Thursday, February 4, 2010 - 9:33 AMBank of the Sierra
Lol, sounds like "Sean from San Francisco" might be an employee at this company or have a family member that works at it. I see this kind of stuff on Yelp and other websites all the time so it is easy to spot. Notice how he didn't address Essie's specific problem and just made a generalization about how great the company is? (While making a sales pitch I should add about the interest rate and how is better than your typical savings account). “Sean” says: “I do not agree with Essie. The bank provides 4.09% return on the checking account, which far exceeds my savings at Wells Fargo (0.5 %).” Essie said nothing contesting this. This is a classic sign: don’t address specifics of a person’s complaint, make generalizations about how great the company is, and pitch the products.
The reason Essie received the B.S. denial is because they make no money off savings accounts--at least not as many fees as they collect from debit and credit transactions from checking accounts. (Though I would recommend she verify her information with all three credit agencies and not just one). This is why they make stipulations about using your debit card so many times in a month to qualify for the 4.09%--something they can take away at anytime and likely will within a few months--so that it is worth it to the bank to give you that interest rate. But hey, if you can get a return from having one of these accounts, meaning the interest you receive out weighs the transaction fees you accrue from using your debit card (usually around $1.00 - $2.00 per transaction) then why not?
I, however, will not be doing business with a company that feels the need to have one of its goons pretend to be an actual consumer. I'd advise everyone to stay away from such shady practices.
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May 9, 2010
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