Lloyds just get worse with the hard sell

Inactive

chambta wrote: »

A genuine question for Inactive.

Which products do you think banks should be 'allowed' to sell?

Answered in my earlier post.

Extant

ldavies wrote: »

Thats so true.. when I received this years scorecard, i was pleasantly surprised.. the current economic climate dictates the focus and mystery shopping, internal operations, customer satisfaction surveys all mean more than a sale.. the correct place to be!

People do not realize that the targets extend to everything, from sales to service to financial losses to sending your work off to iPSL... they're never ending.

But the emphasis on my Personal Development Plan when I was a branch manager, and obviously the same for you - was the service, no matter how stupid the targets might seem: acknowledging every customer within three minutes. I had a city centre branch with twelve cashier positions, and even that was impossible - the queues would always be to the door. But, still, someone would walk the queue, thank people for waiting, tell them about express deposit, statement machines, etc. Budget allowing, they'd even have a tin of Roses or something to share out.

But God forbid you tell the people around here all that.

pinkfluffybabe

willo65 wrote: »

The cashier doesn't know your full financial situation and thats why they would suggest a review and a fully traned customer adviser could then look at ways which the bank could help you.

One of my reviews was with a new history graduate who knew less about banking products than I did.

willo65

Inactive wrote: »

I have no objection to the banks making money, I have no objection to the banks selling insurance etc.

I do object to them being deceitful by dressing up selling as " Account Reviews ", I do object to them approaching customers in the bank or by other methods without their prior consent.

If customers wish to buy a product from a bank they can access their web site to evaluate products.


It is what I would call a level playing field.

Although you disagree with the terminology it is at the end of the day a review of your account, as well as suggesting products that may benefit you quite often the bank will spot things you don't (ie Customers often with an advantage gold account will be paying seperate mobile phone insurance or Green flag cover) the adviser can then point that out so you can decide if you need that or if the cover you have with the account is sufficient.

And again what about people not on the web - without approaching you for prior consent how else would they get your consent?

Extant

Inactive wrote: »

If customers wish to buy a product from a bank they can access their web site to evaluate products.

Not every customer has the internet or will even think to review their insurance etc.

It's a simple matter of don't ask, don't get: there are plenty of customers who you can make or save money for just by asking and sitting and reviewing what they pay currently. Whilst you might see it as unfair that we ask, I'd see it as unfair that we didn't ask, and let people pay more than they necessarily had to.

withnell

willo65 wrote: »

All the customer advisers in my branch (3) all came straight in as advisors so they weren't cashiers. Fully trained in seeing if the bank can save/make you money with the banks products. They aren't going to recommend anothe rbanks products, the same as Tesco don't tell you how much cheaper a basket of shopping would be if you went to morrisons.

That's a good way of looking at it:

If I go to a clothes shop and buy a shirt, then it's ok when they suggest a pair of cufflinks to go with it. They're not going to suggest a different shop to buy them from, and you wouldn't expect them too.

It's not ok if they suggest I need a hat. (eg as in offered personal loan when current account has 2k in it)

mrcow

willo65 wrote: »

If you have lots of debt accross c/c and o/drafts paying lots of interest then a loan may not be necessary but with reduced interest would reduce monthly outgoings and lower total interest that the customer will pay.
.

I don't disagree.....but at the same time as flogging you your loan, it should be made quite clear what the tie-ins are....and that PPI is not compulsory......and your overdraft facilty should be scrapped then and there, never to return and it should be made clear that the other cards are cancelled and a monthly budget should be drawn up to help to stop such problems recurring. If you were actually interested in the customers long term financial well-being then you'd help them with all of this. But of course in reality it never works like this.

And the bank don't care as they have direct access to the customer's current account so will just take the money as and when they see fit. And then in a year's time when said customer is asking for a meeting because they can't pay their bills.....guess who won't want to know?

And don't say it doens't happen like that as I've had a case where it happened exactly like that. And don't even get me started on misold insurance.....you're the bank for crying out loud......you know the customer's circumstances......why sell them products that they either can't afford or that are completely useless to them? It happens so often. Surely the "advisors" can't be that financially naive? Or are they just unscrupulous?

willo65

withnell wrote: »

That's a good way of looking at it:

If I go to a clothes shop and buy a shirt, then it's ok when they suggest a pair of cufflinks to go with it. They're not going to suggest a different shop to buy them from, and you wouldn't expect them too.

It's not ok if they suggest I need a hat. (eg as in offered personal loan when current account has 2k in it)

Agreed - totally

Extant

withnell wrote: »

It's not ok if they suggest I need a hat. (eg as in offered personal loan when current account has 2k in it)

But you are bald and your shiny head is distracting.

(I actually love your analogy.)

willo65

mrcow wrote: »

I don't disagree.....but at the same time as flogging you your loan, it should be made quite clear what the tie-ins are....and that PPI is not compulsory......and your overdraft facilty should be scrapped then and there, never to return and it should be made clear that the other cards are cancelled and a monthly budget should be drawn up to help to stop such problems recurring. If you were actually interested in the customers long term financial well-being then you'd help them with all of this. But of course in reality it never works like this.

And the bank don't care as they have direct access to the customer's current account so will just take the money as and when they see fit. And then in a year's time when said customer is asking for a meeting because they can't pay their bills.....guess who won't want to know?

And don't say it doens't happen like that as I've had a case where it happened exactly like that. And don't even get me started on misold insurance.....you're the bank for crying out loud......you know the customer's circumstances......why sell them products that they either can't afford or that are completely useless to them? It happens so often. Surely the "advisors" can't be that financially naive? Or are they just unscrupulous?

Natwest don't offer Personal Loan Protection with their loans anymore, you need to look at it seperately. And if the customer is given a loan to clear debts it is normally a condition that they get rid of their o/d with the bank and also suggest that they do all of the above