May 3, 2010 |
Like them or not, banks can be hard to leave. Who wants to transfer accounts, get used to new branch locations or master a different online banking system? But consumers increasingly are willing to unglue themselves from what bankers call "sticky" relationships, according to a retail bank survey released by J.D. Power and Associates Inc. last week. It found a growing belief that banks are driven only by short-term profit goals, and that they often overlook basic services such as keeping branches clean and explaining fees to customers.
February 27, 2012 |
Nearly 10% of bank customers switched to another financial institution last year, with a third saying onerous fees prompted the move, a J.D. Power & Associates study found. The 9.6% who moved their money compared to 8.7% in 2010 and 7.7% in 2009 - an increase the study attributed to a backlash against increased fees, coupled with poor service and unmet customer expectations. “It is apparent that new or increased fees are the proverbial straws that break the camel's back,” said Michael Beird, director of Power's banking services practice.
May 30, 2012 |
Is your bank dinging you with a variety of fees? You might be tempted to switch your accounts to a different bank. But watch out, says Consumers Union in a report released Wednesday -- some banks actually charge you fees to leave them. In addition, the switching process can be so complicated that it can inadvertently trigger late or penalty fees. It can even trigger the creation of "zombie accounts" that can rack up fees. "Consumers may be fed up with their bank, but they can encounter roadblocks that make moving their money a real headache," said Suzanne Martindale, staff attorney for Consumers Union.
September 10, 2011 |
How do you make a bank that has focused on Latinos more popular among other potential customers? You change its name — say from Banco Popular to Popular Community Bank. Puerto Rico's largest bank is Anglicizing its name outside its home turf. It switched to Popular Community Bank signs last month at its 24 branches in Southern California, where the 117-year-old institution opened its first office in 1975. "It was taking a lot more effort to get new customers who were not Hispanic to bank with us," said Manuel Chinea, senior vice president of retail operations for Banco Popular North America.
January 5, 1990 |
Given the number of books and seminars, conferences and courses advertised these days, customer service seems a hot topic in business. It's a good way, say experts, to "differentiate" one's company from the crowded competition. Few really say what customer service is, beyond the implication that it's whatever they, or their clients, are offering.
April 13, 2001 |
Moving to strengthen its online offerings and diversify its services, Countrywide Credit Industries said Thursday that it will use a charter gained through its acquisition of an East Coast bank to offer banking services over the Internet. Acquisition of the bank charter puts Countrywide on a more level playing field with major banks, its chief competitors in the mortgage origination business.