'Stanbic Bank Intentionally Messing Up Mak Students' Internship Allowances'

In an expose that is bound to have students incensed, Bala David, the Makerere University guild president has revealed to Campusbee that Stanbic Bank staff at the university branch intentionally distort the information regarding the bank accounts of many students who hold accounts with other banks such as Centenary Bank, Crane Bank and DFCU Bank.

Traditionally, Stanbic Bank is the one to which the University dispatches all the internship allowances and in turn Stanbic distributes the money to other banks where students proceed to pick their allowances from.

Mr. Bala says the University dispatches the internship allowances and the correct account information to Stanbic Bank but when Stanbic is distributing the money to other banks, it allegedly chops one digit off the students’ accounts when it is forwarding the information to those other banks.

The document showing account numbers with missing digits that Stanbic Bank sent

This way, when Stanbic sends the money to other banks, the money bounces back and those students who bank with that bank end up not receiving their internship money since Stanbic sent incomplete account number information.

Interestingly, students who bank with Stanbic get their money on time while some students from the same faculty but not banking with Stanbic fail to get theirs. In Mr. Bala’s view, this is calculated to influence students to abandon those other banks and instead open up accounts with Stanbic since it handles their money faster.

The manager of Stanbic Bank, MUK branch has denied knowledge of such doing.