Can Citibank’s Customer Experience Be Saved?Posted by Luis Serpa on September 4, 2006 - 2:40 AM
It all began when I received an offer to open the new Citibank e-Savings Account. Already a Citibank customer, I thought that this new savings product with 5% APR would fit me perfectly.
I went online but couldn’t find any way to sign up through my internet banking account. So I called my account manager to see what I was doing wrong. She told me that my account wasn’t considered a domestic account and, as such, not eligible for an e-savings account. To qualify, I should open a new checking account.
I explained that this account is a remnant of my wife’s relocation benefits package and it is linked to it several other Citibank products (investment brokerage account, CD account, normal savings account, credit cards, bill payments, etc). Reconfiguring everything to a new checking account would be a tremendous hassle. I mentioned that I could easily open an e-savings account with several other institutions and link it to my current one with no hassle.
My Citibank account manager’s opinion? I SHOULD GO AHEAD AND DO THAT!
I wanted to prove myself a loyal customer, so I reconsidered opening a new checking account. To my surprise, I found out that with my balance, investments etc, I was entitled to a more beneficial financial package than I have with my current checking account.
Of course, instead of being happy I am now very upset.
What did I learn?
1. I am a better client than I knew but never got any recognition.
2. They seem to value the acquisition of new customers over retaining the current ones.
3. They are willing to let me go to another bank without even trying to accommodate my needs
4. Their internal bureaucracy and inconsistencies are getting in the way of a good customer experience
So, now that I know I am more than they deserve, what do you think I will do?
*see original post at Customerspective
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