Banks don't want my custom it seems

harlequeen

Hi All

Just a comment about the level of service at banks and building societies lately.

I went to 5 different places this morning with a couple of hundred pounds to open a regular saver wanting to pay in £100 a month, and there was nobody available to open the account for me. All offered me an appointment, which would mean my taking time off to call into the branch.

HSBC wouldn't even give me a savings account if I wasn't a current account holder!

As I wanted to take advantage of better rates than were availalbe online, I need to do it at a branch. I'm bemused by the lack of service and the contempt in which I'm held as a customer.

Lokolo

Do you really think that paying £100 a month is going make the bank roll out a red carpet for you? They have thousands of customers in one area, I very much doubt they really care much for your £100 and the staff costs don't make it worthwhile. Hence the appointment scheme, saves staff sitting around waiting for people like you to pop in every now and again to open an account. Hire less staff, make appointments, accounts/staff member increases.

Not quite sure how a branch account is better than an online one though!

opinions4u

Should they have prioritised you over customers who had prebooked?

It's a tough one. The only answer would be more staff being available, but that's not always easy. Where does the manager magic them up from? I once employed somebody on a Saturday only contract but it wasn't enough hours for her to learn how to do the job properly.

You picked a Saturday, which is likely to be busy after 10am. You picked month end, which adds significantly to footfall. And you were most probably saving a sum that pays little in terms of bonus.

In my bank manager days I always worked on the basis that the branch should bend over backwards to see as many customers as possible. But Saturday mornings were always particularly difficult to get everybody seen there and then.

Loughton_Monkey

harlequeen wrote: »

As I wanted to take advantage of better rates than were availalbe online, I need to do it at a branch. I'm bemused by the lack of service and the contempt in which I'm held as a customer.

Wrong way round, surely?

Never heard of a branch account better than those available online.

ses6jwg

Do you walk into the dentist or the doctor or a solicitors and demand to be seen there and then? I doubt it.

Branches typically employ a lot less staff than they would have 40 years ago, and even if you walk into the branch and it looks well staffed, due to the extra regulation in place most banks now differ between service, administration and sales staff (i.e. those who are regulated/ authorized to open accounts).

Opinions4u has hit the nail on the head.

I work in a very small local branch of one of the UKs biggest banks. We employ 5 staff. The branch manager, the risk and control manager, a part time cashier, a financial adviser, and me, the personal banker.

On a Saturday, 2 members of staff will be working and many weekends there will simply be nobody around who is able to open the account, hence why the appointment system is used. You may not believe it, but bank staff have lives and families too and many of us do take the odd Saturday off to spend time with them.

Another sad fact is, and this true even now of BUILDING SOCIETIES, not just BANKS, is the staff gain very little from opening a regular savings account as opposed to a bank account, investment or large deposit. Although we will always do our best to see customers there and then, the sad fact is that there are certain types of query which are dealt with more urgency than others.

dunstonh

Branches typically employ a lot less staff than they would have 40 years ago

Not just 40 years ago. As little as 15-20. My branch used to have 49 staff in the late 80s. It fell to just over 40 by the mid 90s. Now it has 15. 2 of the floors are empty and one almost is. The banks in the town each used to take on around 2-4 school leavers each year. They havent done for years.

People are getting the banking service that the majority are paying for. i.e. nothing.

Another sad fact is, and this true even now of BUILDING SOCIETIES, not just BANKS, is the staff gain very little from opening a regular savings account as opposed to a bank account, investment or large deposit. Although we will always do our best to see customers there and then, the sad fact is that there are certain types of query which are dealt with more urgency than others.

Not just banks and building societies but all parts of financial services. £100pm just isnt able to show you a profit. You have to be realistic and say that £100 is not a lot of money any more.

The net interest margin is typically around 1.3%. £700 in a bank account over 12 months will earn a bank around £9.10 for that year. I dont know what the cost in opening the accounts is nowadays. It's probably cheaper than it used to be but I wouldnt be surprised to see it costed around £50 for branch based applications.

flexrider

You could of gone into branch wearing a Top hat and Tails holding on to a few notes in your hand Looking like the banker off the monolopy Board game. See if that helps

P.s Just kidding

I Understand your concern but their are other ways to open bank accounts, Internet is the best for it.

marvin

flexrider wrote: »

I Understand your concern but their are other ways to open bank accounts, Internet is the best for it.

Except you would still need to go into a branch and prove your ID under the money laundering legislation.

flexrider

marvin wrote: »

Except you would still need to go into a branch and prove your ID under the money laundering legislation.

Correct But at least you have the appointment booked and someone ready to see you. Instead of Going to branch>Getting no where>make a appointment>go back branch>account open!

noh

marvin wrote: »

Except you would still need to go into a branch and prove your ID under the money laundering legislation.

There is no requirement to visit a branch to prove ID.
I have opened 10s of accounts online and have never been required to visit a branch for that purpose.

marvin

noh wrote: »

There is no requirement to visit a branch to prove ID.
I have opened 10s of accounts online and have never been required to visit a branch for that purpose.

I presume from this you have already had accounts with the banks concerned or you had to provide proof via the post otherwise you have been lucky and have come across banks that like to put themselves at risk.

If you already have a relationship with them they do not require any more proof who you are other than that they have a duty to make sure who they are doing business with.