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OH and myself have been with our current bank for over thirty years. We first opened an account with said bank prior to us emigrating to Oz, so we should be given some credit for loyalty.
Several years ago we received a letter from the Bank regarding our credit card, basically saying that if we wanted to retain the fifty five day interest fee period for repayments we would have to pay an annual fee of $60.00. If we paid the monthly amount off as soon as it was due, we would still continue to pay no fee.
We elected to do the latter as we had always done this anyway.
In 2014 we received a rather faecally tainted letter saying that we had not paid any fees and from November that year we would be charged $29.00 for use of said card.
The inference from the letter was that somehow it was OUR fault that the charge had not been paid.
On the positive side the letter did inform us that if we spent $1000.00 annually with the card then no charges would apply.
As we have a couple of standing orders payable via the card, including internet and gas providers we knew that we would be over the $1000.00 figure.
November came and a $29 fee was taken from the Bank Card:-| :-|
Fast forward to a couple of days ago, and on the November statement another Fee had bee extracted even though we had purchase goods or services well in excess of the magical figure.
Straight round to the local branch to seek an explanation
Staff extremely helpful but couldn't offer any explanation so one particular person phoned the head office. It appears that as we have had the card for so long, it was one of the 'older' ones to which the $1000 figure did not apply :-S
I wonder how many other customers have been caught in the same way
Told we would have to 'migrate' our card to a new one. Done in a few keystrokes....would we need new cards? NO! And the 2015 fee would be reimbursed. WIN!:-D :-D
Whilst on the phone waiting for a response, the staff member was looking at our accounts, which are all linked.
"Did you know that you are only earning 1.8% interest on your Netbank Saver account"
"no' (When we first opened this account it was earning 6%)
"Did you know that if you change To a Pensioner Savings account you will earn 3%?"
Never heard of it, so we asked all the stupid questions, how long does it take, do we have a new account number? can we transfer all from our old account to the new one?
None of the above...we just change the name of the account :-S
So due to an extremely helpful staff member, we not only resolved one issue but we also gained a higher interest for one of our accounts.
Banks wonder why there is no longer any loyalty. Perhaps, just perhaps, if they had a section employing people like the member of staff we met, the Banks themselves could advise their customers of such changes, and leave it up to the customer to decide if they wish to take advantage.
I suspect however as that may reduce their grossly inflated profits, it's easier, and more profitable , to say nothing :-P :-| :-|
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