Bank of America and the good Chase
I hold a Bank of America credit card and was recently contacted by the BofA fraud department to verify some activity on my card. I wouldn’t say that the charges they wanted to verify appeared to me to have fraud red-flags all over them, but that doesn’t bother me so much. Unlike some Chase stories I’ve heard where people’s credit cards become useless because Chase puts a fraud lock down on them that becomes hard to remove, BofA raises fraud alerts sparingly and gives me some time to respond before locking the account. They also contact us via multiple phone numbers and email, rather than relying on just one contact method.
I’m not saying BofA is perfect, but this is one thing they seem to be doing well right now.
My point is that our discussions of Chase should probably include the things that Chase IS doing well. The reason I started this website was to effect Washington Mutual, and now Chase, to change for the better, hoping they would see the criticism in a positive light and use it to-fine tune their operations. From what we can tell, the only fine-tuning going on is to maximize profits. But perhaps we are missing part of the story, the part where people actually like and benefit from some of the things that Chase does well. What are those things?
We’d like to know.
Customer service, Fraud | admin June 14, 2010
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By coakl, January 11, 2011 @ 2:32 pm
If you are a fomer WaMu customer, the forced transfer to Chase does nothing for you.
Chase has done a lot more than just “fine-tuning.” It’s more like wholesale extermination of anything remotely WaMu.
And it was more than just to maximize profits. Chase has an image it wants to project. It’s a perverted, disgusting persona but they’re determined to imprint it on every employee and customer.
Chase was particularly angry about the anti-traditional bank image that WaMu used in its commercials. Chase badly wanted revenge on WaMu’s portrayal of bankers as clueless, naked old men.
One of the most terrifying things I’ve ever seen is what happens when a former WaMu assistant or full branch manager is sent to Chase’s manager training. It is pure brainwashing. They come out of that training as Chase robots, thoroughly drilled in perverted management. It’s sad and shocking when you know what they were like before Chase. Sometimes, I can see a little bit of their old selves peeking out. I wonder what they take after work in order to keep sane.