Argghhh – Banks (again).
I dream of one day waking up and finding out that the people in charge of my banks in New Zealand actually look at their customers accounts and business before making blanket decisions.
It would be nice – just once – to be treated by a financial institution as if I was something more than the dirt beneath their feet.
Today’s frustrations comes from finding out that I have lost my Interest rate discount on my personal Revolving Credit mortgage. Of course – the bank didn’t bother to tell me this – that would be proactive and customer focused. Instead I found it out while doing my accounts and balancing my statements.
So I contacted my Personal Relationship Manager – who I have to say is exceedingly good, and I have absolutely no complaints about – to ask for it to be restored.
Except – as always – there’s some faceless ninny in a back office who says “no”. Faceless ninny of course doesn’t have to front up to pissed off customers – but hides in the back office and lets someone else take the heat for their stupidity.
So here’s the thing that makes said person in back office a complete moron.
I hardly ever pay interest on that account anyway. In fact last year –out of 12 months – I paid interest on only 3 months – most of the time the bank had to pay me because I was in credit. Things have been tight this year – so I have had to pay a little bit.
$429.60.
Since April.
My rate is 5.75, but with the discount would be 5.5%.
What this means is that over the same period – I would have paid $410.92. (Ha – see school maths and simultaneous equations really does come in handy every so often).
Now it would be worth the bank perhaps not giving a discount on a mortgage where someone pays a lot of interest – our original interest charges were nearly $1000 a month. But in this case – for the sake of $18.68 they have hacked me off, and I’ve written a blog about them.
And I’m about to pull my life and income protection business off them as a reward. That’s $220 a month in premiums down the toilet.
Never think you cant do something to get the banks back if they treat you like garbage. There are ways – and we can vote with our feet. It might be difficult with banks as they all seem hell-bent on trying the be as crap as each other – but hey – we can still try.
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Related posts:
- Beating the banks with the Mortgage.
- Now even our MP’s want to know why the banks are ripping us off.
- How to beat the banks?
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