MSE

[Corso_Pete]

Short answer, No. I do not have the time for the long version.

 

[Chip and Chase]

And on the battery topic, this'll explain a bit.

"The advertising campaign portraying two electronic toys being powered by competing battery companies is the topic of ongoing litigation. One battery company's early advertisements did not compare their batteries to another competitor’s product, instead, they claimed that their batteries "lasted up to 4 times longer". Those advertisements were held to have been misleading and deceptive because they did not adequately identify which products were being compared to their own product. As a result consumers were not able to adequately assess the battery company's claim.

In recent times this battery company has changed their advertisements to ensure that they clearly identify their batteries along with their closest competitor. As the products being compared are now adequately identified, and the claims not misleading, the revised advertisements are held to have complied with the Trade Practices Act."

 

[Matabele]

Did anyone say "toothless tiger"?

 

[Ryan]

Congratulatiions Ryan, if you word is true to your actions then you truly do your business in a most professional way. That is just not the case in the world I work in., and from most of the responses here it seems plenty of us work in a far more unfriendlier atmosphere than you do.

Now if only I could get my bank to fully explain their fee structure, why they deem it neccessary to increase them and introduce new ones with what seems like monotounous regularity and do that on just one page instead of a PDS that goes on in print so small that surely no normal person could read them comfortably then your industry will live up to your own personal high standards.

ps: This is not meant as sarcasm towards you but a general dislike of the banking industry and the way they treat customers, particulary in relation to fees, commissions and other crap that they seem to be able to charge you without really ever explaining it in any other way but to just increase their revenue. As a banker you may be able to advise us all of much the banking industry now collect in \"fees\" as opposed to say 10 years ago and how have those fees have increased their level of service to to us customers?

I'll divulge a little about my job at The National to hope this sheds some light mate (even though it leaves me open to criticism later). (My goal is to change perception if only just a little) My role is to look after and retain around 800 to 1000 customers on my portfolio. It's all about retention - not sales (these naturally come if you are giving quality service). To give you an example of this, if I come across one of my clients accounts, and I can see that they are not getting the best return on their money (lending or deposit), I will proactively phone them, to suggest better alternatives. I feel that I work in partnership with my clients to assist them in creating wealth and achieving their financial goals. Without my customers - I have no job. I get zero commission. ZERO. I judge myself on the satisfaction survey carried out by an independant agency from my clients - of which I do very, very well.
I would never look at a loan and just say no. Again, I work in partnership with the client to assist them achieve their financial goals, so I will detail a number of alternatives to assist in achieving that goal.
The Bank is a business as well though, and it HAS to make a profit. Would you want to Bank with a Bank that made a loss? There is of coarse is inflation rate, pay rises and the like. The Bank doesn't come up with this income for these purposes out of thin air. It supplies quality service, for a cost. If you feel that you are being over charged - your just not getting the service you require.
I don't have one client that complains about fees they pay, because they know I work in their interest.
I have had a few customers say to me on the phone, "why are you saying this to me about saving all this time and money, you are a Bank right?". That gives me the ultimate pleasure commercially wise. I receive referrals from these people for their family and friends. That is the biggest compliment one can get.
I have received 1 litre bottles of Burbon from my clients for Christmas. I somehow don't think they feel they are being charged too much.

It's all about value add.

We're not all that bad Corso. If you harbour resentment toward the Bank you are with, I suggest you look elsewhere for the service peice you deserve. You can get my number through 132265

 

[Ryan]

And on the battery topic, this'll explain a bit.

\"The advertising campaign portraying two electronic toys being powered by competing battery companies is the topic of ongoing litigation. One battery company's early advertisements did not compare their batteries to another competitor’s product, instead, they claimed that their batteries \"lasted up to 4 times longer\". Those advertisements were held to have been misleading and deceptive because they did not adequately identify which products were being compared to their own product. As a result consumers were not able to adequately assess the battery company's claim.

In recent times this battery company has changed their advertisements to ensure that they clearly identify their batteries along with their closest competitor. As the products being compared are now adequately identified, and the claims not misleading, the revised advertisements are held to have complied with the Trade Practices Act.\"

Thank you - completely backs up my statements...

 

[kiwigirl]

This surprises me Ryan .... are you allowed to accept gifts from customers? In ten years of banking (2 different banks), staff were never allowed to accept gifts from customers, after all we were just doing our jobs.

 

[Ryan]

We obviously can't accept gifts for doing loans etc...conflict of interest.

But Christams gifts - HELL YEAH !!!
If a customer wants to show appreciation, we can't stop them.

That's a bit harsh if your clients can't get you a Christmas gift Kiwigirl !!!

I'm a Relationship Banker in Premium Banking Remember. I'm not a Personal Loan Clerk.

 

[Garts]

whats Premium Banking Ryan?

 

[ManlyBacker]

You have a great job Ryan and I am glad that one bank has a go. I know a hell of a lot about finance & have been involved with high level wealth management and the efforts of my bank (not NAB) have been abysmal - in their expertise, customer relations and everything else. So poor we sacked the "service" (and I am laughing pretty hard on that one) they offered.

I hear where Corso is coming from as every fee increase is prefixed with a letter starting "we have listened to our customers and have introduced the following improved service...." Deadset jokes and not worthy of our money.

 

[kiwigirl]

Thats good then. We couldn't accept anything personal from customers, but if they wanted to give a gift, say bottle of wine or chocolates, then it had to be for all staff to share. I wasn't a PL Clerk either .... not that that has anything to do with it ... I was still an employee, until the bastards made me redundant due to yet another re-structure!!! ... but...that's another story!

 

[kiwigirl]

Oh ... and as for bank fees!!! .... don't even start me on that one. It's usually followed by ... XXXX bank would like to announce it's profit for the year of ??? millon dollars ...... it gives me the ****s!!

 

[Garts]

Funny thing is Ryan was the first one to post on the site having a dig at the $2 increase in GA tickets this season. Funny coming from a Banker :lol: :lol: That was not justified but a increase in bank fees is as a bank needs to make a profit.

Dont take it personally Ryan, I just thought of it and found it quite funny.

 

[Fluffy]

Christmas is all about getting free bottles of booze as gifts. Im lucky that i choose where my company spends a fair bit of its money and thus get some nice prezzies around this time of year.

 

[Ryan]

Garts - A Premium Banker has customers that have to meet certain criteria (income & lending amounts) i.e. I wouldn't look after someone with anything less than $300k in lending, or they would need to potentially have a very healthy income.

In regard to the fees, and how The Banks increase them all the time:-

You would all be surprised how little income is generated from fee income. EVERY transaction obviously has a cost, so this automatically comes off the fee income. It actually costs the bank $7- per transaction made at a branch (or there abouts). If all you customers got your way and had no fees on your accounts, it wouldn't really be financially viable for our companygoing forward would it?
Why is it when people see a plumber, doctor, carpenter etc, who all have increased their fees substantially each year, you don't complain? When a Bank does it after offerring services, people complain. We are a business as well.
It also comes to a level of education guys in regards to your Bank educating you on their products. There should be fee free accounts out there. Obviously there will be terms and conditions (like a minimum balance or something), but most Banks should have them.
Then people say, the Banks charge too much interest, and they are sick of us increasing the rates etc. Is everyone here aware that we "borrow" the money to give to you. It's that small margin between the difference from what we get the cash at, and what we give it to you for.

 

[Fro]

whats the difference between a bank and a leech?

Ones a bloodsucking bottom dweller..........and the other ones a leech.

 

[Narcissus]

Ryan: what ****s me the most about banks is that with all this talk of $7 / transaction, why the hell are there charges for internet banking?

It was all well and good to offer it as free when it was just taking off, but it seems now that even those things aren't 'free'.

I understand that technically, internet banking is not without cost, either, but it's a hell of a lot cheaper than over the counter transactions and yet it seems as though the banks want to sting us for that, too!

 

[Fro]

The bank policy I have a problem with is the seemingly automatic raising of credit card limits, without any thought as to if the borrower can pay it back. too easy for kids, or low income earners to get caught in a spiral of debt.

 

[Garts]

Garts - A Premium Banker has customers that have to meet certain criteria (income & lending amounts) i.e. I wouldn't look after someone with anything less than $300k in lending, or they would need to potentially have a very healthy income.

In regard to the fees, and how The Banks increase them all the time:-

You would all be surprised how little income is generated from fee income. EVERY transaction obviously has a cost, so this automatically comes off the fee income. It actually costs the bank $7- per transaction made at a branch (or there abouts). If all you customers got your way and had no fees on your accounts, it wouldn't really be financially viable for our companygoing forward would it?
Why is it when people see a plumber, doctor, carpenter etc, who all have increased their fees substantially each year, you don't complain? When a Bank does it after offerring services, people complain. We are a business as well.
It also comes to a level of education guys in regards to your Bank educating you on their products. There should be fee free accounts out there. Obviously there will be terms and conditions (like a minimum balance or something), but most Banks should have them.
Then people say, the Banks charge too much interest, and they are sick of us increasing the rates etc. Is everyone here aware that we \"borrow\" the money to give to you. It's that small margin between the difference from what we get the cash at, and what we give it to you for.

So howcome you complained when the football club increased GA tickets by $2? surely they must also be entitled to make a profit or in this case at least breakeven as they are also a business.

 

[The Wheel]

Because Ryan is tight arse

 

[byso]

All good points. Come on Ryan we demand answers