Bank Loses Huge Deposits, Officials Still Unsure As To Why

Bank Loses Huge Deposits, Officials Still Unsure As To Why

Recently the Industrial and Commercial Bank of China has had ten depositors in quick succession file complaints because they claim that their money has vanished for no reason. One woman in the past year deposited about 10,800,000 RMB earned over a 20 year period. But in the beginning of May she received a notice that only about 124 RMB remained. Many people were attracted by extremely favorable rates (One year fixed deposit gets 10% interest), and dumped large sums of money into the bank. The problem probably started with this promise, but the police are still unsure as to the exact error.

Source: Tencent

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  • UserID01

    I kinda feel like ever since these “digests” became a thing on ChinaSmack, actual site participation (posting) among users has gone down dramatically.

    • bujiebuke

      What’s also interesting is that the shorter story policy seems to affect only ChinaSmack and not the other sister sites JapanCrush and KoreaBang.

      • Vance

        Yea what happened. I could understand it either Kai or Fauna just got to busy to run things and went offline, but both of them at once? I have not seen either one in the comments or articles section since this whole thing started. What-did they elope and spirit off to a tropical island?

        • bujiebuke

          There was a random post by Kai last weekend asking for commenters if they’re interested in meeting with them and wikimedia ON THE NEXT DAY. Just keeps getting weirder…

      • UserID01

        Yeah, JapanCrush and KoreaBang still seem to get some regular posting with good amounts of conversation going. IndoBoom and RussiaSlam seem to have gone the way of the dodo due to lack of contact, but really, I enjoyed ChinaSmack for a long time even if I wasn’t that frequent of a poster. It just seems that the site has been flooded with content and very little context, and it didn’t help foster discussion at all.

      • Dolph Grunt

        What I find kind of ironic is that there’s quite a bit of posting about lack of postings. :) I just did it.

  • once people lose faith in the banks
    boom financial collapse

  • WghUk

    That really sucks when your country’s banks lack trust and credibility. Best ask boss to pay you in cash and keep it at home.

  • Foreign Devil

    ICBC is one of the biggest banks in CHina and the world. If they don’t immediately allocate funds for these people and just say “we don’t know what happened” then there is going to be a serious banking crises in China. Also offering a 10% guaranteed interest rate??? How does the bank expect to make profit?

  • Vance

    It is universal that the non-banking community is wary of the shenanigans of the banking world, and rightly so, but I will say one thing for the banks here is that they have always worked as consistently as possible. I’ve never had an ATM give me te wrong amount of cash, and if I put money in the bank, it was there when I needed it…of course, I always need it so it never sits in the bank for very long for something to happen to it. lol!!

  • Bing

    jesus 10M RMB.

  • James

    This is why you should keep all your records and deposit slips. Don’t trust banks.

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