Money Exchange Policy Dissatisfaction at the Commercial Bank of Qatar
Double Standarts in Banking
This complaint is about Qatar Commercial Bank operating under the name of Alternatif Bank in Turkey.
Alternatif Bank Requires a Receipt When Buying Back Physical Currency! Beware!
A few months ago, I became a customer of this bank through its digital channel because the exchange rate spread between buying and selling was low, and they offered good rates for transactions. I transferred Turkish Lira via EFT from another bank to them. Afterwards, I purchased US dollars through online banking. The next day, I visited a branch and withdrew my physical dollars. The amount was around $10,000.
Yesterday, I called their branch in İzmir Alsancak and said I wanted to sell $50,000 in physical dollars. The bank, which had not asked for any documentation when selling the dollars previously, asked me for the source of my money. They said, "You need to show a receipt; this is our bank's security policy."
We explained that we are salaried employees, we invest our savings in physical currency and gold, and that we were planning to buy a car. It didn't help. You suggest talking to the branch manager, but no, they put a young employee in operations who means well but acts like a switchboard operator saying, "I'll relay it, I'll relay it." Completely unprofessional. We offered to send documents proving we're a, salaried employees, they refused. I
In Turkey, there is no requirement to show a receipt when buying or selling foreign currency.
I sold the currency I couldn't sell to these guys to a very popular exchange office in İzmir within five minutes at a lower rate. The employee at the exchange office said they handle about $1 million in physical transactions daily and also work with banks electronically, and there is no obligation to request a receipt besides ID and address verification.
I will never conduct any transactions with this bank again. A bank that applies double standards to its customers and resists buying back the currency it sold.
When you call the headquarters, they say they can't connect you to anyone. When you call customer service, they say they can't interfere, the branch's decision is final.
I am generally dissatisfied with this bank and specifically with the Alsancak branch. I will also write to the BDDK (Banking Regulation and Supervision Agency) and TBB (Banks Association of Turkey).
We were victimized; don't let it happen to you.
Dear Valued Customer, Your message sent to sikayetvar.com has been received by our Bank, and you will be informed as soon as possible. Best regards, TEB
Wow, man, the bank didn't solve my problem for months despite me calling customer service twice and submitting requests online multiple times, but when I wrote on Şikayetvar, it got resolved in 2 days! Long live Şikayetvar!
