So today I went to Bank Med to open myself a bank account here in Lebanon. For all you people outside the country, shit happens very very differently over here. Some for the better, other for the seriously fucked up.
The first that you realise, is that you actually have a bank manager. You have a problem, you have an issue you want to deal with, a transaction you need help with, here is a name that will provide you with the information you require. He knows all your information, he knows where you live, how much you make and generally where you are. In a country the size of Lebanon (fucking tiny) your bank manager knows a great deal.
In London, I’ve never had to speak to a bank manager…since I opened my account back in Nottingham in 1997. This lack of Bank manager for your mortgages was one of the things that the government lamented was missing and part of the reason for the economic depression.
Where was I? Oh yeah, back to my bank account. So I’m about to sign up and the guy tells me a general clause that I have to sign. The first is the fact that I’m not allowed to take with me the terms and conditions of my new bank account. I’m sorry, what the fuck? You want me to sign an 8 page document, and you don’t want me to take a copy to review at home later on, or for me to understand my rights? Nope, you cannot. This is ‘confidential’ information by the bank and for the bank? Obviously you’re allowed to read through the thing and the guy will get you a coffee while you wait. The pertinent points of course is that you get a SECRET ACCOUNT. As in, nobody is allowed to get into it, not the government, not anyone, well at least that’s what I’ve been led to believe, except I can’t tell you because that fucking information was not given too me.
The other thing of course that made me stop was the bloody way in which I was made to sign another form which basically allows the bank to keep the cash ‘frozen’ in the account for 6 months if it’s over $100,000. Ok, what the fuck is that all about? Not sure, but the value of money wasn’t written on the form. Seriously, as if it was some big secret.
Trust me, it won't be held for smaller values, just for monies over $100k.
I left the bank with an account, but with little information regarding my rights as a client or as to what my fees would be and what I would require to pay, interest rates etc. In a way I feel cheated. Cheated because I have no other option but to open a bank account in this stupid fashion. It’s not just BankMed that does this, it’s most (if not all Banks over here) or at least that’s what I’ve been informed (Bank Audi is just as elusive with information, except they charge you for EVERYTHING).
I’ll stop moaning about this, just thought I’d share today’s experience. Merry Christmas everyone, hope everyone has a great one.