Bank rage increasing?

[Dry Rot]

I've had a gutful of banks for years, and don't hold back when there's a wait of 20 minutes or more (particularly with so many old people using my local). It seems fine for them to waste my time because they won't hire enough people, and then charge me for everything they can think of.

What I've recently found interesting is the number of other customers now joining in.

 

[Docker_Brat]

As long as you don't take it out on the poor bugger behind the counter. The staff on the front line cop enough crap from management and have the added bonus of wondering if they are next in the firing line when the shareholders need a boost in their investment or a CEO needs an $18million golden handshake.

 

[Danni]

I used to be one of those poor buggers behind the counter (a few years ago). I couldn't wait to get out of there and find a new job.

It is just as frustrating for the staff as it is for the customer, but the staff have to grin and bear it.

The one management directive that I believe is still in place, that is also one of the biggest culprits for time consumption behind the counter is the "Phone must be answered withint 4 rings" rule. It was said to be because the customers could see you were busy, but the person on the other end of the phone can't, so it is rude to keep the phone waiting without explanation.

 

[ThePowerFromPort.com]

I rarely set foot in a bank these days and do everything I possible can using a telling machine, the phone or the internet so I don't suffer from bank rage. If I have to use a bank for any reason I go at a time when I know it won't be as busy but not everyone has that luxury. The lines and service can be frustrating I know but there isn't much point complaining about it. Will it achieve anything other than getting more people worked up and frustrated?

 

[Spidergirl~RiCkChiCk]

Its because they wont damn well do things over the phone or if they do they still insist you must come into the bank! Probably for security reasons but it is very frustrating and time wasting particularly when they make you come in more than once!

 

[ThePowerFromPort.com]

Originally posted by Spidergirl~RiCkChiCk
Its because they wont damn well do things over the phone or if they do they still insist you must come into the bank! Probably for security reasons but it is very frustrating and time wasting particularly when they make you come in more than once!

I have rarely had to worry about that sort of thing. I was a long time customer at a country bank and even though we moved to the suburbs I stayed with said bank because I knew them on a personal level after years of dealing with the girls and managers there. When we built our new home I never once had to go in to see them. We dealt with everything via fax, phone or mail and on a couple of rare occasions I was able to use a local branch as a go-between. I doubt I would have had such a trouble-free experience at the local branch here.

 

[Wicked Lester]

I recall vividly in the pre ATM days queuing for 20 minutes or more every time we went into a bank - even to withdraw $20.

My view (which I suspect does not have much support) is that by and large banks have improved their service out of sight. The problem is that public expectations of service delivery, be it from banks, government agencies, etc, has also increased substantially. Through some arrogance of their own making, and some clever campaigning by a number of NGO's and activists, who hate banks (they represent everything critics of liberal democracies detest), the banks have increasingly become a target for everything all that is wrong.

Witness the sensationalist reporting everytime a bank releases a profit result (billions!!!!! - how despicable). The simple question to me always is if this represented such an astronomical return on investment aren't we all mugs for not buying shares? (I don't work for a bank, never have, and don't own any shares).

I'm also intrigued by the bank closures complaints. Surely the great inevitability of ATM's and now internet banking was always going to be less need for traditional banking infrastructure.

And lastly that other old chestnut. Small town bank closures. Regretably in many cases this is a chicken and egg argument. Most closures have occurred in small wheat belt townships that have been declining in population since the beginning of the 19th century. Did the bank closure destroy the town or did the banks decision reflect a long term trend of decline for that town. I recently tackled a group of disenchanted small townsfolk over this exact issue - in their case NAB was closing (the town had about 500 people.

I hope you all personally banked there? - says I.
Needless to say, only one of the 6 did. The others all did their banking when shopping at a much larger regional city only 40 kilometres away! Enough said.

 

[ThePowerFromPort.com]

The town I lived in had around the same population Wicked Lester. While other branches nearby closed down, ours ended up under the control of a larger branch at Lobethal about 25 minutes away but kept operating on a 3 day week basis. I felt inconvenienced by this, especially if you forgot they were closed Tuesdays and Thurdays and they never had a telling machine, but I learnt to live with the change and worked around it. It's even better now because I have the convenience of telling machines and eftpos facilities all over the place down here but still get the personal country service over the phone when needed.

 

[Pornstar]

My wife and i had a personal loan, which we paid by a $200 direct debit each month over several years. Over this period, we paid a substantial sum in account keeping fees. Recently when we had paid out the loan fully, i noticed that the bank was still taking $200 direct debits out of our account! I want to know WTF kind of account keeping these fees were paying for because it sure as hell wasn't taking any notice of the balance of the loan.

 

[Wicked Lester]

Originally posted by ThePowerFromPort.com
The town I lived in had around the same population Wicked Lester. While other branches nearby closed down, ours ended up under the control of a larger branch at Lobethal about 25 minutes away but kept operating on a 3 day week basis.

So you're an Adeliade Hills resident?

Nice part of the world.

 

[Bluey]

Originally posted by Wicked Lester
Witness the sensationalist reporting everytime a bank releases a profit result (billions!!!!! - how despicable). The simple question to me always is if this represented such an astronomical return on investment aren't we all mugs for not buying shares? (I don't work for a bank, never have, and don't own any shares).

Fine if you could afford bank shares when they represented value.

Let me guess - your bank accounts never used to have fees for just having an account? Or for going into the bank? That would have been laughable.

Now we are STILL waiting 15 minutes for service and being charged to boot. What if you want to get a few thousand out of your account? You can't get that from an ATM. You have to go in to the bank. For which you are charged. I complained and was told to go to the ATM over multiple days. So far from being a convenience, ATMs become a burden.

ATMs. Depending on which bank you use you are now charged to use your OWN banks ATMs. So what do you do? Get on the Internet. Last time I checked my CD drive doesn't spit notes out from my account.

Why aren't we charged for depositing money over the counter? We can do that through the ATM. So why aren't we charged? The fact that banks take in more money than they give out means that we withdrawers are subsidising savers. Is that fair?

It started with new mortgage companies being blamed for taking the profits out of home loans. Thus the banks could no longer 'carry' the small account holders. Fees were introduced.

Aussie Home Loans is now a 'broker', it passes business onto banks.

Yet still we are being gouged every time we so much as walk past a branch.

The banks are always crying poor, but now make up 25% of our stock market, with record profits each year.

Banks are arseholes. You work for one, you wear the consequences of working for such people. If you don't think you are paid enough to take the crap your customers dish out, get another job. Or go and live off the bank shares you should have bought. If it's my fault I couldn't buy bank shares when they were low, it is DEFINITELY your fault you don't have a different job.

Do bank employees have a union? What is the union doing about the poor working conditions? Are they telling the banks that they have to make things easier on the customers and thus easier on their staff?

Sorry but bank apologists really get up my nose.

 

[knuckles]

Originally posted by Bluey
Fine if you could afford bank shares when they represented value.

Still do. Buy.

If anyone takes longer than a minute to transact at an ATM, an electric shock should go through their body.

Banks are great

 

[ThePowerFromPort.com]

Originally posted by Wicked Lester
So you're an Adeliade Hills resident?

Nice part of the world.

Yes it is and I miss it but we moved back to the suburbs recently for the kids sports as we had to do too much travelling for their training and games.

Originally posted by Bluey
Let me guess - your bank accounts never used to have fees for just having an account? Or for going into the bank? That would have been laughable.

Mine still doesn't charge me any fees. All you need to do is look into where you save on fees. Fortunately my little country bank had a very thoughtful person tell me how I could avoid paying any fees on my accounts, my mortgage, my ATM withdrawals, my credit card etc. On top of that she also told me how to save on my mortgage interest and how to actually receive cash rewards for using my credit card for everything. I don't pay any fees on anything except a small charge they are introducing as an annual fee for the credit card next year (one I have been excempt from for years now), and the usual mortgage interest. Credit card is paid off monthly to avoid interest and I usually get around $400 to $500 a year cash rewards for using that card.

I agree Bluey about withdrawing large sums, that is a pain but something I rarely have to do as most things I do through net transactions. In general I dislike banks and their greediness just as much as other people do, but I have nothing against my bank as they have looked after us well.

 

[hotpie]

Originally posted by Dry Rot
I've had a gutful of banks for years, and don't hold back when there's a wait of 20 minutes or more (particularly with so many old people using my local).

You are a dinosaur.

Most people these days never step into a branch. It is generally unneccesary.

 

[Fred]

Re: Re: Bank rage increasing?

Originally posted by hotpie
You are a dinosaur.

Most people these days never step into a branch. It is generally unneccesary.

I sure as hell don't - they'd probably arrest me.

 

[ThePowerFromPort.com]

My poor old dad refuses to keep up with technology hotpie so I would class him as a dinosaur as well. Trouble is if he withdraws large sums of money at his branch he is at risk of being picked off by muggers. It happened last year when he was followed home from the bank and a guy forced his way into the house behind him and took a few thousand dollars that he had just withdrawn. I've tried to talk him into using telling machines and phone banking but to no avail. He won't set foot near a computer either.

 

[ScouseCat]

I work for one of the largest Credit Unions in Australia in their Call Centre, basically I'm one of the people our members talk to when they need help with their banking. At the end of the day, we are there to help people by offering alternatives for them to manage their banking needs. If they choose not to take on board our suggestions, then they really can't complain about the wait time or charges, especially when there's ways to avoid them.

For example:

Someone rings up, complains about the hold time, (how long they had to wait on the phone) then asks for a balance or details of transactions on their account.

I would say, "did you know that you can get this information without waiting on hold by using our internet banking or automated phone banking service?"

If they didn't know this, then I have just given that person a couple of alternatives by asking one simple question. If they did know of these services, I would then offer to assist them so they can do it themselves next time.

The main thing for customers to remember is that people like us are there to help them, not make it more difficult.

 

[Bluey]

SC that isn't the point.

You sound like you've been brainwashed.

There is NO way to get a large amount of MY money out of my account at once without being charged. Sure I can drive down to the ATM every day for a week, but is that practical? Is that what you'd call service?

ATMs are the typical bait-and-switch. Get people used to a free service, take away other services as 'nobody uses them any more', then hike up the fees because now you have NO ALTERNATIVE. If my bank's ATM at a shopping center is down, I have NO PRACTICAL ALTERNATIVE but to use the one next to it and be gouged $1.50 to $2.

Oh, I could walk a kilometre if I know where the nearest one is, but that isn't practical. I could go in the bank but guess what? That's a $2.50 charge.

ATMs are supposed to be saving the banks labour costs. Now we find that the cost of ATMs is "a burden". Something that was fine for 10 years or so all of a sudden becomes a huge, costly exercise for the bank?

So we all switch to Internet banking. Hardly anyone uses ATms anymore. They start removing them (already have).

You know what happens next? We're charged for Internet transactions and they start ramping up retailer and customer fees for EFTPOS. We can't do anything about it because the banking cartel has made sure there is NO PRACTICAL ALTERNATIVE.

Banks are arseholes. It is intrinsic. I've never seen any evidence otherwise. Their sole purpose is to ensure that every one of their customers gives them as much money as practically possible. They are not there to help you buy your house. They are not there to help you buy that new car. They are not there to help you go on a holiday. They are definitely not there to help you save.

Banks are there to sell you debt. As much debt as they think you can afford. If they miscalculate and sell you too much debt, you are the evil defaulter, and must be punished with late payment charges.

 

[Pornstar]

You're exactly right Bluey. That's why the banks are such a great investment, they've got us over a barrel and nobody's going to stop them. If you can't beat em, join em; i'm plonking a significant amount soon into the big4, and then those fees they charge won't be so offensive to me.

 

[Bomber Spirit]

Why are the queues so long and the service so bad? Just for starters, 1,000 people lost their jobs; 1,000 families struggling to put food on their tables and keep a roof over their heads. All to pay for Cuffe's bonus. And this sort of thing happens every few weeks.
If his bonus had only been 10% of that (still obscenely high), that's 900 extra staff who would still have jobs, 900 families who would still have a breadwinner. 900 staff who would be available to serve customers, but aren't.

It's just evil.

 

[knuckles]

Originally posted by Bomber Spirit
Why are the queues so long and the service so bad? Just for starters, 1,000 people lost their jobs; 1,000 families struggling to put food on their tables and keep a roof over their heads. All to pay for Cuffe's bonus. And this sort of thing happens every few weeks.
If his bonus had only been 10% of that (still obscenely high), that's 900 extra staff who would still have jobs, 900 families who would still have a breadwinner. 900 staff who would be available to serve customers, but aren't.

It's just evil.

The queues are so long b/c they don't want you to come into the branch unless you are there to borrow. Its taking a while for people to get the message.
Less staff and branches (lots of capital tied up in buildings to deliver a service that no longer needs buildings) is there aim, not more.

 

[luthor]

Originally posted by Danni
I used to be one of those poor buggers behind the counter (a few years ago). I couldn't wait to get out of there and find a new job.

.

Well I'll be...........

So was I.

Funny how sometimes you learn more about others over the internet than you do face to face.

Next time I see you at the Gabba, we'll have to compare notes and exchange some old Banking tales

 

[luthor]

Originally posted by Dry Rot
I've had a gutful of banks for years, and don't hold back when there's a wait of 20 minutes or more (particularly with so many old people using my local). It seems fine for them to waste my time because they won't hire enough people, and then charge me for everything they can think of.

What I've recently found interesting is the number of other customers now joining in.

The blame for the closure of branches and the lack of service can only be levelled at.............ourselves.

Or if you want to find a more palatable scapegoat blame the big Supermarkets.

Up until the 60's and even into the mid-70's Banks were still expanding their Branch networks. They were looking for excuses to open more branches and points of representation.

Typically Branches, Sub-branches and Service Centres were opened (not shut) in abundance in regional and suburban strip- shopping centres.

Why?

Because the popultion at large was less mobile and actually supported their local shops, harhware stores, hairdressers, florists, newsagents, butchers, chemists, fruit shops etc.

In other words, your local small businessses made money and where money is being made, deposited and borrowed is where
Banks want to be!!!

Small business was a cash cow for the Banks. That plethora of branches existed for one reason only........to catch the wealthy small to medium enterprises that abounded. The service levels we as the average customer enjoyed were simply a by-product of the Banks competing for for the local small businesses.

Then along came the BIG Supermarkets with their one-stop shopping and their "Specials"

So what did the average consumer do?

He/she abanoned the small businesses that serviced the area and flocked to the Hypermarkets, Supermarkets and concrete jungle Shopping Centres.

Why pay $2.35 for a tub of marg at the local shop when the Supermarket is selling it on Special at 99 cents??

The entire demographic of the shopping and service industries shifted radically in the 70's.

Banks (or any service industry that depends on the generation of wealth) ain't gonna hang around if the local population don't put money in the pockets of local business.

Despite what you might want to think, there was and still is, NO money to be made by Banks from processing over the counter transactions for your average customer.....even your more than average customer with a home loan, a personal loan, acoounts for their kids and a handy Term Deposit or two.

Banks go where business makes money. The fewer businesses making money, the fewer service points the Banks, Insurance Companies, and the like feel the need to provide.

One big branch in the middle of one big shopping centre is a hell of a lot less expensive and a hell of a lot more efficient than scores of them spread out over suburbia.

And they don't feel the need to provide you with a reasonable level of service because you just aren't worth a cracker to them.

We as consumers can't have it both ways.

If you centralise your spending habits, the service providers will centralise their points of representation.

You can't expect to "save' money by spending your dollars with the big boys and at the same time expext service points everywhere within a km or two from your home.

If you want to see some service return to the Service industry, decentralise your own spending habits and support your local businesses.

 

[Longboysfan]

Used to have the same sort of problems up here.
Go to bank wait in lines to deposit and withdraw.

Now most companies offer direct deposit.Money is in account the day before.

Got my banking switched over to a local branch near the house.

Use the ATM local when cash is needed.

 

[ScouseCat]

Originally posted by Bluey
Banks are arseholes. It is intrinsic. I've never seen any evidence otherwise. Their sole purpose is to ensure that every one of their customers gives them as much money as practically possible. They are not there to help you buy your house. They are not there to help you buy that new car. They are not there to help you go on a holiday. They are definitely not there to help you save.

Bluey,

I agree with you about the banks, that's why many people are switching over to a Credit Union such as ours. The major difference between us and a bank is that banks must make a profit for their shareholders whereas a Credit Union is there for their members, not just to make a profit. Any profits we make are put back into the Credit Union to ensure we remain secure and that our systems are up to date so we can continue to provide excellent services for our members.

As far as withdrawing money, our members also have access to Australia Post using their ATM card so there's no need to come into a branch and wait in a queue for a withdrawal. These transactions actually cost us more money to process believe it or not, (think about the extra staff we would need to employ) so why do this when our member can use Australia Post as an alternative?? This in turn enables us to keep our fees as low as possible. Sure, we have transaction fees because the banks charge us as a Credit Union whenever our member uses one of their ATM machines, but we offer everyone some free transactions per month as well as no account keeping fees.... something I doubt we'd be able to do if we kept encouraging our members to come into the branch to make withdrawals.

Our Internet and automated Phone Banking services are free.... we actually want our members to use these services as they are less costly to the Credit Union and that means the member doesn't get charged. They are also very good services, allowing our member access to their money 24 hours a day, 7 days a week.

Originally posted by Bluey
SC that isn't the point.

You sound like you've been brainwashed.

LOL - I wouldn't quite say brainwashed, rather I have seen what we have to offer compared to the banks and I know where I'd rather do my banking!!