The tools of our business – choice, discretion and honour

Back in January when visiting the local branch of my bank, I was whisked in by the customer relations manager and offered their premium service at a discounted rate. I weighed up the benefits and agreed to sign up. It looked like a good deal.

A couple of weeks ago I had a standard impersonal printed letter from the bank’s mass mail saying that the bank had looked at my banking practices and decided that I no longer qualify for their discounted rate because I do not satisfy the conditions, which they listed. Guess what? My account charges would be going up 43%.

Now, it is important to note that the bank’s customer manager told me that I qualified for the special rate. I examined the criteria set out in the impersonal letter I had received. I have to say that I never qualified for the discounted rate in their terms because the accounts I run for three different business entities and several income streams are not managed in a way that could satisfy the requirements.

I am not pleased. Because of the benefits I thought I was getting I cancelled some insurance I had elsewhere and my existing car breakdown cover amongst other things.

I called the bank and was told there was “nothing they could do” other than apologise and register my complaint. They cannot offer the service at a discounted rate.

Now, this is not supposed to be a whinge about large organisations in general. Of course, once upon a time, bank managers had discretion to change things and fit services and charges to individual customers.

It so happens that my first job was with a bank. I accepted a job offer at a salary which turned out to be higher than the amount normally offered to someone of my then age. My new employer, or at least the personnel manager, realised the mistake but told me the bank would honour their offer, and this was all before I started the job.

As small business owners we are in a different position. We have a choice as to what services to offer at what price, and to cement our relationship with our customer thereby. Our customers still have a choice to use us or not, but as long as we can offer a valued service at a valued price we should be able to keep them.

Should something go wrong we can use our discretion to put it right. We should keep our word, our self respect and our honour by honouring our commitments. We can even get a nice warm feeling in doing so. If we stick to our ethics we can grow our small business into a big one and instill our honourable approach into our staff by allowing them discretion.

Large organisations such as banks have lost all connection with customer service through becoming remote from us in ivory towers known as call centres. They may say they need to be competitive in terms of cost, but I would not mind paying for a proper service from a bank which honoured its commitments. They should note that supermarket chains generally take customer complaints seriously and try to put things right. It is not about being too big: it is about having real customer-facing staff with discretion to act on their own initiative. Banks and mobile phone companies haven’t a clue about this.

As a small business owner I am happy that choice, discretion and honour liberate me from becoming like the banks, including mine which has just been voted the worst in the UK for customer service. Are you not pleased, but not complacent, that you are not as they are?

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Comments

  1. Interesting post Jon, I bet you worked twice as hard for that extra that they honoured.

    Banking does seem to have become so impersonal over the years. 20 years ago in my local branch of Barclays they knew me by first name. Today I am just a faceless person whose money they look after.

    It’s a shame there are no smaller banks. I hope your new bank looks after you better.

    • Thanks, Sarah. The trouble seems to be with the large companies who think they have “got us” because it is difficult to switch, or we don’t want to take the risk of something going wrong.

      A current Spanish bank advert makes me laugh because it says they know we need a good reason to change and then comes up with the offer of a £100 bribe rather than emphasising their great service. Perhaps we should commend them for their honsety if they know they can’t deliver that.

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