Pushy sales people in bank

p00hsticks

triticale wrote: »

I have been with first direct for about 7 years now, never been approached by any staff, I read their available offers online when logging into online banking and make my own decisions on products and services in my own time.

This is the way forward in my opinion, surprised other banks haven't followed their lead - unless they are subsidised by HSBC or something, and wouldn't be viable as a standalone bank?

Anyone have any info/views on this?

Not sure what you mean by 'surprised other banks haven't followed their lead' - in my experience most banks have well developed on-line and telephone banking, and generally are trying to reduce the number of branches (where local opinion permits).

As well as an account with FD, I also bank with Nat West and Nationwide, and I've been into a branch no more than twice in the last ten years (once to pick up some foreign currency ordered on the phone, and once to deposit a US$ cheque). I can pay in cheques via Nationwide ATMs and handle all other banking online.

chesky

I'm with Lloyds. From time to time I use my current account as a stop along the way when shifting monies from savings accounts to ISAs etc. When I do and have a large amount in the account and am in the bank for some other reason, I do get asked by counter staff if I wish to review my account. I've always assumed this to be code for 'can you put this money into one of our lousy-interest savings schemes?' so I've always politely declined their assistance.

I am an OAP but, as I'm also pretty compos mentis I think it's the money that interests them, not my age. I would find it pretty insulting for anyone to assume that it's the oldies that are more likely to be money-ignorant, given the fact that mot of the people with debt probems I see in my role as a CAB adviser, are well under retirement age. I don't expect they are asked to review their accounts simply because there isn't enough in them for the bank to be interested.

triticale

p00hsticks wrote: »

Not sure what you mean by 'surprised other banks haven't followed their lead' - in my experience most banks have well developed on-line and telephone banking, and generally are trying to reduce the number of branches (where local opinion permits).

I didn't really explain properly - what I mean is the concept of banking being done predominantly online - and online in the simplest way (i.e. none of these home keypad devices etc that I've heard of with other banks - although I admit my knowledge may well be out of date!). Other banks still seem quite branch focused, despite reducing them in number.

Obviously there will always be a need for physical branches, but I guess my point was that I have not been contacted by my bank - in any way - for years, and rarely need to contact them other than using the available functions within online banking.

This has been so much easier and more pleasant than the (long gone!) days of walking into a smalltown local branch of NatWest and being harangued to sign up for every financial product under the sun, or getting regular phone calls from them with loan offers which are the memories the OP evoked for me. I guess I just didn't realise this still went on in this day and age! :eek:

[Deleted User]

I get this in Cash Generator/Converter too.

I was in there the other day, looking at their rows of used DVDs, when one of their staff came over and said "Can I help"?

How is he going to help me choose a DVD :huh:

ALIBOBSY

Sadly on these forums there are a small number who assume the following
1) Banks are always right, never bend the law to suit them and can do no wrong
2) Everyone in the world is intelligent and financially savvy and if you are not you must be stupid so tough

The reality is the banks are a business and like most current big businesses they are not satisfied with making a reasonable profit while acting in a moral and fair manner. Like the others they are out to screw every last penny from everyone in the country, bend the laws (including tax legislation) to fit them. They have no morals whatsoever and the whole thing is an obsession with obtaining wealth-pandered to by sucessive governments. All this has led us to the situation the economy now is in.

The reality is that many OAP's whilst not stupid in any way still have this idea that banks and big companies actually give a damn about them, and they hold people at banks in the same level of authority as they see police doctors etc. They have a respect for these people and trust them completely to advise them, little suspecting these people are NOT advisors they are salepeople only.

My in laws are like this, they trust when a customer service rep tells them something that its true and that's it. They are not stupid by any means its more naivety and a lack of sceptisism. They won't trust online banking, but the "bank manager" is a lovely man who always sorts stuff out for them-not that we believe they ever see the real branch manager I bet its a customer service manager.

I also know a friend of my sister who worked on the other side so to speak on the counter at a local bank. They had a manager who was obsessed with pushing sales and tried to insist on them asking every customer if they needed a loan or credit card-especially if they had a decent savings balance.

One older gent who came in on a regular basis to deposit she knew was retired, had his own house and was well off so no need for anything (we live in a semi rural village on the edge of a small town so most people are known to each other lol). After the boss pushed her she asked once and as expected the gent laughed and said I won't need anything like that, don't like debts anyway and just live off my pension now love. So the next time he came in she didn't ask and the boss had a go at her, even when she explainned he wouldn't have it-well he might have changed his mind.

Next time he came in she was embarrassed and hoped the boss didn't see her not asking again, the boss shot across and with a nasty scowl at her accosted the gent and tried his best slimy saleman act on the guy to get a massive dressing down in front of the whole place :T.

This wasn't that long ago so there are some managers at some branches and I am sure some over enthusiastic sales staff who are being too aggressive.

Ali x

miduck

ALIBOBSY wrote: »

The reality is that many OAP's whilst not stupid in any way still have this idea that banks and big companies actually give a damn about them, and they hold people at banks in the same level of authority as they see police doctors etc. They have a respect for these people and trust them completely to advise them, little suspecting these people are NOT advisors they are salepeople only.

My in laws are like this, they trust when a customer service rep tells them something that its true and that's it. They are not stupid by any means its more naivety and a lack of sceptisism. They won't trust online banking, but the "bank manager" is a lovely man who always sorts stuff out for them-not that we believe they ever see the real branch manager I bet its a customer service manager.

Generalising much?

ALIBOBSY

miduck wrote: »

Generalising much?

Whilst many OAP's as illustrated by the many people on here, have no issues sorting things like finances, there are a number. Many of whom are not very internet literate and who are not likely to be on here. I never said all pensioners. But having worked with pensioners in the past and having older relatives I can see a world of difference in the 2. EG my father and mother do all their finances online, have moved electric/gas suppliers many times and are extremely financially savvy. My in laws-same age, both intelligent and simular backgrounds still pay bills in the bank with cheques refuse to change utility suppliers still with the original electric "board" as they call it and BG and as I said are very trusting.

TBH if there weren't a fair number had this kind of mindset programs like rip off britain and that type would have alot less customers. Being trusting or naive does not equate with IQ or suggest you are stupid. But its the same kind of attuitude that goes along with not complaining and just "letting things go". I suspect its a hangover from earlier things like the war and rationings where it was seen (rightly) as a duty to just get on with things without complaint and to see authority figures as absolute. Its the reason why many con artists dress as authority figures-vicars/policemen etc and also the reason they target older people.

Ali x

PS to repeat NOT ALL older people are like this, just like NOT ALL younger and middle aged ones are completely savvy.

AndrewBlack

I think it is safe to say that banks have lost a great deal of trust which is why so many people are now moving their financial needs whether it is mortgages, bridging loans or otherwise; to a professional broker service. I have done the same myself and feel in far better and more trusted hands

opinions4u

AndrewBlack wrote: »

I think it is safe to say that banks have lost a great deal of trust which is why so many people are now moving their financial needs whether it is mortgages, bridging loans or otherwise; to a professional broker service. I have done the same myself and feel in far better and more trusted hands

Really? Any numbers to back that up?

Tiny fraction of a per cent at best I'd guess.

Do you work for Marsh brokers by any chance?

27col

The OAP's who are having trouble understanding what they are getting into when they go to the bank, are the same people who have trouble with finance when they are younger. They come on here bleating about how they must have something, or have got into trouble with their payday loans or some such. Luckily the majority of us, both young and old have a bit more financial acumen. It's nothing to do with age, just a general lack of common sense and financial nous, and applies to all ages. As someone has already said, just because we are older, most of us have not yet become old age idiots. I for one resent the implication that we are.