Unacceptable delays
This is to bring to your notice the issue I am facing with Dubai First.
They took a deposit from me for Dh1 million with the maturity of a month. On requesting for a transfer of Dh300,000 on November 14, 2011, and Dh200,000 on November 15, they delayed the same for two days and one day respectively, without any penalties. The reason given was that the authorised signatory was not present.

I would never again trust them with my funds, as they delayed the funds and in turn charged penalties for the withdrawal of the other deposit of Dh500,000.
I request Gulf News to bring it to the notice of the readers.
From Mr Tarun Prakash
Dubai

The management of Dubai First responds:
Tarun Prakash had filed his complaint on November 15, 2011, stating that there had been a delay in transferring funds to his account, and had also objected against the penalty charges levied for early withdrawal.

Following our investigation, we have explained to the customer on November 16, 2011, that there had actually been no delay in transferring the funds, since the original request was received at 1.30pm on November 14, 2011, which is after the usual cut-off time.

Dubai First immediately processed the maturity instructions on November 15, 2011. However, and due to the cut-off/turnaround time for wire transfer by the bank, the funds were transferred to the customer’s account only on November 16, 2011.

Furthermore, and as a goodwill gesture from Dubai First, we have credited the customer’s account with one day interest for the deposit of Dh300,000. For Gulf News’ information, Dubai First terms and conditions require five working days notice by customers for early withdrawal of funds provided, otherwise deposit penalty charges would be levied on the interest rate applicable.

Dubai First remains committed to delivering the highest standards of service, and as such, we are willing to go the extra mile to satisfy our customers.

Credit shield insurance issue
On August 2011, I submitted my application for my credit shield insurance to First Gulf Bank (FGB) as I was terminated from my job. I had been paying Dh180 in monthly dues for my credit shield and had submitted all their requirements, namely a passport copy, termination letter, employment contract and company identification.

They told me that I had to submit my labour contract and labour card and I informed them that I was a government employee and that we do not have labour cards and labour contracts, but a company employment contract and company ID, which I had already submitted.

I went to the bank to clarify my insurance claim and they again told me that I had to submit a labour card and labour contract. I asked them what was the use of the labour card and labour contract and they replied that they wanted to make sure that my contract was unlimited and that the insurance company wanted to make sure that I had worked with the company for at least three years, which was their requirement.

I told them that I had worked with the company for the past 12 years, then they asked me to submit the employment contract copy again, which was updated and issued in 2007. They also advised me to check with them again to know about the reply from the insurance company.

Until now, FGB has been telling me to pay my monthly dues, including my credit shield insurance, until the insurance company pays my dues. During my last payment for the card, the machine showed nothing for my monthly dues. When I asked the bank about it, they told me that they had changed my card and given me a new card number. I am puzzled as to why they issued a new credit card, while in fact my old card does not expire until April 2012.

FGB told me to submit my employment certificate mentioning when I started and stopped working in the company and I am really worried because every time I speak to them they ask for new requirements. Until when must I keep on paying? They are only telling me that my claim has still not been approved by the insurance company.
From Mr Henry P. Garrido
Abu Dhabi

The management of First Gulf Bank responds:
Mr Garrido’s credit shield claim was raised with the insurance company in September 2011. The claim was suspended by the insurance company as they required the labour card or contract, which proves the duration the customer was employed with the company. We requested the insurance company to review the claim as there was an “employment offer” submitted by Mr Garrido that mentioned the duration for which the customer was employed with the organisation. The insurance claim was approved and the customer was informed of the same.

Mr Garrido responds:
I would like to thank Gulf News for their time and effort. I really appreciate it and I am very thankful.