Ignorantium
More reactive than flourine. Funnier than boron.
It may look bad, but it sure is more expensive
Categories: Google+ Posts

Discussing this with +Cherian Abraham on Twitter. Trying to figure out the logic. 

Instead of just waiving fees for those affected by Sandy (and basically doing what all the other major banks are doing), Bank of America is requiring customers to call a toll-free number or visit a branch to have their situation "assessed" as to whether certain fees will be waived. Not only does that look bad compared to other banks, but it actually routes all those inquiries to higher cost channels. So it's a customer service and PR problem and it also increases costs. Nice.

Embedded Link

BofA Won’t Automatically Waive Fees for Customers in Sandy’s Path
Customers of major banks who live in areas that have been ravaged by Hurricane Sandy will catch a rare break from their lenders: Fees will be automatically waived on dozens of transactions.

Tags:

Leave a Reply