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NAB Exit Fees and Relationship Woes

Jeff — Wed, 16 Feb 2011 03:23:27 +0000

NAB gets out bed with other banks…but for how long?

Well for years there was the suggestion that major Australian banks were in bed with each other…so I guess they finally acknowledged this, or at least NAB has. Well seems that like any relationship based on sex or money, things have gone sour!

Aussie bank giant National Australia Bank, has taken the bold step of paying (what?? paying? this is incredible!) the exit fees for those customers who switch their home loan to NAB. Appropriately (or perhaps inappropriately) this campaign was launched Valentines Day.

Shortly after, rival bed mate banker, Westpac announced they will “abolish” their exit fee. I like NAB’s description of “paying the exit fee” rather than Westpac’s of only abolishing the fee.

Sigh.. such is the life of a romantic bank.

Say, wasn’t the Federal Government moving to have these fees abolished anyway?

Weblinks:

http://nab.com.au/breakup

NAB helps fight unfair banking…uh oh!

Jeff — Fri, 05 Feb 2010 06:49:13 +0000

Australian bank, NAB ( National Australia Bank) has recently been using these mini billboards with the catch phrase of: “Sign up to fight unfair banking”.

Above: The original sign. NAB was asking for trouble when they put this up. Too many negative words.

However, I suspect the sign below is what really comes to mind for most people when signing up to a new bank…

ANZ Bank Billboard Gets Done

Jeff — Mon, 14 Dec 2009 10:37:46 +0000

Spotted in in Perth Australia

Aussie bank, ANZ was really asking for trouble with this recent plain looking billboard.

Shouldn’t it read like this!!:

Good Old Fashioned Banking Returns to Albuquerque

Jeff — Mon, 16 Nov 2009 17:21:10 +0000

Photo Credit: cjc4454 (Flickr)

This billboard for the Bank of Albuquerque was spotted in Albuquerque, New Mexico USA in April 2009.

As pointed out by the photographer… Bank of Albuquerque is doing a complete turn around in banking services… opposite to what most other banks are doing by promoting itself to older clients who prefer to speak to a “live banker” rather than doing business online or with some automated phone system. Even the old style phone gives the impression the “good ol’ days” are back.

With the trend towards streamlined electronic services and a reduction in personalized service, Bank of Albuquerque is making a clear distinction between itself and its competitors.