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Wells Fargo Leads In The Hard Sell

Monday, February 28, 2011 - 6:46 AMWells Fargo Bank
Have you been hit by a sales pitch at your last Wells Fargo visit? Wells Fargo happens to be one of the leaders of cross-selling in which they try to sell additional products to existing customers. Unfortunately, it isn't a leader in competitive rates and customer service. This Wall Street Journal article looks into their cross-selling strategy and how other banks are joining them:
Even as others rush to emulate Wells, the bank's strategy is facing criticism for the way it tallies its cross-sales, for the quality of the products it offers and the way it sells them customers.

4
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,017
1. Monday, February 28, 2011 - 8:55 AM
Ken,

Are you cross-selling subscritions to the Wall Street Journal?  The link to the WSJ article requires a subscription to read it.

 
3
StewieStewie56 posts since
Jan 18, 2010
Rep Points: 318
2. Monday, February 28, 2011 - 10:05 AM
I'm afraid we're going to see more newspapers adding pay walls.

Fortunately, there's still a way to read WSJ without paying. When you go through Google News, the full articles are shown. For this article, search for "Wells Fargo Hard Sell".
7
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,017
3. Thursday, March 3, 2011 - 9:40 PM
While I've never banked with Wells Fargo, it's hard for me to imagine a harder seller than Chase. Chase continually recycles a series of promotions ('picks up the tab,' 'double your deposit') in which only a personal banker can sign you up. Of course, he/she will then try to sell you every product Chase has to offer. Honestly, I've been to timeshare presentations that are less pressured. And heck, if you just speak with a banker, Chase gives incentives to the referring teller.

We accumulate vast amounts of checks & cash, thus branch visits are a must for us. While I embrace technology, it's not worth spending 20 minutes at Chase's new ATMs (as it continually rejects my cash) only to have to enter the branch, anyway because the ATM misread my checks.   
5
SouthwesternSouthwestern23 posts since
Jan 25, 2011
Rep Points: 98
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