Last week, with Certificates of Deposit (CD) due for renewal, I called the bank to find out the new interest rate. A woman answered, dithered a bit and then said that nobody could talk to me. They’d call back.
I called again the next day. Same thing. The bank is a Florida operation with 20 branches, so I tried calling another branch that is near my office, but apparently you can’t do that.
Hmmm. I called my original branch, tapping my feet, and told whoever answered that I’d be in to close the CDs the next day. He said “okay”.
So, I drove over there and, after an hour of waiting to get approvals, I left with my cashier’s checks. The employees didn’t even pretend to try to keep me as a customer.
Later many people tweeted and emailed me that the reason the bank didn’t care about renewing my CD’s is that they really make no money on them and that they’re more interested in investment accounts or loans.
That may be the case, but aren’t I a prospect for all of those programs also? Yes, I am. Plus, I’m on my Condo Board and we have a huge sum of money in that particular branch. They made me upset because they didn’t recognize our long-term relationship. And, as a business owner, I would be so upset if any of our clients were ever treated poorly like I was.
Flash forward a day
I was talking to my right-out-of-college assistant, Rachel, about saving money and investing wisely. One thing led to another, and I called to make an appointment for her with Jack Howell at a nearby branch of Scottrade.
He was happy to meet her and spent a lot of time explaining how to trade online. He answered her questions and was so informative that I, who’ve had a Scottrade account for years, learned a few things – like how to find dividend bearing stocks on Scottrade’s website. Here’s a photo of Jack with Rachel.
Since then, I’ve told all kinds of people about how great Scottrade is, even Tweeting the company’s praises to my 17,700 followers. My cousin, Fran up in Philadelphia, just called to tell me she signed up for a Scottrade account. Maybe others did, too.
I can’t understand the bank’s cavalier approach to customer service. They weren’t always like that. My Mom and Dad banked there for years and loved it. Maybe it has something to do with the fact that a large international bank group bought them a while back and now their marketing focus has changed.
Maybe they just wanted me to leave. It’s possible. But, why? What are your thoughts?