In Branch vs Telephone + Internet Loans

jonesMUFCforever

PeeWee wrote:

What an absolute load of bollox. When you say he gets "no credit" for helping people, are you saying that for that month he gets no salary? is he working on commision only??? No I dont think so!! he gets paid a salary for doing his job.

Boo Hoo if he doesnt meet his target and earns a bonus, he is paid for doing his job and I cant belive you are trying to defend his attitude.

he might not get his bonus for helping the "online" customer, but its these customers that are paying his basic monthly salary anyway!!!

:mad: :mad: :mad:

Pee Wee
You obviously have no idea how modern day banking works do you?
Yes in a perfect world we would all help each other for no gain but in the banking world of today sales targets are everything.
From your humble cashier to the top management everyone has a target to achieve.
If you choose the internet or telephone channel to do business that's fine as long as you use their helpdesks to clear problems not clog up the branches.

Laurenbelle

Did you know that the contact centres work on targets and bonus' too?

Astaroth

Given the increased amount of channel differentiation rather than flat discounts I will use which ever medium gives me the best deal... when I took my last credit card out the telephone and branch were capping balance transfere fees where as the internet wasnt.... however the branch had higher interest rates than the phone so... made the application over the phone.

Given that the majority of branch staff are little more than sales men these days with actually no authority to "over rule" what the computer/ specialist departments say I dont see any advantage for me going into a branch and having to wait for someone to see me when I can do it online instantaneously

WSO

We recently went for a consolidation loan with our local branch of HSBC - usually we use online banking but I saw the 25% interest repayment offer in branch when I went to pay in a cheque one day...

Online there was no obivious information about the offer on the pages we visit. The brouchure gave an internet address that regurgutated the info in the leaflet and advised us to log in for a personalised quote. No where in the quotes we got online did we see mention of the 25% interest repayment... so we made an appointment to see someone in the branch.

In the branch we noticed that some of our details were wrong so corrected them while we were at it... the result is that the personalise loan offer that was advertised when we logged in (which didn't mention the cachback) and the letter that followed our enquiry (which did) was nullified by our change in circumstance (OH changed job and salary details, and not for the best).

So with the new details in we were offered 10.9% to start with and we flat out refused that since it wasn't any better than the loans we had... knowing now what goes on with sales tactics, it doesn't suprise me that he manually set the APR in to the one we were previously offered... but there was no mention of the cashback offer in the paperwork. When we asked him about it he said it would be credited automatically - but I said we would be keeping the letter and brochures detailing the offer term etc should we need to chase it...

Upshot was we came out with £11,800 - without having to show evidence of anything other than what he had access to (2 mortgages, 2 current accounts but only evidence of one wage being paid)...

In our recent experience we were better off going via the branch, but only did so because the offer was not confirmed as being applied online...

regularsaver1

i doubt branches can manually set APR

Wish they could

WSO

Well we were quoted 10.9% after profile adjustments and he put it back down to 6.5% manually because it was on his profile print out we were offered this previously - he could have typed any number in that box on the screen although it is doubtful it would have worked if he put a 0 in it.

Doubt we would have got 6.5% online after updating all our details without any manual intervention...

Branches can and do manually override rates that are offered in the application process, guess it just depends who you get and if you've had any previous offers they want to honour...

regularsaver1

I work in a branch and can not influence the rate (I work in mortgages) but know the advisors can not

but maybe it depends on bank

chani1

in my experience i actually work as a loan advisor on the phone! it is better to do it this way because if you apply by internet it takes 2 days longer to process also if you put a slight mistake a missing digit on something or whatever it may automaticly decline you. I feel if you do it over the phone it doesn't take too long you can get good advice for your needs but for god sake do not let them talk you into taking loan protect-rip off. Im not sure what the benefits are of going into branch.

jonesMUFCforever

chani1 wrote:

in my experience i actually work as a loan advisor on the phone! it is better to do it this way because if you apply by internet it takes 2 days longer to process also if you put a slight mistake a missing digit on something or whatever it may automaticly decline you. I feel if you do it over the phone it doesn't take too long you can get good advice for your needs but for god sake do not let them talk you into taking loan protect-rip off. Im not sure what the benefits are of going into branch.

On the internet you can actually see what you type in - on the telephone you have to accept that telephone adviser has inputted details correctly - how can telephone be better in this case?
Bank I work for will put in funds to your account immediately you 'electronically' sign the CCA (Please don't ask what this entails as I don't know) the same as if you had signed it in branch.

regularsaver1

chani1 - you say you are a loan adviser and you say ppi is a rip-off - don't you have to sell it?

bank i work for, if you do loan on phone the only opeion now is by courier which costs £50. customers used to be able to go into branch after ans sign docs. if done in branch funds can be released immediately