Frustrated consumer complaint on Diamond Trust Bank forex rate

My apologies for bringing this back to you, and worse that it’s a complaint.

I can’t seem to get what really happened, yet this matter is really eating into my reputation as well as my psychology.

Your colleague Lucy just confirmed that the money will not be refunded, as per my research (together with my partners) SA rand exchange rate hasn’t come below Sh7.4 in a long time. So we cannot understand the overnight Sh6.85 exchange rate….but that’s beside the point.

I want to submit a formal complaint that I feel as a customer I wasn’t given quality service.

I raised a complaint immediately when the money reflected on my account- that was on 4/4/22.

Exchange rate

I wasn’t given any explanation until I personally reached out to SWIFT. Our team sees this as deliberate deduction of funds because, were it an exchange rate issue, that should have been communicated immediately.

From my side, the issue of exchange rate came up because someone had to have an explanation.

I cannot imagine making a budget with an excess of over Sh200,000 just because I am not sure my bank will decide to have a very low exchange rate at any given time without notice.

Secondly, I feel like the bank let me down because of broken communication. Even when I personally went to the bank, they kept making false promises and hope that wasn’t forthcoming.

Had I been given the attention that this matter deserved, I would have returned the money or made communications to the university immediately. 9 days is a long time yet we tried our best to communicate our urgency and Sh34,000 is a lot of money to lose! Had we requested for more? Our budget would have come in half!

I am not sure if there was anything that anyone would have done, but I believe that different customers come with different expectations and flexibility.

And as per your vision as a bank: ‘Enabling people to advance with confidence and success’, my confidence has been broken.

Moving forward, we are reconsidering our association with DTB.

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