Why is it that highly paid bank executives have cognitive issues? Let's take a walk through logic land and see how big cheese bank executives arrive at the $5 debit card fee.
*Damn banking regulations no longer allow us to charge ridiculous rates on Credit Cards and other accounts.
*Let's take advantage of a loop hole to make up what we lose by charging $5 for the use of a debit card.
*It doesn't matter that we would be the only one doing it because our customers are so pathetic that they will just pay it and stay with us.
*Make sure we don't consult anyone that will disagree with us because we are much more intelligent than everyone else.
Of course this is not exactly what they say it is a much more convoluted process. There are studies and spreadsheets and analysis that go into all this. The problem is they are just using it to justify what they are going to do anyway. It just makes it look good. Here is the simple logic that almost always eludes them.
*Why would our customers pay $5 for something they can get for free anywhere else, DUH?
You have to know that someone said that in a meeting and that person was blown off and labeled "Not a team player".
*Damn banking regulations no longer allow us to charge ridiculous rates on Credit Cards and other accounts.
*Let's take advantage of a loop hole to make up what we lose by charging $5 for the use of a debit card.
*It doesn't matter that we would be the only one doing it because our customers are so pathetic that they will just pay it and stay with us.
*Make sure we don't consult anyone that will disagree with us because we are much more intelligent than everyone else.
Of course this is not exactly what they say it is a much more convoluted process. There are studies and spreadsheets and analysis that go into all this. The problem is they are just using it to justify what they are going to do anyway. It just makes it look good. Here is the simple logic that almost always eludes them.
*Why would our customers pay $5 for something they can get for free anywhere else, DUH?
You have to know that someone said that in a meeting and that person was blown off and labeled "Not a team player".
