hard sell from the banks

opinions4u

Inactive wrote: »

(2) A Cashier's job should be just that in my view, just carry out the service, and move on.
So, as there is a cost in employing that cashier, would you be happy to pay a fee for their professional services to make up for the profits they are no longer generating? Perhaps £1 a visit?

(3) I don't need to be " told " about ( read flogged ) new products from the bank, I can find out for myself, thanks very much, not that my bank has ever had anything on offer that cannot be bettered elsewhere.
As your bank can always be bettered elsewhere, you are obviously not too hot at this either. Why are you still with them when there products are below par and you don't like cashiers trying to talk to you?

You simply cannot accept that customers get so !!!!ed off with this continual barrage of sell...sell.. sell.
Actually, I can. If you read my other postings here, you will read that I have stated clearly that I believe banks should train their staff better, that the selling should be part of the natural conversation within the transaction and it shouldn't be parrot fashion phrasing used on everybody. I have also clearly recommended that customers use their rights to be removed from certain types of marketing activity if it does upset them.

You are making three mistakes.

(1) You over estimate the ability of most people to shop around for the most competitive products or to utilise the benefits fully from their existing product. Counter staff help address this.

(2) You over estimate your own ability to shop around and find out about better products. You identify how bad your bank's products are, how awful their service is at the counter and you stay. Why?

(3) If you prohibit banks from marketing their services, you will further reduce competition in the market place. This will cost us all in the long term.

Extant

Inactive wrote: »

Well A & L were also fined for the same offence, so not just Egg, nor just Online Banks.:rolleyes:

And exactly how many banks operate in the UK? Two relatively minor financial institutions does not set the rule.

Also, as you're such an expert, please enlighten me on where the compliance regulations set in place by most major banks - with the help of the FSA - are lacking.

Still waiting for the securities answer, by the way.

Inactive

opinions4u wrote: »

(2) You over estimate your own ability to shop around and find out about better products. You identify how bad your bank's products are, how awful their service is at the counter and you stay. Why?

Well to be honest, they are all much of a muchness, equally as bad as each other, I am gradually moving my DD's away to another provider, however, I don't trust the banks to do it for me.

I don't buy " products " from my bank, so that part doesn't apply.

opinions4u

Inactive wrote: »

Well to be honest, they are all much of a muchness, equally as bad as each other, I am gradually moving my DD's away to another provider, however, I don't trust the banks to do it for me.
Well, you have the choice of doing it yourself or letting the bank do it for you. Good to see choice in the market place.

I don't buy " products " from my bank, so that part doesn't apply.
Opening an account, taking out an insurance, arranging an overdraft. They are all products being purchased. If you don't need any of these products, why do you keep going in to the bank?

So you can shop around yourself to identify "products" that are better. You have said that your bank never offers the best accounts (products) anyway. You now say that they are much of a muchness. You really do need some professional advice. Would you like to review your account holdings in a post on here to see if we can help you?

Inactive

BarclaysManager wrote: »

And exactly how many banks operate in the UK? Two relatively minor financial institutions does not set the rule.

So that makes everything OK then, because in your view they were only " minor financial institutions " that were scamming customers :rolleyes: ... A&L is hardly a minor institution anyway.

Kavanne

Inactive wrote: »

So that makes everything OK then, because in your view they were only " minor financial institutions " that were scamming customers :rolleyes: ... A&L is hardly a minor institution anyway.

If i missold PPI, loan or card, I would get fired. End of. The bank I work for takes it VERY seriously. And that is not just if a customer complains, we have calls monitored continuously.

Inactive

opinions4u wrote: »

So you can shop around yourself to identify "products" that are better. You have said that your bank never offers the best accounts (products) anyway. You now say that they are much of a muchness. You really do need some professional advice. Would you like to review your account holdings in a post on here to see if we can help you?

I do not " purchase " an account that costs me nothing, even you can work that out surely.

Thanks for your very kind offer, but my accounts are very well managed, I wouldn't entrust them to any so called " Professional ", they are the same kind of people that managed companies like Northern Rock and Bradford & Bingley.:rolleyes:

ShelfStacker_3

Inactive wrote: »

Thanks for your very kind offer, but my accounts are very well managed, I wouldn't entrust them to any so called " Professional ", they are the same kind of people that managed companies like Northern Rock and Bradford & Bingley.:rolleyes:

Yes, because you would do so much better.

Also, I take issue with the idea that all banks are equally bad. As with any competitive market, there's a lot of difference between them. There's a wide difference between the standards, service quality, target market, policies and product portfolios of each one. Look at the difference, say, between Abbey and HSBC, or Alliance and Leicester and Barclays.

opinions4u

Inactive wrote: »

I do not " purchase " an account that costs me nothing, even you can work that out surely.

Whether you pay for it or not it is a product.

But there is a cost to having or not having different financial products.

If you get no interest on £1,000 at one bank and 5% at another, then you have paid £50 a year for the 0% product.

Surely even you can work out that there is a cost to you there.

Extant

Inactive wrote: »

So that makes everything OK then, because in your view they were only " minor financial institutions " that were scamming customers :rolleyes: ... A&L is hardly a minor institution anyway.

I don't recall saying it was okay. Inferring without cause. The point I was making was that the actions of Alliance and Leicester and Egg, two minor lenders, did not reflect the actions of the market as a whole.

The size of A&L and Egg combined is less than 2% of the combined total of the "big five," and that says nothing for the dozens of other companies that lend in the UK.

So how you think that the actions of a minor section of the UK market indicate the actions of the market as a whole is beyond any reasonable comprehension.