ps bank car loanWhile all of us Filipinos should look forward to automation and speed of service to customers in terms of auto loan and other banking related services, PS Bank obviously doesn’t. Unlike what other countries have been aiming to go for and achieve ultra fast service to customers since time immemorial, some Philippine banks probably have the worst kind of backward car loan customer service response in the world. (full photo credits to

If you are to ask me as your loan consultant why I came up with this idea is just simple. Because just today as I was able to talk to a possible client (let’s name him Mr. Mates) for a car loan takeout under financing with a bank and I asked him if it’s possible for him to produce documents for his car financing with PS Bank like the release of chattel mortgage and car loan payment statement of account for purposes of loan takeout. He called PS Bank and told me afterwards that the bank representative said it will take 3 days after the full payment is made for him to request for a release of chattel mortgage document and 2 weeks for a full statement of account with his car loan payment history.

Whats worse is that the said release of chattel mortgage document will take another 3 days to be in your hands. I said MY GOD! How backward can their service be in those terms presented to a paying client? Just imagine 6 days lost  and how much people can loose just by not being able to get what he or she deserves upon full payment of a car financed collateral loan?

While we are closely watching how the internet has evolved to making all sorts of information automated and easily available to all walks of life, regardless of where and how we live, there is this bank in the Philippines that doesn’t, won’t and can’t even give its customer the right service he or she deserves and the kind of treatment that should be rendered to customers?

The Conversation Goes Like This:

Mr. Mates: Sam, I was able to ask PS Bank if I fully pay my remaining 2 months balance, how long will it take me to get the “release of chattel mortgage”?¬† PS Bank said that after full payment, a request can only be made 3 days after. It will take according to Mr. Mates another 3 days before the said document will be on his hands.

My Reply: Mr. Mates, if a document cannot be requested the same day you paid your car loan in full, what’s the use of paying it at all? Isn’t it supposed to be a system generated term that as soon as a payment is made, a few minutes or hours, a payment is supposed to be posted under your name and account with any bank and any type of loan? I also said how backward can that kind of service be. I’ve thought to myself that I’ve experienced paying my credit card bills amounting to 70 thousand pesos with my bank and in a couple of hours, not days. the payment was already posted and I can access the FULL details online. Doesn’t PS Bank have such kind of system listed on their service? So my question is, why is it so that with PS Bank, a payment made for the purpose of getting a document will have to take 3 days before a request alone can be made? And how come with PS Bank, it had to take (according to Mr. Mates) another measly useless 3 more days before the said document can be released and given to him?

If the only bank in the Philippines is PS Bank, My God, no customer can ever be satisfied with such service. Mr. Mates is looking for ward to file for a car loan with my assistance and he needs those documents to be given full qualification to apply for our car loan takeout and yet even if it’s a life a death situation it seems, this bank won’t give the rightful quick service that Mr. Mates needs of them deserved in due by a PAYING customer. I felt so glad I didn’t bank with this bank and chose another provider for my financing services. I have availed for the banking service of at least 5 banks and so far, I’ve never felt so neglected and treated less with these banks in my lifetime of financing and banking needs compared this client of mine. He’ll be using his supposedly funds applying for a car loan takeout to go to Taiwan and since the bank failed to render the right, service, all else is lost for this client of mine today.

He called me again the 3rd time and said that if he will request for just a 3 months statement of account in his car loan payment, will it be enough time for him to get his car loan takeout with us easily approved. He also told me that compared to a 6 months – 1 year statement of account, a 3 month payment posting document will only give his bank 1 week to be given to him. I told Mr. Mates that is a simple single document will take the bank 5-days to 1 week to issue, how much more if the process of taking out his car loan with this bank? How much agonizing long days will he have to wait just to get his loan processed by us through this very slow service of his bank? He just answered – “Oo Nga Ano” in Tagalog which means “Oh Yes! Why did I not realize that”