10 things your bank won’t tell you
Check out this interesting article that came out yesterday, 10 Things Your Bank Won’t Tell You. It’s a candidly cynical perspective on financial marketing, and attacks many of the common messages financial institutions use in their advertising.
Here’s the list:
1.) “Our branches are there to sell you, not serve you.”
2.) “Our fees will only go up.”
3.) “We change our interest rates all the time.”
4.) “College campuses are gold mines for us.”
5.) “In debt? The courts won’t help.”
6.) “We’re excited about your trip to Europe, too!”
7.) “For all the fine print, we don’t disclose very much.”
8.) “Your money might be better off elsewhere.”
9.) “When it comes to banks, smaller is sometimes better.”
10.) “Your online account information isn’t necessarily accurate.”
In the article, the author goes into detail for each item on his list.
What would you add? How about:
11.) “We can’t stop phishing attacks.”
What do you think belongs in the list?
Previous related stories from The Financial Brand:
- Wachovia ties new automatic savings product to debits
- Got money to lend? Tell the world and get free press
- Cash Back Boulevard from Zions Bank
Tags: banks
August 27th, 2008 at 8:11 am
How about: We actually want you to overdraft on your checking account … regularly.
On a related note: It’s very easy to turn off your overdraft privileges, but I will pretend like it’s not.
August 27th, 2008 at 8:43 am
Ben beat me to the punch.
I was going to add: “We make more money from fees than from the spread.”
Ben’s wording is much better.
August 27th, 2008 at 8:47 am
How about: There is a big difference between credit unions and banks. And it’s easy to join one.
Okay, I admidt, I’m biased on that one.
One more: There’s a reason we call it a Teaser Rate - Nya nya nya - we GOT YOU!
August 27th, 2008 at 8:54 am
“Our service is okay, but it’s not really all that great.”
August 27th, 2008 at 12:17 pm
“Our difference is our people (if you can interact with them before they quit or we lay them off).”
August 27th, 2008 at 12:23 pm
“You really are just a number.”
August 27th, 2008 at 1:32 pm
“Your baby is ugly.”
August 28th, 2008 at 11:44 am
“In the event of a financial emergency, what should you do? Don’t ask us…we don’t care.”
and:
“We scream and yell about how CUs get special treatment from the government, but we don’t seem to mind when we flop and the Feds have to bail us out!”
August 28th, 2008 at 12:37 pm
That is just SICK. Reading that makes me cringe. How about:
“We give you fair warning to decline an increase in your interest rate.” - hidden in the fine print of a 16-page document where you have to jump through 5 golden hoops and sell us your soul in exchange. (Bank of America)