We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lloyds just get worse with the hard sell
Comments
-
I think we all agree that banks should be allowed to sell products. The replies from the banking sector on this forum are very encouraging in that all appear genuinely motivated to give the customer a good service. I would happily discuss my affairs as you sound trustworthy. And it is trust that is crucial here. Whenever I walk into Lloyds, I know I am going to be badgered into doing something I don't want to do. Quite simply, I don't trust them to give me best service when it comes to selling their products. I wish Lloyds would change their aggressive sales strategy, so I could be comfortable discussing my affairs with them.0
-
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?
You are still missing the point I'm afraid, it is a banks business to provide a banking service, if they wish to flog stuff, fine, advertise on the TV etc. like other business's do.
It is the customers responsiblity to look after their own finances, not the banks.0 -
You are still missing the point I'm afraid, it is a banks business to provide a banking service, if they wish to flog stuff, fine, advertise on the TV etc. like other business's do.
It is the customers responsiblity to look after their own finances, not the banks.
But not all customers can. The bank should be able to offer help and advice - in the past people would have probably asked for help a lot more than they do now0 -
I think we all agree that banks should be allowed to sell products. The replies from the banking sector on this forum are very encouraging in that all appear genuinely motivated to give the customer a good service. I would happily discuss my affairs as you sound trustworthy. And it is trust that is crucial here. Whenever I walk into Lloyds, I know I am going to be badgered into doing something I don't want to do. Quite simply, I don't trust them to give me best service when it comes to selling their products. I wish Lloyds would change their aggressive sales strategy, so I could be comfortable discussing my affairs with them.
this sounds like a good resolution to the whole debate0 -
BarclaysManager wrote: »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.
So you see the banks as a big Nanny and that's OK?
You are not IFA's, so you cannot offer unbiased product.
If you really had the customers interest at heart, would you tell them that they can get a better deal elsewhere?.
NO .. of course not.0 -
So you see the banks as a big Nanny and that's OK?
You are not IFA's, so you cannot offer unbiased product.
If you really had the customers interest at heart, would you tell them that they can get a better deal elsewhere?.
NO .. of course not.
I think you are still missing the point that I am making,
The customer may be doing something (ie leaving large sums of money in current account) although the bank will not offer you the best deal on the market they will offer a savings account with them and this is more benficial to said customer than leaving in current account.0 -
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
I couldn't comment on Natwest - I wouldn't go with them anyway for a loan because at 16.9% apr on a simple £3000 loan I'd be an absolute fool to even consider them. I'm glad to hear that they don't sell packaged PPI (and charge copious amounts of interest on the premiums) anymore however. At least it's a step in the right direction."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
So you see the banks as a big Nanny and that's OK?
You are not IFA's, so you cannot offer unbiased product.
If you really had the customers interest at heart, would you tell them that they can get a better deal elsewhere?.
NO .. of course not.
Also natwest is now offering a new service (Moneysense) Which is effectively a review but the adviser is not aloud to discuss any natwest product and can only give basic advice, like opening a savings account somewhere, or consolidating debt with a loan from somewhere, cancel mobile phone insurance if you already have a packaged account, shopping arounder for better deals on electric and gas etc.0 -
Also natwest is now offering a new service (Moneysense) Which is effectively a review but the adviser is not aloud to discuss any natwest product and can only give basic advice, like opening a savings account somewhere, or consolidating debt with a loan from somewhere, cancel mobile phone insurance if you already have a packaged account, shopping arounder for better deals on electric and gas etc.
Yes I am aware of that, apparently they were all given the benefit of a whole 8 hours training each.:rolleyes:0 -
Customers need to take responsibility for their actions.. its not that difficult!
Companies also need to take responsibilty for their actions too.
A lot of customers are simply not savvy enough to know when they are being fed a complete line. To take advantage of someone else's financial ignorance is one thing.....but to do it in the guise of "helping them out" is just plain sly.
I'll go back to my Barclays example. My mother was transferred to an upgraded account without even being asked. And when she complained, Barclays didn't want to know......until she kicked up a stink that is. Funny how when she offered to go to the FSA they all of a sudden gave her all her money back plus £200 by ways of an apology. A company like Barclays knows better than to behave like that."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards