Bank Account Review

MakingEndsMeetToo

Periodically I get a call from my bank inviting me to an account review. My account is almost always in credit, payments made on time etc., so I have to assume that they want an hour of my time to try to sell me stuff. Am I being too cynical?

Inactive

No, you are 100% correct.

It's just a ploy to squeeze money from you.

altocumulus

Cynical - never - my bank always tries to get me in for a review at intervals during the year....
When they start offering a decent savings account rate, then I might, just, listen....

_Andy_

MakingEndsMeetToo wrote: »

Periodically I get a call from my bank inviting me to an account review. My account is almost always in credit, payments made on time etc., so I have to assume that they want an hour of my time to try to sell me stuff. Am I being too cynical?

Not at all, you're spot on.

Inactive

They need to meet sales targets to get their " Bankers Bonus's " or they will not be able to afford a new BMW, bless their socks.:rolleyes:

ShelfStacker_3

Inactive wrote: »

They need to meet sales targets to get their " Bankers Bonus's " or they will not be able to afford a new BMW, bless their socks.:rolleyes:

I can assure you, the bonuses aren't enough for a BMW... not even close...

_Andy_

Inactive wrote: »

They need to meet sales targets to get their " Bankers Bonus's " or they will not be able to afford a new BMW, bless their socks.:rolleyes:

You are very, very naive about the average earnings of a bank branch employee.

Extant

Inactive wrote: »

They need to meet sales targets to get their " Bankers Bonus's " or they will not be able to afford a new BMW, bless their socks.:rolleyes:

Here's what Unite the Union has to say about this:

Unite_the_Union wrote:

The average salary for a Barclays employee is £16,500.

You think that's bad? Read this next bit:

Keith_Brookes,_from_Unite_the_Union wrote:

Banks make vast profits but they often try to pay staff as little as they can get away with. Barclays are bucking this trend and giving their staff a fairer share.

Taken from this: http://www.amicustheunion.org/Default.aspx?page=7312

So, as you can see, the average wage is only £16,500 and that's at the high end of the market.

I will admit that this does not apply to me, but I am not going to apologize: I work 50 hours and over a week, I work hard for my money.

Extant

just_ask wrote: »

That is shocking!

And Barclays Manager, you yourself don't even make £30k

With such bad salaries, what makes a person decide to work in a bank?

Thankfully I do make more than that, but I'm not gonna tell you how much. Me and my payslip have a very private relationship.

That said, I know I could - and most employees at Barclays could - make significantly more working elsewhere.

I could say that I work for Barclays because of the great benefits we get, but the simple truth is that I honestly do just love my job and the people I work with. It's also the same with the people I work with - we're here for the love of the job; motivated because we believe in Barclays and want to succeed.

new2civvystreet

Inactive wrote: »

They need to meet sales targets to get their " Bankers Bonus's " or they will not be able to afford a new BMW, bless their socks.:rolleyes:

Actually it's a case of 'you don't meet your planned points this week and you're in trouble you naughty little branch'

You might not believe this but some bank staff (myself included) actually want to help. They might be able to give you a cheaper deal on your car insurance/home insurance/mortgage etc etc and save you some money. Or make sure you're not paying too much tax on your interest.

Reviews are part of the bank's service and at the end of the day you chose whether or not you have them.

ldavies_3

There is nothing wrong with being rewarded for achieving your objectives. It promotes healthy competition within the team.

This is based not only on sales but a range of components.. actually, sales are only a very tiny part of the bonus structure.

As BarclaysManager has said, I also work well in excess of my 35 hour week and have no trouble at all in accepting my bonus.