The ASC Blog
Trust me I am a Banker
Let me provide you with an insight into how the “bank manager” role has changed in the last few years! This is a true scenario:
A client of ours has a loan for several million £s with a high street bank and quite rightly has the habit of checking the monthly computer produced statements carefully. For the last few years he has had no real problem, however, this month he noticed the bank overcharged him by several hundred £s.
Now the story begins. When he contacted the bank nobody knew who is dealing with or who could resolve this matter. The original lending manager couldn't help, the relationship manager couldn't help, the admin manager couldn't help, and customer services couldn't help and so on. Apart from wondering why no one could help, our client was perplexed at the level of service being offered to a 'valued' customer. I am not going to name and shame and quote from the bank's website or their mission statements, because as you guess the way they want to see themselves is in stark contrast to the way they operate.
After a while I found out what the problem was: about 9,000 accounts had been overcharged by one day, because of a computer glitch. In other words, we are talking big money. But now comes the "interesting" part of the story; although the bank recognised the problem and wrote to all their clients whilst organising the correction with a credit to the account – rather than debiting the account within a few hours of the 'glitch' happening (bearing in mind these are large valuable clients) they processed the credit 9 days later: That means that clients will be charged 9 days interest next month on the ever so slightly higher amount. Multiply this by 9000 and Arthur Daley would be jealous that he did not work out this nice little earner – maybe it is easier to trust him?