Having been a loyal customer of XYZ wallet for years, I was excited when the platform introduced the USD Card service through app under the Neo banking section. With high hopes, I opted for this service, which directed me to open a new account with ABC Bank. I was led to believe that the process would be quick and seamless, as the service was presented as an online, app-based solution. However, I was immediately disappointed when I was informed that I needed to visit the bank in person for further processing and KYC verification.
If I had to go through the traditional manual paperwork for KYC verification, I fail to understand why this online service was even launched in the first place.
To make matters worse, after visiting bank branch, I was directed between multiple staff members, with no clear accountability for the task. I was initially met with uncertainty regarding the product I was using, that reflected a lack of alignment between the wallet and the bank, despite being affiliated companies.
I was told to fill out the new account opening forms all again(not KYC but new account opening) and that the KYC verification would be completed the same day, specifically after 1:30 PM. However, since it was a Friday and the bank was closing soon, it now seems like the delay may have been intentional.
It has already been five days, and my KYC has still not been updated.
This entire experience has been frustrating and disappointing, especially since I trusted that the online-based process would be simpler and quicker. Rather than simplifying procedures, it introduced new layers of confusion and delay. Maybe we are not ready yet for these online services -not because the idea itself is flawed, but because the necessary infrastructure, integration, and user support are still lacking.
If this is the experience for someone like myself, a graduate student with moderate digital and financial literacy, I can only imagine how challenging this situation must be for individuals who may not be as familiar with such procedures or technologies. For now, I’ve decided to opt out, though I may consider rejoining in the future. I hope the system improves to offer a smoother and more accessible experience.
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