fresh50 logo
  • Information Services
  • Health
  • House and Home
  • Products and Services Reviews
  • Business and Finance
  • Online Business
HomeInformation ServicesBanks across the Country Have Reinvigorated Focus on New Accounts and the Fees Along

Banks across the Country Have Reinvigorated Focus on New Accounts and the Fees Along

October 13, 2016 Admin Information Services

Retirement AccountEconomic improvements continue to circulate in a positive light following the recent events in the EU’s infamous Brexit vote and the Australia-China mortgage industry scuffle.

In effect, grants for group homes and even the focus of bank account grants have ultimately redirected back to where they belong; to first-time bank applicants and the rest of the dominant generation.

According to Newson6, “Once customers open a basic savings or checking account, banks give them the hard sell to sign up for even more, whether that’s a credit card or a mortgage or a retirement account.”

While the general idea about the current cross-selling tactics of banks is subject to debate, there is indeed a positive value in giving opportunities to a broader range of clients.

But Like Everything Else, Proceed with Caution

No matter the state and prevalent banking firm, no one can tell in good faith that the funding industry will always be out for the best interest of local clienteles — so as long there is profit to be made.

Specifically, this has been proven by the scandalous discoveries in the Wells Fargo international fiasco where it was revealed in a Senate hearing that the financial giant opened and moved over 2 million accounts of its customers without telling them.

The Entire Industry under Fire

On the surface level, moving customer credits and bank accounts isn’t as harmful as having a local bank robbed dry. Cross-selling, in a sense, is the true face and the core of the industry. Without it, progressive growth won’t be possible or at least fast enough to compete with the international trade.

For this very rationale, Wells Fargo plans to take down the entire industry if they alone will suffer the fall.

Outlying Desperation

Based on the survey by CG42, “roughly 40 percent of Wells Fargo customers asked said their No. 1 complaint was employees’ constant pushing of products the customers did not need or want. But customers at other banks made similar complaints. Of Bank of America customers, 31 percent said they felt overly pressured for products they didn’t want or need. At both Chase and Citigroup, that figure was 27 percent.”

With all these facts in mind, it’s been made clear and reiterated that banks are businesses. Having a clear understanding of the risks is tantamount to responsible financial gains or losses.

  • Bank Accounts
  • retirement account.
Previous

Characteristics of a House that Impresses Guests Without a Doubt

Next

Allergy in Bed: Preventing Dust Mites

Search a blog

Great Office Furniture
Featured Blog

Stylish and Comfortable Furniture Boosts Productivity

Every piece of furniture in the office plays an important role in boosting productivity and possibly even discovering employee potential. [...]

Latest Blogs

man using a sticky notes for productivity
Business and Finance

Tips to use technology to increase your productivity in business

January 28, 2022

There are many ways that you can use technology to increase your productivity in business. For example, you can use a calendar app to keep track of your appointments, or a task management app to […]

Why Visual Content is a Marketing Must-Have
Business and Finance

Marketing Offers that Bring In Customers

January 27, 2022

Marketing is a process that is used by businesses to get their product or service in front of potential customers. There are many different types of marketing, but some offers are more effective than others. […]

graph of stock prices increasing and decreasing
Business and Finance

How to Invest in the Stock Market with Little Money

January 26, 2022

As the stock market continues to grow, more and more people are flocking to it. They see that investing in stocks is a great way to make money while they’re not using their money for […]

Categories
  • Architecture and Landscaping
  • Business and Finance
  • Computers and Software
  • Education and Training
  • Events and Parties
  • Health
  • House and Home
  • Information Services
  • Legal Adviser
  • Online Business
  • Products and Services Reviews
  • Telecommunications
  • Tourism
  • Travel
fresh50-logo-white
man using a sticky notes for productivity
Business and Finance

Tips to use technology to increase your productivity in business

January 28, 2022

There are many ways that you can use technology to increase your productivity in business. For example, you can use a calendar app to keep track of your appointments, or a task management app to […]

Contact Us

    © All Rights Reserved. Fresh50. 2021 | Privacy Policy | Sitemap

    Go to mobile version