Was asked to collect registration card by my son with an authority letter (sent by email after letter with signature had been scanned). My IC was inccrrect as well as incomplete but this turned out not to be a problem, but the signature! I must admit, I wasn't too happy with the faint signature, but despite this, I was told his signature was too different from that shown in the HP agreement!
I told them I am the father of the borrower, and my IC shows the same address, but that weren't good enough. According to their procedure (as required by auditors), the signature must be similar and that the two were too different. The alternative was to ask my son to fax another letter properly signed direct to them.
The standard operating procedures can be very different between banks. I wish to compare my personal experience dealing with HP accounts of Hong Leong Bank and CIMB.
After having paid my 7th instalment (of my 5-year loan), HLB asked me if I wish to take home the car registration card! In the case of CIMB, my son had just paid 47th instalment of same period loan, and yet I had to face the hassle mentioned above! Why the former bank could trust me with just 7 prompt payments but the latter could not despite having paid almost 4 years out of 5?
HLB sent me yearly statements of instalments paid, but I have just confirmed with CIMB that they do not send out yearly statements. In other words, 'no news means good news' until you receive a warning letter of unpaid instalments. I have just used Maybank's Giro Interbank Transfer (for the first time) and I had to ask CIMB Auto Finance whether the payment had gone through. With earlier payments by cheque, I had to rely on the acknowledgements and assume everything was ok.
By the way, Maybank Batu Gajah has created problems for some of their customers concerning HP instalment payments. Customers are advised to use the ATM machines wherever possible to avoid joining the long queues waiting to be served at the counter. A foodstall operator had this problem of not using the cash deposit machine because it accepts only certain denominations of Ringgit. By using the machine, she has to pay a sum over and above the instalment amount. She has no cheque account and does not use internet banking.
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I told them I am the father of the borrower, and my IC shows the same address, but that weren't good enough. According to their procedure (as required by auditors), the signature must be similar and that the two were too different. The alternative was to ask my son to fax another letter properly signed direct to them.
The standard operating procedures can be very different between banks. I wish to compare my personal experience dealing with HP accounts of Hong Leong Bank and CIMB.
After having paid my 7th instalment (of my 5-year loan), HLB asked me if I wish to take home the car registration card! In the case of CIMB, my son had just paid 47th instalment of same period loan, and yet I had to face the hassle mentioned above! Why the former bank could trust me with just 7 prompt payments but the latter could not despite having paid almost 4 years out of 5?
HLB sent me yearly statements of instalments paid, but I have just confirmed with CIMB that they do not send out yearly statements. In other words, 'no news means good news' until you receive a warning letter of unpaid instalments. I have just used Maybank's Giro Interbank Transfer (for the first time) and I had to ask CIMB Auto Finance whether the payment had gone through. With earlier payments by cheque, I had to rely on the acknowledgements and assume everything was ok.
By the way, Maybank Batu Gajah has created problems for some of their customers concerning HP instalment payments. Customers are advised to use the ATM machines wherever possible to avoid joining the long queues waiting to be served at the counter. A foodstall operator had this problem of not using the cash deposit machine because it accepts only certain denominations of Ringgit. By using the machine, she has to pay a sum over and above the instalment amount. She has no cheque account and does not use internet banking.
Maybank service is sucked.
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