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Review by paul mahon9 months ago
This company is a joke.
Unfortunately they don't have any competition therefore they treat their customers like dirt
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Review by kn5 years ago
Was a long-term customer at this bank. Initially they provided a great service, but since 2013, service has been horrible. mishaps include, emails not answered or answered after lengthy delays, staff not being upfront about handling of emails, slow transfers (even though the actual Transfer is instant) due to slow processing of money transfer instructions, Huge banking fees, which may be considered as "hidden fees".
They offer attractive rates on Non-Resident Foreign Currency (NRFC) accounts, however, service does not match. Bank of Ceylon (BOC) terms and conditions says e-mails will be responded to within two days. Many occasions I have not received any response at all. You then have to write to their head office, then the assistant General Manager's office contacts the branch and asks them to reply. Sometimes there is no response from the assistant General manager's office either, then you need to contact the BOC branch in London, who contacts the local branch in Sri Lanka to ask them to respond. All this while, your instruction to wire money across remains in limbo. Once, I telephoned the BOC Branch in Colombo, Sri lanka (where I hold the account) to ask what's happening about a transfer, the staff member said they are awaiting "head office approval" for a transfer, moments after the call, the funds appeared in my UK bank account.
Have asked them about applying for Internet Banking. They sent the relevant forms, however, received contradictory details about what documents are needed, so could not apply for this service.
Be careful, if you hold Fixed deposit account, the account auto-renews upon maturity. This is not mentioned on their website.
When asked about the fees for transferring from Sri Lanka to UK. They did not reply, and then after I asked repeatedly, the Manager of the Travel & Remittances Department said fees are charged by the correspondent bank. The next day I received an email from my branch to say they were charged by the correspondent bank AND they may "be varied according to the time to time decisions made by the higher management"
On a recent transfer, after a lengthy phone conversation with the branch manager, she promised to waive the 16 GBP correspondent bank fee, when I sent her the transfer instruction by e-mail, she responded saying that after contacting head office, it now turns out that she is no longer able to waive the fee. Rudiculous!.
Their repeated mantra for not being able to respond to emails is that they are overloaded with work. From my experience with them, I am pretty sure, they don't have procedures in place, and everything is done in an ad-hoc manner. i.e. lot of fire-fighting.
If you want peace of mind, avoid this bank at all costs. For over two years they have caused me enormous stress and anxiety, which I don't wish upon anyone.
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