If you were looking for a really quick loan, say in 1week, or 3 days, or even 2 days, which bank in Ghana would you go to?
UT Bank. That was easy.
What if you were looking for a home loan? You'd try Ghana Home Loans or maybe HFC bank. Right?
Well, instead of a quick loan or a home loan, what if you were looking for something else. Something like quick service? If you didn't have hours to spend in a line. And really really wanted a bank where you'd never spend more than 10 minutes in line. Which bank in Ghana would you go to?
Err...I don't know.
If you do, please tell me because I would close all my other accounts and sign up with them pronto. After my husbands horrific experience last week...spending hours in an Ecobank branch to simply withdraw money (because the bank was again slow with giving him a checkbook and an atm card), I'm sure he'd join too. I would be so thrilled about finding such a bank that I would probably blog about it, and I'd tell everyone. Because it would be a remarkable find indeed.
And all the bank would have to do to steal me from Ecobank is offer me the only thing I really care about when I walk into a bank...which is speed.
But none of the banks is offering speed. And no, not the drug:)
Instead they're offering products. Lots and lots of products. Every company has their own special package for small businesses, for personal banking, this and that. The average person doesn't know what the packages do. And frankly we're okay without them. What we really care about, no one is addressing. Banks are trying so hard to distinguish themselves with these products and yet but the slight advantages that one bank's product has over the next bank's is not compelling to me or you.
We really just want to do our simple transactions and go home. Thank you.
Two banker friends pestered me so much about opening accounts with their banks. One was successful...but only because I felt sorry for him. Not because I was convinced that Barclays (his bank) was any better than Ecobank.
According to readers of this blog, the other banks are as bad as Ecobank or worse. Assuming that we're representative of Ghanaians, one could say that Ghanaians believe that all the banks offer the same thing. Crappy service. Except, maybe UT (Well, I don't know about their service, but hey, at least I know I can get a quick loan from them).
Since the banks are really trying so hard to distinguish themselves and are failing miserably, instead of offering complex packages, how about if they just went back to the basics. And tried to do a simple thing extraordinarily well? How about a true commitment to getting every customer out of their doors in just 5 minutes. Now that would be compelling and the next time an Ecobank customer complained about long lines, you'd better believe I'd let them know (and gleefully too) that there is now a new bank that does all this in just 5 minutes.
Slowly but surely, Ecobank would be forced to improve their service or risk going down.This isn't about doing the customer (me) good. This is about how Ghanaian banks can actually improve their bottom line by stealing more clients from under-performing banks by actually addressing the customer's pressing needs.
I'd love to hear your thoughts on this one. Bankers...join the conversation.
Truthfully, I've only done 2 transactions in Ghanaian banks, and 2 out of 2 times, I had a bad experience. My main issue with both banks was: WHY ARE THE WORKERS SO ANGRY??
ReplyDeleteMy lips are sealed.
ReplyDeleteThe least said about Ghanaian banks, the better. (And this is for those who do nothing more complex than cash cheques and deposit money.) Gone are the days when this post would solely fataa Ghana Commercial Bank. I think all of them like to see the lines as altars on which they worship themselves on their growing customer base. After all, they know you're not going anywhere.
ReplyDeleteEcobank in Tema was doing very well when they started which is why i left GCB for them , but since i started going to their HQ in Accra i have on more than one occasion wondered why i changed.at this point i waiting for ATMs that allow you to deposit cash and take out more than 400ghc.
ReplyDeletebut i must commend the GCB back office staff at Tema Industrial Area...the last time i was in there they were so helpful and nice even when my child decided to test out her screaming skills.
my favourite was discovering recently that a USD chq written on a Ghana account takes ten days to clear compared to three days for a Ghc chq. Why? 'Because we have to ring the other bank and confirm it'
ReplyDeleteBut don't you have to do that for a Ghc chq?
'Yes but this is a USD chq'
AND??????
Oh and when we said ten working days we didn't mean from the day you deposited it, but from the day it arrived at your home branch, because that's where we send the chqs.
Has anyone tried UBA or Zenith Bank. I personaly use UBA since Barclays and ecobank have been disappointing. If you are looking for speed then you should go for UBA.
ReplyDeleteI use Barclays Prestige/Premium (the exact term escaped me). I never waited in line for more than 5 minutes to get anything done.
ReplyDeleteBut then again, I am one of those people with a very high "sense of self entitlement". (my husband said it's bad).
Anyway, if I got more than 5 mins of waiting, I'd start complaining and told them that they charge extra to my account for a good reason, and that good reason is not having to wait in line. It always works wonder. :-)
Esi :)
ReplyDeleteThanks for sharing on this. I've visited Ecobank and Barclays Banks in both Accra and Takoradi where there was no tellers in the booth meanwhile, there were very long queue of customers waiting to be served. If you ever find that bank that offers, SPEED; please notify me too and I shall join you.. Nice post :)
Speed and clarity, a friendly face is also very welcome and let's be honest: it doesn't cost a thing to the people working in the banks.
ReplyDeleteEsi, I just found out about your new blog, I am looking forward to follow it and contribute as I started an own business myself. In that aspect: the slowness of the banks are really slowing down your own business as well. If you, as the owner of a business, have to spent hours in line to simply withdraw some money to pay your suppliers, then who is looking after the business?
The absence of speed at my bank (or any bank) is killing my business.
i am a banker with a very reputable bank in ghana here. we deal with high standards, and speed is key to our operations. maybe all who have suffered at the hands of other banks should try my bank...Zenith Bank and experience the zenith of banking.
ReplyDeleteThe money could be in the form of gold bullion, gold dust, money in a bank account, blood diamonds, a series of checks or bank drafts, and so forth. I think it is great how much thought and planning you have put into this.
ReplyDelete