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Are You Still Frustrating Your Banking Customers to Save a Few Pennies?

By Jim Bruene on March 12, 2010 12:32 PM | Comments (1)

image Have you ever had a flat tire because you forget to look at your tire pressure? I have, more than once, but not since I installed these handy little valve caps with the "green is good to go" visual signal. And they only cost about $6 per set.

Not only do they save you from the hassle and cost of a flat tire, they could save hundreds of dollars over the car's life with better fuel economy running on properly inflated tires. And flat tires on the freeway are a serious safety issue. 

This begs the question: Why don't car companies install these on all cars (note 1)? Is it really worth the potential thousand-dollar cost to your customers to save a buck or two in the manufacturing process? 

Relevance for Netbankers: What things does your financial institution do to save a few pennies that could end up costing your customers similar financial pain?  Here are my three pet peeves:

Rant over. Have a great weekend.

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Note: Yes, I know that higher-end cars have tire-pressure idiot lights. And I'm sure there engineering-related costs and liability issues makes the price tag bigger than an outsider would imagine.

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Great points Jim. If offering 'text message' comm, the bank or CU would obviously need an opt-in program. Do you think customers or members would offer up their cell #s? If the program is clearly designated only for emergency comms, people may feel somewhat comfortable. Others may be too wary of opening up another channel for advertising. If I received an emergency text from my bank or CU regarding my $, I'd want to talk to them right away. I'd be happier if they just called me in the first place or left a message. That's just me. With opt-in, everyone's happy. Got me thinking though. Thanks.
@Dan_Rosenfeld

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