Today I invert this post so that the bottom part appears first. Begin reading here:
"?¦ Wells Fargo´s [Michelle] Scott indicated that the bank believes it’s doing customers a good turn.
“Our intent with this updated online access agreement was to simplify our process in response to customer feedback about receiving additional agreements when enrolling in each new online service,” she said.
But what happened was:
the bank has been swamped this week with calls from people who didn’t understand Wells’ intentions. Call-center workers have had to be briefed on how to handle the flood of complaints, the insider said.
If you want to alienate your customers, be as ham-handed as Wells Fargo was. Don´t give them any notice, just change your policies or practices, bury the wording in an 11,000 word user agreement and finally, don´t let them access their own d___n money until they accept the terms.
I´ll bet you that those who made this decision rarely, if ever, interact with the customers most impacted by this. Have they forgotten that their customers who deposit their money with them are, in effect, loaning Wells Fargo their money.
If your business must change policies or practices that impact the way customers interact with you, give them advance notice and time to adjust. While it´s difficult for people to end a relationship with a bank or credit union, I´m sure Wells Fargo lost many customers when they didn´t have to.
They are trying to generate more profits. But for those of you who compete against them, this seems to be a heaven sent opportunity to show that you value your customers. Especially you smaller banks who really rely on the human touch.
San Francisco Chronicle columnist David Lazarus reported on Friday that
Thousands of Wells Fargo customers received a rude awakening this week when they attempted to access their bank accounts via the Internet.
A box opened up on their computer screens seemingly declaring that if the customer wants to continue banking online, he or she has to agree to allow Wells Fargo to make all future communications electronically, not on paper.
Accepting this and other conditions then causes a second box to open, this time containing an 11,000-word document written in frequently thick legalese.