Corporate speak.....the Bank that wants you to leave!

[TightEnd]

So First Direct, parent HSBC, intends to charge any account holder who does not deposit £1500 per month, a £10 per month fee

Of course this is going to be unpopular

In explaining this, the PR man says "we are doing it to deepen the relationship" with their customers

By this he means ..we'd like to do more with our wealthier customers..loans, mortgages etc

By this he also means, but cannot say...we'd like our less wealthy clients who don't make us money, to leave!

So in fact "deepen the relationship" in fact means  "completely end the relationship with those we don't make money from!"

It's a classic

p.s don't you just love the banks?!!

[Claw75]

unbelievable.  If I banked with them I'd take my £1.5k+ a month and deposit it elsewhere out of principle!

[SupaMonkey]

How did you find this out tighty?

When does it start?

[Jon MW]

It was on BBC Breakfast News this morning, but they were a bit vague as to when it was coming in.

[TightEnd]

How did you find this out tighty?

When does it start?

there's a release being sent out to all customers.

I heard about it last night, from the man who has to do the PR. 

[thetank]

Whats wrong with a buisness wanting to make money?

In particular banks seem to get a rougher deal than most. There are plenty restraunts, automobile manufacturers, and purveyors of handbags etc. who cater to those with deeper pockets, why aren't we voicing our disgust at them this fine morning?

[thediceman]

How did you find this out tighty?

When does it start?

I've just received a standard letter re: new charges this morning.

Starts 1st Feb 2007.

[SupaMonkey]

http://news.bbc.co.uk/1/hi/business/6148776.stm

(am i allowed to do this?)

[TightEnd]

Whats wrong with a buisness wanting to make money?

In particular banks seem to get a rougher deal than most. There are plenty restraunts, automobile manufacturers, and purveyors of handbags etc. who cater to those with deeper pockets, why aren't we voicing our disgust at them this fine morning?

I agree in principle, but I'm not a fan of discriminating against existing customers to make your money


p.s if you buy a second product from First direct eg Insurance policy, you are exempt from the £10 charge!

[doubleup]

Whats wrong with a buisness wanting to make money?

In particular banks seem to get a rougher deal than most. There are plenty restraunts, automobile manufacturers, and purveyors of handbags etc. who cater to those with deeper pockets, why aren't we voicing our disgust at them this fine morning?

These businesses are usually branded and targeted at the higher end of the market from the outset.  This bank is going to cause lower income customers a lot of hassle when they change their accounts.

[Claw75]

Whats wrong with a buisness wanting to make money?

In particular banks seem to get a rougher deal than most. There are plenty restraunts, automobile manufacturers, and purveyors of handbags etc. who cater to those with deeper pockets, why aren't we voicing our disgust at them this fine morning?

I agree in principle, but I'm not a fan of discriminating against existing customers to make your money

Precisely.  There are a range of restaurants, automobile manufacturers out there for people to choose from, whatever ther budget.  And there are banks already that cater mainly for wealthy customers.  I have no problem with that, but if I'd been using my bank for however many years under the same terms and conditions as other banks (no monthly fee), and they decided to impose one, that's a different kettle of fish altogether.  And why not charge it across the board?  Why impose it only one those that can least afford it?  And is it grammatically ok to start a sentence with 'And'?

I suspect First Direct will find that they lose a lot of customers and, therefore, money through this - time will tell, but I wouldn't be at all surprised if the idea got scrapped before it even came into force.

[SupaMonkey]

I think 1500 quid is too high. Plenty of people don't have jobs that pay that (after tax etc.). They must know this so i think they are discrminating here.

I don't mind the charge as long as their product improves. I would like to know what they plan to spend this money on.

Will they transfer accounts to HSBC without us having to do anything (if we want to leave), that would be the right thing to do. If so, then i think they are just trying to make FD a higher end bank.

And is it grammatically ok to start a sentence with 'And'?

No, but who cares.

[TightEnd]

  And is it grammatically ok to start a sentence with 'And'?

No its not. However I am not allowed to tell you that.


Please go to the naughty chair for 5 minutes.


Regards

So Comma Crew

[Claw75]

Will they transfer accounts to HSBC without us having to do anything (if we want to leave), that would be the right thing to do. If so, then i think they are just trying to make FD a higher end bank.

If that was the plan and they were upfront about it (and presuming an ex FD customer could get all the same services from HSBC as from FD) then I don't see a problem with that.  Perhaps they have - I've not read anything about it other than what's been posted on here.

[MPOWER]

unbelievable.  If I banked with them I'd take my £1.5k+ a month and deposit it elsewhere out of principle!

 >:?

If you did everthing out of "principle" in life you'd go mad.  


Regards

M