Banks don't want my custom it seems

Naf

smartiedriver wrote: »

Oldagetraveller.... have you never heard of holidays!!!!!!

And 6 day opening?
And lunch breaks?
Part time staff?

Naf

Rollinghome wrote: »

Sorry, I get a tad irritated with bank clerks, financial advisers etc. with minimal qualifications bizarrely comparing themselves with highly qualified professionals such as doctors. Even a humble GP is likely to have done a 4-7 year degree, 2 foundation years, followed by 3 years vocational training.

Retail bank staff and financial advisers could more accurately be compared with travel agent staff and others in the retail sector who most certainly can be seen without appointment. When the minimum qualification for IFAs is raised in 2013 it will still be well below degree level.

We're not comparing ourselves to degree-qualified professionals, but the system of booking an appointment works just the same way. Even a solicitor will see you without appointment if they are free to do so, but nobody can see you if nobody is free; its that simple. If there wasn't an appointment system we'd be having an argument about not being able to book an appointment instead.
As I said if you, as customers, can't get it straight in your heads what you want the banks to (reasonably) do, how on earth will they ever be able to.

Credit-Crunched

Naf wrote: »

We're not comparing ourselves to degree-qualified professionals, but the system of booking an appointment works just the same way. Even a solicitor will see you without appointment if they are free to do so, but nobody can see you if nobody is free; its that simple. If there wasn't an appointment system we'd be having an argument about not being able to book an appointment instead.
As I said if you, as customers, can't get it straight in your heads what you want the banks to (reasonably) do, how on earth will they ever be able to.

Comparing us to a estate agent who have to sit no exams is mildly insulting. The RDR qualification, although not degree level still requires a reasonable level of intelligence and aptitude. Taxation and pensions are a huge area to understand and do require knowledge. Comparing an IFA to a bank clark is like comparing a GP to a secretary!

Yes not the level of qualifications as a gp /solicitor, however i had less regulation as a civil engineer than i do as an IFA

Rollinghome

opinions4u wrote: »

Which retailers would you currently call "successful"? Tesco, Asda, M&S? I think most of the high street banks have retail arms that are more profitable (and remained profitable through the credit crunch).

I haven't looked to see how Tesco, Asda (Walmart) and M&S compare for profitability but I'm appreciative that none of them tapped the taxpayer to be bailed out. I think John Lewis would be a better role model, a business that both enjoys extra-ordinary customer trust and operates profitably.

opinions4u wrote: »

Instead of looking to recruit the typical "A" level candidates who chose not to go to university, they started to recruit shop staff. The starting salary was frozen for an extended period.

It was all about cost. Not quality.

There was a time in the dark ages when mere A levels weren't enough. It was a requirement that staff should be from public or grammar schools.

I hope most people would be glad to see the back of that kind of snootiness. But unfortunately it seems that some staff still see a requirement for snootiness towards their customers even when they're barely qualified for a job in Woolworths themselves. (Or is it the £ shop now).

Retail banking has changed beyond recognition from the days when only the middle-classes were customers who were expected to pay for a current account but were granted that privilege only if they could provide the right references.

The banks, and their staff, still seem unable to come to terms with their new mass market role. There’s still far too much arrogance and they’ve yet to grasp that in retail the customers have a choice and are there to be pleased.

Rollinghome

Naf wrote: »

As I said if you, as customers, can't get it straight in your heads what you want the banks to (reasonably) do, how on earth will they ever be able to.

I’m afraid it’s for the banks to learn how to run their own businesses, it’s not our job to tell them, unless of course they want to employ me as a consultant.

When a bank manager at one of the former building societies demanded that I make an appointment it was clear it was not for my convenience, it was for hers.

The bank had messed up my account with a large sum disappearing without explanation. I telephoned and was put through to a call centre. There they told me it needed to be dealt with by the branch and gave me the branch number to ring. Every time I called over two days the phone rang for several minutes before diverting… back to the call centre.

When I went into the branch, not a journey I particularly wanted, there was only one other customer there with around six or more staff. They claimed they only diverted calls when busy which was clearly untrue and the manager had the cheek to ask me to come back the next day. She was obviously surprised with the response she got which suggests she expected to get away with that sort of behaviour.

The money had for some reason turned up in their lost money account at a centre somewhere in Kent and I accepted £100 compensation for my time.

Rollinghome

Credit-Crunched wrote: »

Yes not the level of qualifications as a gp /solicitor, however i had less regulation as a civil engineer than i do as an IFA

And of course the reason why so much regulation has been introduced over the years is because the mainly ex-salesmen who enter the trade can't be trusted without it.

There wouldn't be regulation if it hadn't been shown to be necessary. There have been far more instances of customers being ripped of by financial advisers of various kinds than of bridges falling down. Which is why the FSA are now insisting on the ending of sales commisson paid by the product providers to persons supposedly giving 'independent advice'.

pendulum

When I needed to open a basic current account with a debit card (no overdraft facility required) I thought it would be no problem. I did it online with Natwest. After at least 2 weeks I'd still heard nothing. I tried with Abbey. Again another couple of weeks went by and I hadn't heard from either of them. I kind of needed it by this point, so I applied to Co-Op and one other, which I can't remember. The Co-Op sent me my card through in about a week and everything was fine. The rest took ages to finally send me the cards through. Obviously I stuck with Co-Op. I thought it strange that they spend loads of money on advertising to entice new customers and then keep them waiting so long (so long that they can get frustrated with the wait and go elsewhere).

Credit-Crunched

Rollinghome wrote: »

And of course the reason why so much regulation has been introduced over the years is because the mainly ex-salesmen who enter the trade can't be trusted without it.

There wouldn't be regulation if it hadn't been shown to be necessary. There have been far more instances of customers being ripped of by financial advisers of various kinds than of bridges falling down. Which is why the FSA are now insisting on the ending of sales commisson paid by the product providers to persons supposedly giving 'independent advice'.

I agree, I for one am glad at the RDR, it will weed out the ex car sales men type and leave the people who want to learn about the area. Few years too late if you ask me!

Rollinghome

Credit-Crunched wrote: »

I agree, I for one am glad at the RDR, it will weed out the ex car sales men type and leave the people who want to learn about the area. Few years too late if you ask me!

I really hope you're right. It's clear from this board that a lot of people need decent financial advice but bad advice, including advice driven by the intention of maximising commission, is worse than no advice at all.

xx_Law_Grad_xx

dunstonh wrote: »

I have had examples of banks bounce cheques made payable to investment companies using false reasons just to get the person to come in and then find that its a sales interview.

My mother went into her bank the other day to transfer a large sum of money.

The person dealing with her asked her what it was for and then proceeded to tell her how her choice of investments was a bad idea and that they have some products which would be ideal for her.

They then tried to arrange for her to have a meeting with one of their "advisors".

I am not really sure how they can determine what constitutes a bad investment without having fully assessed her needs as a product which pays out yearly, which they were offering, would not be of any use to her.