should set up tribunal’

Bank Negara ‘should set up tribunal’
The Star Penang 7/4/2005

Bank Negara should set up a tribunal to address the grievances of consumers dissatisfied with banking procedures, said MCA.

A case in point was when a bank deposited a client's crossed cheque into her lawyer's bank account instead of the payee's in April 2003, said Penang MCA Public Services and Complaints Bureau chief Ooi Chuan Aik.

Housewife Yeoh Poh Hong, 39, had entrusted a cheque for RM2,000 to her then lawyer for payment of maintenance fees. The cheque was made out to the management of her apartment unit.

When Yeoh realised a year later that the management had not received any payment, she checked with the bank and discovered that the cheque had been deposited into her lawyer's account.

The lawyer had been engaged by Yeoh to look into matters relating to the apartment.

Yeoh lodged a police report recently and brought the matter to Ooi's attention. The lawyer had since written out another cheque to Yeoh for the same amount after police took up the case.

“The bank's action was a breach of duty and a case of its negligence towards the customer,” said Ooi at a press conference.

“When a person issues a crossed cheque, he should feel secure that only the intended recipient will get the money.

“The bank cannot simply clear cheques that have been issued to another person,” he said.

Bank Negara, Ooi said, should set up a tribunal to look into the woes of people facing banking problems.

Yeoh said the money was only returned to her after a lot of difficulties on her part, seeking legal advice and lodging a police report