Don’t bank on them wanting to talk to you
GOOD morning my fiscal friends. I see the banks are telling everyone that more and more customers are using their on-line websites to contact them.
It’s not difficult to work out why.
It’s like burning all the bread and saying more and more people are eating toast.
Do you remember, back in the late 70s when banks were fighting each other to be the most customer friendly retailer on the high street?
It was a crazy time where some towns had several local branches often under different names.
The aim was to bring banks closer to their customers. Each bank had its own manager.
I opened my first ever account with the District Bank in Bollington and the manger helped me enormously.
I was a clueless young kid and I stayed with them for years until my branch closed down.
When the manager was not available his assistant was and banks fought each other to prove who gave the best customer service.
Suddenly, the World Wide Web appeared invented by Sir Timothy John Berners-Lee a Brit who, far from making Billions for himself and Mrs Lee, gave his invention to the world for free when he could have cashed in and paid for the upkeep of the NHS forever.
While important august organisations were loath to distribute private documents online the banks were firing out statements like confetti at a celebrity wedding.
Closely followed by redundant bank managers.
This reduction in staff created enormous profits which the banks quickly transformed into enormous bonuses to be shared amongst themselves.
Banks no longer needed branch managers (or HighStreet customers) choosing instead to focus on ‘dealers’ who made huge profits over-night.
After years of hedonistic debauchery, the whole banking system crashed with the ferocity of an Elon Musk rocket and guess who the banks turned to for salvation? (I’ll give you a clue it wasn’t Tesla)
Suddenly, the banks loved plumbers and teachers and council workers.
Everyone was welcome to deposit money into their kitty to prevent the collapse of the entire rotten banking system.
For a brief period the banks loved us and couldn’t get too much of us. At every bank in the country customers were king.
Well guess where we stand now in their priority list? They can’t even be bothered talking to us on the phone.
‘Even the Live Chat’ line isn’t live and will only answer its own questions.
I would not like to estimate how many hours I’ve spent trying to talk to someone at my bank remotely interested in my financial well-being. (Things have to be pretty bad when even the automatic robot will only answer her own questions.)
Sadly, that is the truth.
So, if you can find a banker that genuinely wants to talk to you, guard him/her with your life.
Send presents on their birthday and invite them around for Christmas dinner.
Most importantly do not share their contact details with anyone lest you be swept away in the rush to find a bank that actually gives a damn.