BDO takes over GE Money Bank

Last week, BDO announced that it is taking over GE Money Bank (see Inquirer story). The takeover will add to BDO’s increasing empire in the banking industry.

I wonder if this takeover spells badly for GE Money Bank depositors. After all, BDO’s customer service has gone from bad to worse ever since it took the number one position. Its customer service (with rare exceptins) is so bad that it has even surpassed the terrible customer service of Metrobank, who used to hold the worst customer service in the banking industry.

I almost opened a GE Money Bank time deposit a few weeks back. I was just fortunate that I was too busy to a lot a couple of hours to go to Robinsons Forum Pioneer to open one.

Don’t get me wrong. Despite my annoying experience with BDO (see story), I continue to maintain my savings and checking account with them. But it’s only because my branch provides good customer service. But I still wonder what will banking life be for GE Money Bank clients?