The following words are used in the banking world and these are undeniable facts: The explanation of the words are generic accepted definitions
1. Client Someone the bank has done business with or is doing business with.
2. Client Services Something to be delivered to the person mentioned in 1 above.
If applied right this should be the ultimate purpose and vision of a any bank.
3. Profit Although not necessarily contained in their mission and vision statements the actual ultimate purpose of a bank.
4. Loss : What the bank suffers if they are not paid their fees and interest. At all costs this must be avoided.
5. Client information : The information the bank should have to be able to manage the relationship with the person in 1. above.
6 FICA : A South African law governing the relationship of “know your Client." This is minimum information the bank must have of its Client. Not meant to be a client relationship tool.
Banks have all very impressive advertisements, sayings and probably some of these are actually meant to work in the way it is intended. However hard they try their real purpose of existence is making money and supersedes all other intentions. The love of money and profit when it supersedes everything else can in the most appropriate way be described as “Greed”. So now we are at the point where the statement can be made that banks are in the first instance greedy.
Banks do business in a confrontational manner. Every document you are given to sign, every condition that is enforced on a client, every system* utilized , every action concerning a client is an absolute rule. You cannot negotiate. You cannot change the wording on any document. This is how you do it. This is where you stand or sit when you have to see someone. You have to go into one of the branches if you need to do something. The fact that there are 60 persons already waiting is a non issue. Wait ! I like to call it “hitlerization” Hitler did not understand that he was setting an example. It was only recently perfected when the modern banks came along.
Here is a paragraph strainght out of client service training manual 101 chapter 1 page 1:
“ When a prospective new client walks into the bank you will smile. You will greet him politely. You will determine the purpose of his visit. ( It is very important that these actions be concluded as soon as possible. It must NEVER exceed 2 minutes.) During this period you need to determine the level of this prospective client’s actual Wealth. The bank needs to determine how much money we will be making out of him.
If he wants to open a savings account refer him to enquiries as soon as possible. If he wants a loan he is prime target. The bigger the loan the better.
Should a client want to speak to a consultant about possible defaults or arrears you must understand that although the client might think he is still a client he is not. He is now the enemy. He is the personification of evil. He steals your bonus at the end of the year. Treat him in a manner that he understands he is not a very likeable person anymore. Refer him to the collections department who is specially trained to make him feel guilty , get him to sign new
Promisary notes or even consent to summary judgment. They know how to do this without him actually knowing what he is signing “
Your status as prime client changed to that of criminal the moment you defaulted on something and are now actually costing them money. “You must come and see a consultant” “I am sorry but I will not” Ooh aches and pains “Ok when and where can the consultant see you at a place and time that will suit you sir ? “
Suddenly an attitude change : They might actually lose money now if they do not play to the customers tune !
The big swear word causing all the commotion of course is “Credit” If a potential client visit a bank with the purpose of opening a savings account he will be asked to fill in a form. Hitlerization requires the bank to check his credit record. What the.....hell for? He is not borrowing money ?
Fica sir. Yes Fica you too! Fica does not require the bank to check your credit record but big brother needs to keep track of what you do with your money.
You have to build a “credit record” sir . Why? So you can buy a house or a car on credit – you know we need the interest ( and the funny little costs )
Banks that used to be there to keep you money safe have now created a paperless economy with funny money. They call it “credit” Government even created a new law called the “Credit act”
What was the purpose of this act ? Apparently it was to safeguard the client. Who has been safeguarded apart from the banks ? Pray tell me !
Banks now use this act to their advantage. They pry every little personal detail out of their prospective clients. Nothing is sacred anymore. For them to give you a R 1000 loan they require of you to fill in an umteen forms and documents. Even trying to open a cheque account that does not require any credit facility goes through the same grueling process.
To be continued – These narritives are part of a book being written on banks by the author and is a lighthearted but very serious relay of what is actually going on with the business of the guys that should be looking after your money ( You only think it is still yours – They have misappropriated some of it to their advantage long ago)
*http://bewarethebul.blogspot.com/2010/11/un-human-factor.html
