Nationwide - selling ethincs?

opinions4u

Next we'll be having "bank failed to sell me a better value product even though they could see ripoff competitor premium on my account" complaints going to the FOS.

They can't win.

The examples in this thread are helpful staff trying to improve the financial position of their customer.

Is that really so dreadful?

ses6jwg

opinions4u wrote: »

Next we'll be having "bank failed to sell me a better value product even though they could see ripoff competitor premium on my account" complaints going to the FOS.

They can't win.

The examples in this thread are helpful staff trying to improve the financial position of their customer.

Is that really so dreadful?

Unfortunately there are so many !!!! poor advisers and sharks out there you can't blame people for being sceptical.

In my new branch I spend half of the day closing off unused credit cards that were opened up in 2008 by an adviser who told people that they "came with" every bank account. Then when people genuinely want a credit card for a balance transfer they can't have one because of the "dormant" card already on the system

dalesrider

Dirk_Gently wrote: »

What I found reprehensible was this guy looking at my monthly transactions in order to use the information to try and sell me something.

To me that's misuse of the access he had to that information and it stinks.

If you don't want them to see the information. Then make the payments elsewhere......

They have done nothing wrong.

Now if he was simply pulling random accounts up and looking at details... Then that is a sackable offense.

Yorkie1

jd87 wrote: »

I'd like to live in a world where common sense and reasonable expectations prevail over small print.

Oh please. Who defines 'common sense'? You? Me? The bank? Your grandma? A democracy? A poll on MSE?

How utterly ridiculous.

Of course there have to be T&C. Whether you choose to read them is entirely your choice. Irrespective of whether they are in super large or small font.

chambta

jd87 wrote: »

The point is obviously that the banks are using our personal information in a way that we have not agreed for them to do. When I set up a direct debit from my bank account, I expect the bank to just do their job and ensure that the payments get processed correctly. I don't expect them to make use of this information for their own benefit. It's intrusive. What next? Will they be looking at my debit card payments to Tesco and start telling me I should be shopping at Sainsbury's instead?

I have no problem with hard selling. I understand the bank is there to get money out of me. It's just this use of personal information that seems wrong.

What other information can they use?

jonesMUFCforever

jd87 wrote: »

The point is obviously that the banks are using our personal information in a way that we have not agreed for them to do. When I set up a direct debit from my bank account, I expect the bank to just do their job and ensure that the payments get processed correctly. I don't expect them to make use of this information for their own benefit. It's intrusive. What next? Will they be looking at my debit card payments to Tesco and start telling me I should be shopping at Sainsbury's instead?

I have no problem with hard selling. I understand the bank is there to get money out of me. It's just this use of personal information that seems wrong.

You are in fact correct!
Under Data protection they should only access data on a necessary basis - but until sufficient customers complain nothing will change.

Yorkie1

Under Data Protection they should access it only for the purposes set out in their DP statement.

I very much doubt that cross-selling is banned by the purposes in the DP statement. And as permission will have been given in the initial signing up T&Cs there is nothing wrong with it being used for this purpose.

Gromitt

I got similar during the security part of a telephone conversation. First of all, they said "I see you are paying a mobile phone contract from this account, can you tell me who and how much per month as a security measure?", followed by "OK, Can you name another direct debit on your account?" and finally "Are you aware we provide roadside assistance with our upgraded accounts which start at just £x per month?".

I'd only get mad if they started selling my account details to other companies as marketing material ("This person is paying £x to Y for Z, send him a quote, here is the address"). Thankfully, the DP prevents that.

JacksterD

Surely the unethical thing would be to not try and save their customers money?

If he knew Nationwide could do a better deal but didn't bother offering it to you I'd say that would have been pretty unethical.

Dirk_Gently_2

jd87 wrote: »

The point is obviously that the banks are using our personal information in a way that we have not agreed for them to do. When I set up a direct debit from my bank account, I expect the bank to just do their job and ensure that the payments get processed correctly. I don't expect them to make use of this information for their own benefit. It's intrusive. What next? Will they be looking at my debit card payments to Tesco and start telling me I should be shopping at Sainsbury's instead?

I have no problem with hard selling. I understand the bank is there to get money out of me. It's just this use of personal information that seems wrong.

Thanks. At least someone appreciates the point I'm making, which is that when I'm discussing a loan the salesman should only be looking at the details of my account regarding that loan. he shouldn't be using the detail there for any other reasons, or to gain commercial advantage over any competitors.

And for those saying I might end up better off and I should be thanking Nationwide for trying to help me ... silly naive me for thinking that he was trying to sell something to make him and the Society more money. I hadn't realised they were an altruistic charity doing things like this as a good turn out of the goodness of their heart! :rolleyes:

To me, there's a big difference between someone saying "Would you like us to quote your for car insurance?" and "I can see from your Flexaccount that you pay £59.99 a month to Admiral for your car insurance, would you like us to try and beat that?"