Embattled Chase Bank which was put under the management of the Kenya Deposit Insurance Corporation (KDIC) last week, has provided answers to some of the questions its customers have frequently been raising.
Regarding how clients can access their money, the bank has stated that as at now, no types of accounts shall be paid or any claims of any kind met.
During the period of receivership, Chase Bank has confirmed that all Visa/MasterCards including supermarket shopping cards linked to their systems would remain blocked.
The financial institution has also responded to those who had unpaid cheques or pending transactions, saying that the cheques would be returned unpaid since no payments are allowed to be made.
Clients who had outstanding loans with the bank have now been encouraged to continue meeting their obligations, stating that KDIC would provide a list of branches to receive the payments.
Addressing concerns over the fate of it's employees, Chase Bank has assured that they would retain their jobs stating: “The employees still have their jobs and they will be assisting in the recovery plan to restore the business of the bank”.
On whether customers would be paid money withheld in their accounts, the bank says that it would not happen immediately since KDIC was conducting due diligence to develop the best plan for recovery and restoration of normal operations at the bank.
Most of the account holders at the bedeviled bank have also been asking about when it would be reopened. The bank has however indicated that: “Once KDIC has established the true financial position of the bank, we will communicate to the customers and the public”.
Chase Bank was placed under receivership by the Central Bank of Kenya, a move that caused panic among its clients who are now unable to access their money.
Read Also: Chase Bank Placed Under Receivership
This has led to disappointments among small scale business persons who have expressed their anger towards the bank's senior management linked to the collapse of the institution.
Read Also: REVEALED: The Sh7.9 Billion Loan that 'Killed' Chase Bank
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