MCB FX Account refuse to give 500 euro


#1

just want to know how and where i can complaint about mcb, my brother open euro fx account in mcb and he deposit 6300 euro then i send another 500 euro to him that mcb account now when he went to cash as he need this money bank gave him 6300 but not 500 and refusing to give it now i dont understand what is going on there is there any where i can seek some justification about it? i even sent complaint on mcb web site but no response after weeks and on their web site no contact number for international customers just UN number.


#2

Banking Mohtasib Pakistan

http://www.bankingmohtasib.gov.pk/complaints.php


#3

[quote=", post:, topic:"]

Banking Mohtasib Pakistan

http://www.bankingmohtasib.gov.pk/complaints.php

Srizbi botnet generates 46 percent of all spam traffic

[/quote]

thanks for reply but to just let u know i m not agree with this,

90% done by alone us how 46 can be by anyone els??


#4

[quote=", post:, topic:"]

just want to know how and where i can complaint about mcb, my brother open euro fx account in mcb and he deposit 6300 euro then i send another 500 euro to him that mcb account now when he went to cash as he need this money bank gave him 6300 but not 500 and refusing to give it now i dont understand what is going on there is there any where i can seek some justification about it? i even sent complaint on mcb web site but no response after weeks and on their web site no contact number for international customers just UN number.
[/quote]

as a matter of fact… do u know about withdrawal tax or not? letme tell u

Amount (tax) breakdown:

1-- Govt of Pakistan charges 5% ( yes it is percent) of the amount withdrawn from FX account

2-- Bank withdrawal charges 1.8-2.5 % (yes percent here again)

so u pay 7%-8% as a withdrawal tax …so for your 6300 EUROs its aounrd 450-500 Euros Tax only

They are doing it legally and u cannot challange it as it is the law. I came to know of it when i went to open FX account…i asked them in details how much will they charge if i tried to withdraw all the money from fx account and they told me about charges details

i was shocked to hear 6-8 PERCENT cut… come on ppl thats insane…but yes it is true…so u cant win there dude…just relax …u got the money that is yours on withdrawal

thats why i didnt open FX account in the first place when i heard the withdrawal method n details.


#5

[quote=", post:, topic:"]

thanks for reply but to just let u know i m not agree with this,

90% done by alone us how 46 can be by anyone els??

[/quote]

What is it that you don’t agree. By the way this news is old now.


#6

that is really insane why not then say to people dont use banking services then putting some tax on it. like u put money in account and then you have to pay tax on your money coz you gave to bank to use it. and TechMan there is line on your every post "Srizbi botnet generates 46 percent of all spam traffic" i m not agree with that.


#7

my friend you are not gonna get any thing back...there are two reasons for this

one is explained above and another is our system is kaputt


#8

Then Government say why people use hundi!? That is WHY!!! these charges are way too high. This is like daylight robbery.

@flatpack

That's true. But may be not anymore because news is a bit old.


#9

No wonder current democrashic government says that remittances are up. :D

Flatpack's 450 Euros were looted legally. Remaining 50 Euros (10%) went to the honorable President's pocket. :lol:


#10

to send money via bank is cheaper but to keep in Pakistani bank isnt.

>>>>>>>>>>very expensive lesson learned<<<<<<<<<<


#11

Big banks are robbing people in this way like MCB , Standard Chartered , Royal Bank of Scotland ( Formaly ABN AMRO Bank )


#12

[quote=", post:, topic:"]

No wonder current democrashic government says that remittances are up. :D

Flatpack’s 450 Euros were looted legally. Remaining 50 Euros (10%) went to the honorable President’s pocket. :lol:

[/quote]

good to know you are stil after 10% :D(mr. 10% as i say ;))


#13

[quote=", post:, topic:"]

Big banks are robbing people in this way like MCB , Standard Chartered , Royal Bank of Scotland ( Formaly ABN AMRO Bank )
[/quote]

its not the bank policy…it is the government policy… 5% is levied by government and goes to government… as for 1.6-2 percent taken by bank although it can mount to alot but keeping FY account in a country where rupees devalues rupee devalues 10% a year its not a big loss…it is recovered as PK currency devalues infront of eavery world currency … only 2 % would be fair enough… but 7-8% is not.


#14

[quote=", post:, topic:"]

Amount (tax) breakdown:

1-- Govt of Pakistan charges 5% ( yes it is percent) of the amount withdrawn from FX account

[/quote]

Hello this is the first I have heard of this tax. Please provide more details about this tax since I have never heard of it before. Alternatively please provide a link to a page proving more details on a site that belongs to some authoritative source like the FBR?


#15

How abt this scenario... i talked to a guy in Meezan bank...he said you open a foreign exchange account...the the FX money come and convert it to Pak Rupees (via interbank rates)..will the above mentioned charges still be deducted.


#16

[quote=", post:, topic:"]

Hello this is the first I have heard of this tax. Please provide more details about this tax since I have never heard of it before. Alternatively please provide a link to a page proving more details on a site that belongs to some authoritative source like the FBR?

[/quote]

ask ur bank. or try to withdraw money from fx…enuff to prove it…

or if u still want more …google


#17

[quote=", post:, topic:"]

How abt this scenario… i talked to a guy in Meezan bank…he said you open a foreign exchange account…the the FX money come and convert it to Pak Rupees (via interbank rates)…will the above mentioned charges still be deducted.
[/quote]

money in fx stays as fx…thts y its called fx account… it converts to Pk cuurency when u deposit the withdraw check to a pk currency account…