Communication, Transparency and Security as Customer Values

My name is Joël Terzol, CEO of Terzol Vastgoed NV.
Besides dealing in real estate as a broker, I mainly advise banking and pension funds on valuations, property management, ground rent, ground lease and estate issues.
The real estate industry feels changes in the financial sector directly in its operations, as significant amounts of transactions are made between various banks.
Currently this is proving to be a huge challenge, making our business particularly vulnerable.
This was reason for me to express my views on an unforeseen situation via my Facebook status on March 14.
On March 12, the president of the banking association called on society to go mainly by book entry, i.e. transfer money and not withdraw cash.
Just one day later on March 13, I had a EURO transfer, which required a transfer from a notary’s third-party account to my business account at and other bank. Then it turned out that the bank could no longer make non-cash EURO transfers!? The March 1 press release from the president of the banking association literally applied ONLY to US dollar transactions.
They neglected to mention that it is also not possible to make giro EURO transactions.
If this had been communicated more clearly in advance, I as an entrepreneur could have anticipated this.
I believe that the services provided by the bank should be tailored to the needs of the customer and not to the problems of the bank.
After all, problem-driven banking is something no one wants, right?
However, the customer values that the bank can offer us in this day and age are transparency through proper communication and more security.
Within the real estate industry, the bank is an important stakeholder.
It is the infrastructure through which our financial transactions run.
Compare it to a car that needs a proper road to prove its function as a means of transportation; without proper banking infrastructure, you are like a passenger car in the middle of the jungle without a proper road.
You make very difficult or almost impossible progress.
I will therefore do everything I can as a real estate entrepreneur to think along and share my knowledge and experiences for the benefit of our financial sector, because we need each other so much.
I therefore appeal to society, and especially to entrepreneurs, that we should ask ourselves how we can face the major current challenges that banks and entrepreneurs face together.
Because I completely agree with the president of the banking association.
Cashless banking is ultimately the best solution to eliminate the greatest risks and the greatest enemy of the financial sector, so-called “black money.
Therefore, if we want to be internationally financially competitive, our banks must be “compliance proof.
Cashless payments are also an important tool to make our society not only financially but also physically safer.
But how “cashless ready” are we as a society?
And how are the banks directing us to create more awareness around safe cashless payments?
Just to name a few examples for customers:

  • To what extent are customers encouraged and made aware by banks about the use of electronic cashless services?
    The lines in front of cash counters are still longer than the lines in front of ATMs.
  • How safe does the customer feel when making electronic transactions?
    Which bank has ATMs in the banking hall so that the customer feels as safe as when withdrawing money from behind the bulletproof counter?
  • How aware are we of our sense of security with cash on the street or with only a debit card in our pockets?
  • Which bank will be the first to organize an “ATM or Internet banking course” for its elderly customers?

And entrepreneurs:

  • How does your staff receive their salaries?
    In cash or by bank?
  • How much money do you spend on securing your cash registers, storefronts and value transport?
    How much would you spend for that if you went exclusively by book entry?

I want to advocate that we as entrepreneurs become more interested in the challenges of our financial sector.
The bank has its right to exist because we as a society entrust it with our money.
And then it does not matter whether you are an entrepreneur with an above-average turnover or a retired individual who has faithfully set aside a small amount per month for 40 years.
May I initiate the dialogue to jointly propose solutions to secure and efficient payments?
The will to work for the necessary changes and improvements must be ours together.
After all, we need the banks and the banks need us.
Terzol Vastgoed NV is committed to this.
God’s blessing Suriname, Joel Terzol, CEO Terzol Vastgoed NV

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