On January 20th, a woman in Xinyang, Henan Province, posted a video crying for help, claiming that her 800,000 yuan (RMB) savings in a commercial bank had been secretly transferred to bonds by bank employees and she couldn’t withdraw the money. This news quickly became a hot search topic on Baidu on January 22nd.
In the video posted by a netizen on January 20th in Henan, titled “Where is the safest place to keep money”, the woman mentioned that her 800,000 yuan savings in a bank in Guanshan County, Xinyang, Henan, were converted into bonds, and now she cannot withdraw the money. In the 13-second video, a woman sat in the bank lobby in tears, pleading, “I want my money… the bank is not helping at all,” attracting a crowd of onlookers.
According to a report by Huashang News on January 21st, the woman in the video stated, “I opened the account in 2022, deposited 800,000 yuan in their bank without a deposit slip.” She further explained, “We had a one-year fixed deposit, and the staff converted it to bonds. It would have been fine if we had a deposit slip. Now the bank refuses to acknowledge that it was their employees’ fault.”
On the afternoon of the 21st, bank staff responded by saying, “It depends on the type of product being saved. Some have deposit slips, and some do not. In the case of no deposit slip, the money is stored in the bank account.”
It was revealed that both parties have reported the incident to the police, and the county economic investigation team is conducting an inquiry. When asked about the investigation conclusion, the bank staff mentioned, “This involves customer reasons, and we are not at liberty to disclose. As for whether it involves any issues on the bank’s side, we will rely on the investigation conclusion from the judiciary.”
Regarding whether the bank handled transactions without the customer’s consent and if they could provide evidence, the staff replied after consulting, “For interviews, please contact our upper-level bank. This involves customer privacy, and there has been a judicial ruling on this matter, for which our bank bears no responsibility.”
Reports on Financial Frontline on January 21st indicated that bank staff stated the situation falls under customer privacy, making it inconvenient to disclose specifics. As the incident occurred two years ago, legal proceedings have already concluded. The customer’s crying at the bank is seen as an emotional release, and the bank can only offer comfort at this time.
Due to similar incidents frequently happening in many Chinese banks, this case has garnered attention and discussion among numerous netizens, with over 600 participating in discussions on Tencent’s website alone.
Many netizens expressed confusion, questioning, “If it’s a fixed-term deposit, why can’t it be withdrawn?”
Another netizen cautioned others, advising to always request a physical deposit slip when handling savings or confirm account details to prevent falling victim to verbal promises from others.
Analyzing the situation, a netizen known as “Uncle 78” remarked, “If there is a fixed-term deposit deposit slip, the account holder would win any legal battle. However, without a deposit slip, it becomes challenging. Whether it was due to the account holder’s greed for high interest rates or other reasons by bank employees, it’s hard to explain.”
One netizen pondered, “So, what happens to the money in the end? If it truly can’t be withdrawn, I would cry too. Shouldn’t the bank be held accountable for this?”
Another netizen, “Yude Master,” suggested, “After reading various news in this area, I have consistently opted for demand deposits in recent years, firmly refusing fixed-term deposits regardless of how many calls the bank staff make or even if they come bearing gifts. I stand firm in avoiding fixed-term deposits. If you want to collect others’ eggs, be prepared for them to watch your chickens. See what happens? Another person aiming to collect eggs ended up losing their own chickens.”
A netizen named “Blooming Happiness” shared, “This phenomenon is not limited to just one bank in Henan. Customers requested fixed-term deposits, yet the counter staff stealthily purchased financial products or something else. Many lacking professional knowledge are deceived, some are completely unaware of the situation and sign documents based on the teller’s guidance. My relatives experienced this as well. Luckily, when asked where the deposit slip was on the same day, the relative noticed something amiss when they were told there was no deposit slip by the bank. Promptly going to the bank for inquiries, they discovered their deposit had been used to purchase financial products.”