Diamond Trust Bank, earlier named by the Central Bank of Kenya as having been involved in the NYS scam money laundering, is again on the defensive after it billed its' customer of 5 years for a deal that neither went through or was authorized.

The customer (name withheld) for security reasons was buying dollars for Sh300 million. But before he gave a final confirmation, another bank (KCB) offered a better deal and he went for it. 

But an unhappy DTB hit him back with a terse email saying, "further to the e-mail requesting us to cancel the deal of Sh300 million booked at a rate of 102.18 for bank selling US dollars, kindly note we have cancelled the deal and recovered the cancellation charges of Sh150,000.00 from your account'

But the DTB client has argued that: "There has never been any communication to us officially of any penalty due if a verbal deal is not followed through, There was no deal reference provided to us on phone and the email from your bank was not acknowledged or responded to"

The client, who wrote to Cofek asking the Federation to assist him recover the Sh150,000 has asked the bank to send him "official communication on letterhead of your intention to penalize us. Please also explain how your ‘penalty’ figure of Sh150,000.00 was arrived at. Please confirm how you bank suffered a loss from this"

"Other than that, I would like to take this opportunity to express my utmost displeasure of how DTB is dealing with this issue. There is obviously a total disregard of customer service and a one-side, heavy-handed approach to this. I can see ‘service excellence’ is in copy here, I hope they note that the word ‘relationship’ does not apply when DTB deal with clients. It’s a shame"

Cofek wrote to the bank CEO Nasim Devji (pictured) on October 30, 2018 who is yet to respond. It has instead began re-negotiating with their client and has consistently removed Cofek from copy on the emails from the bank. 

How the DTB client complained to us

I would like to lodge a complaint against Diamond Trust Bank Kenya (DTB). We bank with both DTB and KCB. This morning we inquired from both DTB and KCB rates for purchasing US Dollars in exchange for Kenya Shillings and ended up using KCB to purchase the US Dollars. DTB then debited KSH 150,000 from our account without consent claiming that it is a penalty for a cancelled deal. Despite our emails and phone calls asking for justification, DTB debited the funds and have not provided and explanation or justification. I would be very grateful if you could assist in this matter.

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