Why Banks Don’t Care About Their Customers

by Jim Smith on August 24, 2010 · 3 comments

A friend of mine recently received the attached letter from Key Bank. It appears that he kept some small change in a checking account at this bank and because the account had no activity for the last year the bank is threatening to charge the account a $5.00 inactivity fee every month. To prevent this from happening he needs to sign this letter and return it or make a transaction or keep a minimum of $5000.00 in a checking account that pays no interest.

So my friend decided to get some revenge and he paid a visit to a small branch of this bank with a bag full of all the pennies, nickels, dimes and quarters that he had emptied from his pockets for the last couple of years. After showing the letter to a customer service manager who claimed to have not seen it before (as usual, the corporate types operate in a vacuum) and after telling the manager that he was going to get the letter posted on the Internet, he requested to comply with the terms of the letter and to deposit the change he had brought. He chose a small branch because they don’t have a counting machine and the teller had to manually count the deposit. Poor thing, she is still counting, this has cost the bank hours of her time, a very unhappy customer plus all of this negative publicity.

Was it worth it KeyBank?

If your bank is playing this kind of game with you, perhaps you want to get a little revenge. Let me know what you did.

{ 3 comments… read them below or add one }

Elizabeth Bertani August 24, 2010 at 9:43 pm

Excellent piece on why banks don’t care about customers. Last evening, I watched a documentary titled “Maxed Out” which follows the travails of ordinary people who were fucked by the big banks.

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ynot August 24, 2010 at 11:26 pm

Thanks Elizabeth. Too often we just let them do it to us without thinking of ways to get back at them. We just need to be creative and share our successes and soon they’ll start paying attention.

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dafnadigs August 11, 2013 at 12:01 pm

Oh this is good stuff!

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