Tuesday, February 9, 2010

Why Should We Take the Hit?

This article about the least-trusted banks in America (in the New York Times recently) amused me:

"The bottom seven of this year’s rankings, first to last, are Bank of America, Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC.

"To put the rankings in perspective, large banks have generally been at the bottom of the list since the survey was initiated seven years ago...In fact, the more customers a banking institution has, the lower its customer advocacy ranking is likely to be, according to Forrester.

"Why the poor rankings for the big banks? “Part of it is that the banks are preoccupied with their bottom line. They are public institutions who are in business to make money for their shareholder and inevitably, that shows to customers,” Mr. Doyle said.

"A high customer advocacy ranking means that customers tend to believe their bank takes their side in disputes, does what is right even if it’s not required by regulation to do so, gives fair rates or performance comparisons and is clear about charges and fees, Mr. Doyle said."

My bank is Chase. Recently, they did something really assy to me, which the branch manager defended. When I called back to talk to him, some teller incompetently fielded my call, telling me, "Why should we take the hit?" Apparently, Chase experiences "not being able to fine you unfairly" as a personal attack on them.

Anyway, unluckily for the branch manager, I actually enjoy writing angry letters, so I wrote one to the CEO, who passed it along to the branch manager's manager...who called me personally and literally could not stop apologizing. It was almost embarrassing. She reversed the fines and followed it up with a letter of apology.

"Needless to say, I had the last laugh."

Chase's new promotional poster by Guy


  1. Applause! Love to hear a customer get the upper hand for a change.

    Oh, and I love to write angry letters, too.