Wednesday, 2 November 2011

Do the Banks see us as commodities?

Not long after Egg set up its on-line banking service I signed up for an account. At one point I had £50,000 on deposit and moved an average of £2500 through its credit card. I even used their equity/stock on-line trading system.
Since then Egg has been dismembered and the parts sold to different financial businesses. There's no consultation with the customers we are just transferred to another business as though we are some kind of inanimate object or chattel.
Excuse me but being a customer is a two way process! Just because another bank/financial company now owns that service there is no reason why I should continue to business with the new owners. My cash deposits have moved, so has the share trading and my credit card is rarely used.

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