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why do so many people...
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The best one is when we get into work in the morning and find about 5 missed calls from between 6pm and 8pm.... I think customers think that we must live in the branch.
But again that's just an issue of the customers not knowing the ins and outs of how that bank works ... e.g. if I phone the direct number for a Halifax branch at any time of day, I'll get through to someone (it redirects to a call centre out of hours or if the branch is busy and doesn't pick up in time).
I might quite reasonably expect your bank to do the same.0 -
But again that's just an issue of the customers not knowing the ins and outs of how that bank works ... e.g. if I phone the direct number for a Halifax branch at any time of day, I'll get through to someone (it redirects to a call centre out of hours or if the branch is busy and doesn't pick up in time).
I might quite reasonably expect your bank to do the same.
You are correct, most of it is misunderstanding.
Some of it is sheer stupidity, laziness and ignorance.
We get a minority of customers who, simply because they "don't like call centres" (lets face it, none of us do but they are a neccessary evil in the modern age) and insist on calling the branch number expecting to be able to close accounts, order cheque books, order new pins, report cards lost. We are a small local branch with 4 members of staff, and spend most of the day dealing with customers. I have picked up the phone sometimes and had a torrent of abuse from a customer because we didn't pick up after the customer had spent 2 minutes calling relentlessly and we could not pick up as we were dealing with customers "face to face". Then when we redirect them to the call centres or ask them to visit the branch they get abusive.
Some customers treat the branch as their special "relationship manager" expected to be at their beck and call and inform them every time a rate drops, increases, in short, to wipe their proverbial backsides for them.
There is delivering customer service, then there is customers taking liberties.0 -
Perhaps they remember when banks were like that? Before "relationship managers" were invented and when someone called a "manager" in a bank wasn't just another salesman.Some customers treat the branch as their special "relationship manager" expected to be at their beck and call and inform them every time a rate drops, increases, in short, to wipe their proverbial backsides for them.0 -
The ISA rates are so bad it makes no sense to put it in earlier. The other people will be those who have limited funds and have been saving throughout the year. Not sure its a cheek when they are refused.
I'm confused by this? If the rates are bad why bother with an ISA at all? If you're going to put the money in an ISA surely it makes no difference when you do so. If you are saving throughout the year surely you open the ISA at the start of the year to add funds all the way through?
Its not just cash ISAs though, share ISA companies are opening late this week with some up to midnight on 5th but that might just be good marketing to highlight to everyone. If they can do so and allow online applications I don't know why the same can't be done for cash ISAs?Remember the saying: if it looks too good to be true it almost certainly is.0 -
I'm confused by this? If the rates are bad why bother with an ISA at all? If you're going to put the money in an ISA surely it makes no difference when you do so. If you are saving throughout the year surely you open the ISA at the start of the year to add funds all the way through?
Because banks etc introduce new/good ISA accounts only at certain times of the year - mostly just before the end of the financial year and then again shortly after the start of the next financial year - with good rates to attract customers....then they close them to any further customers.
So if you want to put money in an ISA mid way though the year you will find that the banks don't have any "good" offers available.
The net effect is that customers are forced to either apply at the very start of the year - or if they have 'missed the boat' wait till the very end of the year.....which of course leads back to how this thread started about people leaving it to the very end of the year!0 -
ChiefGrasscutter wrote: »Because banks etc introduce new/good ISA accounts only at certain times of the year - mostly just before the end of the financial year and then again shortly after the start of the next financial year - with good rates to attract customers....then they close them to any further customers.
So if you want to put money in an ISA mid way though the year you will find that the banks don't have any "good" offers available.
Not sure that I agree here.
Whilst some providers (namely Barclays and Santander) tend to operate in this way, there are still lots of other providers (typically Halifax & Nationwide, but there are generally a handful of small building societies as well) offering decent rates throughout the year.
Halifax's 2.8% ISA Direct Reward (which has been on that rate since September, so hardly peak ISA season) has been giving a rate higher than the net rate on most (all?) instant access non-ISA savings accounts for that whole time.0 -
Because the yearly contribution limit is relatively low, and once in an ISA the money earns tax-free interest in perpetuity, including when rates pick up in future years.I'm confused by this? If the rates are bad why bother with an ISA at all?
Even if cash ISAs only paid 1% now, I'd still fully fund them on the basis that in a few years rates are more likely to be 5-7%, and I'd rather have £20k in the account then than £5k.
But if this were the case, I'd want to keep my money in the best instant-access savings account throughout the year, and pay it into the ISA as late as possible. In this way I would lose the least amount of interest to the difference in rates, while still using my full allowance.
If you contribute a fair bit less than the limit each year, or you expect ISA rates to stay uncompetative for ages, trhis argument wouldn't apply. Otherwise, this approach will give the best medium-long term yield for instant-access cash investments.0 -
Absolutely agree with the last poster.....ok the rates are low now, but the money you put in (together with your past deposits) will be sitting there waiting for the good times to return.
Lets say you didn't put anything into an ISA for the next 2 years, that means your total taxfree pot would be down £10,680....which you can never recoup, and by that time who knows £10,680 together with your exsisting pot would be there to make the most of the highter rates.
JUST DO IT!0 -
The ISA rates are so bad it makes no sense to put it in earlier.If you're going to put the money in an ISA surely it makes no difference when you do so.
Personally I think its more beneficial for those that can pay the maximum cash ISA allowance into their cash ISA's at the start of the tax year (providing they wont need to withdraw it).
That way you start earning interest on the money earlier in the year and get to squeeze a few more quid into your ISA sheltered away from the tax man.
Every little helps
Never let the perfume of the premium overpower the odour of the risk0 -
money_maker wrote: »Leave their Isa allowance to the last few days of the tax year? Working at the bank on saturday morning and no joke, around 30 customers pile in during the 3 hours we are open trying to open ISA's.
They then have the cheek to get assey when they are refused as there are not enough staff to see all customers that day.
lol makes me laugh.
The majority of people are idle. Haven't you noticed that?
When do most of the ISA adverts come out on telly? Feb and Mar.
When does every money journalist crawl out of the woodwork and regurgitate the usual crap of 'use your ISA allowance before it's too late. Shop around.....'
That's why.
A bit like Christmas Shopping. Why do people leave it until a couple of days before? Same idleness really. The only difference is that retailers remember that this happens, and so staff up accordingly.
Banks forget. Every year.0
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