My open letter to the NAB

bemybubble on 20/02/2014 - 10:38

So I finally snapped. Posted this on their FB page and low and behold still no response. Meh time to spread the word!

An open letter to the NAB,

Well after 20 years of banking with yourself on a personal level and 40 years of banking on a family level we have officially shifted banks. A build up of distasteful experiences with yourselves especially over the last 5 years have been the driver for this to happen.

Can't help but say our family is quite saddened as it is the end of a banking era for us, but as Sammy Newman once said "don't cry for something that won't cry for you". So I guess that means I shouldn't be sad as the reality is your institution doesn't care about us.

I should also point out that my family and I are public accountants by profession and have regular dealings with the NAB through clients of ours and it is also through these dealings that I am disgusted with the some of the treatment and dealings with them.

Without rambling on I will share a few experiences which have lead to us jumping ship:

  1. Lies - I have never in my life come across the biggest pack of liars in my entire life. When you ask your business banker if something can be achieved or not they will tell you what you want to hear because they are afraid of saying no. This is completely and utterly unprofessional and unethical.

  2. Incompetence - I had a client call me to explain he had not dealt with his business banker in over a year and his commercial bill facility was up for renewal. He was so angry with the fact no effort had been made to take interest in his business that he asked me for contacts in other banks as he had enough.

Although his mind was already made up in moving institutions I decided to ring the NAB and give feedback in regards to what had happened. In response I had his business banker(old) call me up and ask me if this particular client wanted their commercial bill facility renewed. Seriously? That's like me ringing the banker to ask if the client wants his tax return completed! He was too scared and incompetent to even ring the client because he knew he was in the wrong.

  1. Negligence - For the last few years we have been chasing a title for a property we own so we could on-forward it to our new banking institution. We knew it only could have been with one of 2 places. 1. Our Solicitors or 2. Our Bank.

After constant requests to the bank who repeatedly denied having it after 'searching high and low' we started the process of apply for a new title through our solicitors. Today we received contact from the bank to say that the title was found once they were cleaning up our file for post settlement of us moving banks. And to add insult to injury our business banker even admitted that it wasn't properly searched for by their team. So in other words, your employees couldn't be bothered looking for it.

To be honest I cannot see this being read to the value of which it should be, but I figure as long as this is on your page for people to see maybe it will make people think twice about banking with you.

Financial

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

Comments

  • Unorthodox on 20/02/2014 - 11:30

    The customer service reps on Facebook will have no power in regards to your concerns.

    At best I've seen them link you to a feedback/complaints page on their website.

    If you have proof of something NAB has done, you could mock them on Facebook and hope to get a load of likes/shares.

    • bemybubble on 20/02/2014 - 12:00

      Good thinking. Pity it's all verbally in person or through phone conversation :/

  • Moderatorscotty on 20/02/2014 - 11:32

    Just a note (as a moderator) that threads posted in Off-Topic is only visible to logged in members so it's not really that open. Do you want me to move this to the Financial forum?

    • bemybubble on 20/02/2014 - 12:00

      Sure, why not Scotty

  • p1 ama on 20/02/2014 - 13:18
    +5

    This is a complaint towards a particular set of people who work for NAB, especially one particular business banker. I don't know if it reflects the NAB in general or whether you are just looking to get back at them because they have wronged you.

    To be honest, I just think you are unlucky. No matter what bank you go to, you might have dud employees. What exactly have you done to ensure that this doesn't happen in the future, apart from complaining on their FB page where you're likely to get next to no attention.

    • bemybubble on 20/02/2014 - 13:37
      +4

      "This is a complaint towards a particular set of people who work for NAB, especially one particular business banker. I don't know if it reflects the NAB in general or whether you are just looking to get back at them because they have wronged you."

      People are what make up an organization. It still is a reflection of the company they work for. Reflects the NAB in general as obviously no duty of care has gone into all complaints referred onto a local level from somewhere more senior.

      Edit: also i should point out this doesn't reflect just one business banker. All 3 points relate to 3 separate employee's.

      That being said had a recent case where the so called 'head honchos' of Melbourne got involved with a client file. As their accountants we left multiple messages with this manager and not 1 call was ever returned.

      "What exactly have you done to ensure that this doesn't happen in the future, apart from complaining on their FB page where you're likely to get next to no attention."

      Leaving after such long term clients of the NAB you would think they would give some sort of interest. However not one eyelid was batted once we left, so if that doesn't get there attention then I know nothing else will… To be honest I've been in the game long enough to know nothing will likely happen. However I'd rather air dirty laundry in their backyard than mine. Plus it's a good way to vent :)

    • arend on 20/02/2014 - 19:33

      Nope, it's the organisation.
      (My family have had similar dealings with NAB in Dubbo)

  • nevbuster on 20/02/2014 - 13:58

    Who did you move to. Not sure the other banks are any better ? Banks on concentrate on where they can make the big margins, not simply to keep customers happy. I think they accept that churn is part of the business and for every customer they lose, they will attract another all making big fat fees in the process.

    • bemybubble on 20/02/2014 - 14:28

      Move to westpac. Moved purely on the the basis of rate and not customer service. You're right that the other banks are not better. It's all about new business, not old…

      At the NAB I was on a variable rate of 5.18%…I got 4.79% at Westpac and not having any previous business dealings with them. Sad that loyalty is not a factor any more :(

      • _Bruce_ on 20/02/2014 - 15:18
        +3

        Sad that loyalty is not a factor any more

        This is true of most businesses, it doesn't make sense to give discounts to the customers you already have. Particularly true in any area that has a barrier to change providers like banking and insurance.

      • xsacha on 21/02/2014 - 11:24

        When was it a factor? It's bad business to treat your loyal customers better than new customers. That's how you get lower % profit figures reported on the news.

        • bemybubble on 21/02/2014 - 12:01

          That's jaded and misleading. Lower profit based on what timeframe? Over the long haul you win hands down. It's that kind of thinking that's dangerous…

  • _Bruce_ on 20/02/2014 - 15:17
    +2

    My person experience with NAB was also very bad. I've had hit and miss service from different banks, but the one that blew it from NAB was their complaints department. They never returned calls and did nothing to help me.

    Only when an official complain to the TIO was filed did my issue magically get solved. Very unimpressed.

    • kipps on 05/07/2014 - 17:24

      You complained to the Telecommunications Industry Ombudsman about NAB? Don't you mean FOS?

  • DrStinge on 20/02/2014 - 16:39

    I think it's a little harsh to judge NAB on the service of three people; as of 2011 NAB employees 44,000 people (Wikipedia). I would certainly be unimpressed by their service but if twenty years of banking with them should of taught you anything it's that corporations show no love to the loyal and that morons can get jobs too.

    • _Bruce_ on 20/02/2014 - 16:59

      I agree, but for me what tipped it is that their complaints department was so bad, surely if you are going to have customer service anywhere it should be there.

    • bemybubble on 20/02/2014 - 17:09

      Agreed, there are good apples that do work in there.

      "if twenty years of banking with them should of taught you anything it's that corporations show no love to the loyal and that morons can get jobs too."

      Wasn't always like this. Our relationship with the nab was quite strong. In fact they cared and that's why they always won business from clients we referred. Seems now it's all about 'title' and wearing suits and looking the part. They do not groom bankers like they used to…lack of experience is a big concern not just with NAB but with all institutions.

    • [Deactivated] on 20/02/2014 - 17:36

      I've been with NAB for a few years. We're in the process of moving.

      Their level of service at the Branch (I'm talking flagship branches in Melbourne) & Call Centre and even customer service is quite bad and often down right incompetent. I've even had a complaint escalated without any action. So I wrote to their CEO as a shareholder & customer to express my concerns and asked for a response, twice. None have been forthcoming. I did suggest in my second letter that maybe the problem is at the top as business culture filters down from above.

      CBA seem to be pretty good with customer service (Branch & Call Centre), that was because Ralph Norris's bonus was directly linked to customer satisfaction. Bank of Melbourne staff seem to fall over themselves to make you welcome when you go into a branch ( I haven't dealt with their call centre - but I believe they give you the number of the local branch for customer service anyway).

  • [Deactivated] on 20/02/2014 - 18:05

    Concur with Bruce, above, in relation to complaints departments and how they reflect on businesses as a whole.

    Yes, the people who work in them often have to deal with alot of very aggrieved people, with complaints of various import, but how they respond to each individual should justifiably be taken as a reflection on the culture within the organisation as whole.

    Poor personnel choice, compounded by lack of oversight, is rife in Australian business.

    I had a particularly unpleasant incident with Woolworths customer 'service' a couple of years ago that evolved into a multiple email and phone calls situation.

    Crusty woman who almost certainly had been promoted through from store management level to national, and had no doubt 'seen it all'. Jaded. Attitude. Undertone in the voice.

    Final washup for me was ensuring that our household shopped for the next couple of years - at Woolies, online and instore - as infrequently as was convenient for us. Something we still do this day, at least to a degree.

    Many thousands of dollars in lost sales from our household alone, and counting.

    • p1 ama on 20/02/2014 - 20:33
      +2

      But this is the very reason why the businesses don't care.

      They are all equally as bad. So during the time that you've stopped shopping at Wooltworths, there have probably been other customers who have moved there as a result of bad experiences with another chain such as Coles.

      Same thing with banks, NAB don't particularly care about losing you because they're getting other customers from other banks every day, so unless someone comes along and offers a genuinely better experience, it'll just be going around in circles.

  • nevbuster on 20/02/2014 - 21:11

    I was with Westpac and there service is diabolical. I won't even go into some of the stories about how bad they were, but changing banks was a major pain but I had to do it to get away from them. Now with ANZ, they are not great but better than Westpac.

    • bemybubble on 21/02/2014 - 08:32

      Service anywhere is cactus. Actually the only ones I have come across with decent service is the Bendigo. Pity their rates aren't competitive for residential.

      • p1 ama on 21/02/2014 - 08:41

        Well that might explain a few things. Everyone wants great service but nobody wants to pay for it.

        That's just competition driving down service to reduce costs.

        • bemybubble on 21/02/2014 - 08:46

          Not entirely true. As I said Bendigo are competitive commercially. Besides it's not about great service, it's about getting any service at all!

        • Noblejoker on 21/02/2014 - 14:19

          I am very happy with the service from our local Bendigo Community bank
          Rates were competitive too after they waived some fees etc the difference was nothing
          They call me if I write a chq and have insufficient funds - then clear it at no charge when I say I will be in tomorrow to deposit
          The tellers know us by name and are very friendly and they give donations back the local community
          I think each Community bank is a franchise so YMMV
          Overall we couldn't be happier with Bendigo Community bank

    • [Deactivated] on 22/02/2014 - 18:57

      Maybe it depends on the branch.

      I've dealt with 2 Westpac branches for business banking.
      They have gone out of their way to give good/ attentive service.

  • hdew47221 on 21/02/2014 - 08:53
    +1

    I had exactly the same issues with NAB (so it's not just you). We had used them for our business since it started because at the time I personally banked with NAB so it seemed logical.

    Moving banks is a huge thing (with lots of inconvenience having to tell all the accounts payable teams that pay you about the new details) plus prove the company is yours and get all your directors to personally sign forms in branches. NAB was so bad we ended up going down that route.

    The largest issue we had was around a new account that was set up for us that we subsequently transferred some money into to accrue for GST had a stop put on it for no reason. Then we chased around different parts of NAB for about 3 months trying to get someone to release our money back to us so we could pay the ATO. We ended up getting no response until we wrote on facebook which started the 'escalation' but it still resulted in no result for over a month. In the end we threatened that we would complain to the banking ombudsman if it wasn't resolved by COB and it finally got resolved within an hour. Pretty crippling having money tied up when you are a small business and cash flow is tight. If you have ongoing issues I recommend you complain externally upfront to save yourself a lot of frustration.

    We have since moved to CBA and they are really great to deal with. They have centralised customer service so you don't get parts of the organisation blaming other parts for issues. At CBA you have one contact and they do whatever needs to be done behind the scenes to fulfil your request. At NAB we were being told to call different sections because they couldn't help us.

    The other key thing we have noticed is the product mix. At NAB they have business payments card which is a debit arrangement but you need to constantly load up money on the card which sits in a separate account. With CBA they just give you a debit card that linked to your cheque account - so much easier to manage because you aren't constantly worried about the balance.

    After a period of time running dual banking we are now at the point where we will be closing our nab accounts. Even to do this I was advised that I would need to call the call centre in regard to the payments card and then visit a branch to close bank accounts. It is almost like they try and inconvenience you.

    Anyone out there not happy, I'd recommend moving to CBA.

    • [Deactivated] on 21/02/2014 - 09:13
      +1

      "..Moving banks is a huge thing (with lots of inconvenience…"

      That's what they count on.

      • bemybubble on 21/02/2014 - 09:18

        It's taken 12 months to shift from NAB to Westpac… biggest pain

    • _Bruce_ on 21/02/2014 - 10:00

      In the end we threatened that we would complain to the banking ombudsman if it wasn't resolved by COB

      When I threatened them with this they did nothing, and still didn't even return calls. Only when I actually filed the complaint did it get fixed.

      • NancyCat on 22/02/2014 - 08:37
        +1

        Same here. We had problem with our NAB credit card once, for 4 months, we called them many many times, email them, sent them letters by post, then sent them letters via registered mail to 4 different departments… still nothing happened. We gave up, and lodge a complaint to the Ombudsman. Few days later, NAB called…"Hey, the Ombudsman contacted us (NAB), what's the problem? How can we help you?" WTF???

  • [Deactivated] on 21/02/2014 - 09:29

    If there's a matter that you want resolved as well as just letting NAB know that you're peeved with them, and you can't resolve that matter with their complaints department - talk to the Financial Ombudsman Service and see if you have grounds to lodge a complaint with them. FOS: 1300 78 08 08.

    • bemybubble on 21/02/2014 - 09:36

      Trying to defuse a bomb that has already exploded unfortunately.

  • cat06969 on 21/02/2014 - 09:33

    I support your cause Buddy 100%. But pragmatically, and in all honesty, big business couldn't care two shits about who you are, and our western governments perpetuate this to keep us all perfectly financially oppressed and in place. But like I say - I support you 100%. Good luck.

    • _Bruce_ on 21/02/2014 - 10:02

      What does this have to do with government? And are you suggesting that 'non-western' government models result in companies that don't have this problem?

      If anything the financial ombudsman does a great job in fixing these issues, as people have mentioned.

    • p1 ama on 21/02/2014 - 15:34

      Do you even politics mate?

  • [Deactivated] on 21/02/2014 - 09:49
    +1

    I recently had a great dealing with NAB and outstanding customer service. Even sent through a compliment on their website. Sometimes it just helps to talk to the right person.

    Lowest home loan rates of the big four.
    Market leading rates with online savings via uBank.

    It is hard to go past NAB.

  • jenawabz on 21/02/2014 - 10:44
    +1

    I think they're just too busy sponsoring the footy to care about the average Joe.

    • Speckled Jim on 21/02/2014 - 12:15

      ^
      This.

      Even the weight of class action won't deter the thieving mongrels.
      They'll just cook up a new ad campaign in response.

  • Daabido on 21/02/2014 - 13:43

    Smaller banks are not necessarily better. I had a difficult financial dealing with a partner and a bank account. And after having had to luck at a local level, I wrote to the then CEO of Bank of Queensland twice over a couple of weeks. I did get a return call from one of his staff, telling me (not asking but telling me) not to write to the CEO anymore. I was shocked. I thought, I will write to ever the hell I want to, you stuck up little ….

    The next week I saw the CEO on the news arriving at BOQ headquarters in his very, very expensive Porsche. It doesn't matter if you have been with the same bank for more than 20 years, as I had. It's all about the money.

    • bemybubble on 21/02/2014 - 13:57

      Unfortunately the BOQ isn't like the other banks. It's actually a Franchise so I would say the chain of command works differently :/

    • cwongtech on 22/02/2014 - 02:21

      The next week I saw the CEO on the news arriving at BOQ headquarters in his very, very expensive Porsche. It doesn't matter if you have been with the same bank for more than 20 years, as I had. It's all about the money.

      It always has been about the money. It's a bank…

  • Lancerx on 21/02/2014 - 16:03

    just on the latest NAB 0% balance transfer CC alone, I had to wait 3 weeks before they get to my application, and 2 weeks on still no reply after emailing them the doc required. Their 1300 number is even more ridiculous, I think i called more than 5 times to check on the progress on application, and NEVER got through once with hold time like 30 min or more..!!!

    • [Deactivated] on 21/02/2014 - 16:53
      -3

      so you are furious because they are not rushing to take your debt at 0%? They are just hedging the fact you will not repay it all in time anyway.

      • Lancerx on 21/02/2014 - 16:59

        not furious, just find the service so appalling! I had dealings with so banks, usually CC application done in a week. The recent experience with NAB just ridiculous! And don't you worry about my finance, I know what I'm doing.

        Well, they're trying to sell their products by taking my debt at 0%, not my fault now to take advantage of it isn't it? But at least be more competent when trying to get a new customer..Yes first time CC with NAB, and probably last when the offer finish ..

  • Scrooge McDuck on 22/02/2014 - 10:33

    I've learnt in my dealings with services to assume that everyone I talk to is incompetent and slack.

    This means that I record every conversation and when there is a problem I threaten external action early.

  • dlakers3peat on 22/02/2014 - 11:57

    I have dealt with all 4 banks with various loans from each and without a shadow of a doubt westpac is the best from all 4. never had a problem with them and are easy to deal with resolving problems. the worst would be cba. they are in also incompetent like NAB. ANZ are somewhere in the middle.

  • timetoquit on 22/02/2014 - 15:27

    I was in a similar situation as the OP. Family business and the level of incompetence was just terrible! I could probably write just as much as him but I'm over it, moved on, and now try and make them work harder for my money.

    After being with NAB for 15 years I made th switch to ANZ. Was a pleasant surprise at the beginning! As soon as the honey moon period was over, I thought wtf serious again??!!! These "so called" business bankers were really that hopeless. As many have also mentioend, they are all the same it's jus whoever has the best deal at the time. Even till this day 3 years later I'm not even on the right package with ANZ but I don't care cause I don't use their shitty credit cards so it's a win for me.

    I continue to bank with ANZ for business only as their merchant rates are a slightly more competitive, and the break- costs are not worth another switch. We have larger investments with CBA and tiny deposits with NAB. Haven't considered Westpac yet, not sure if I need to take anymore phone calls from banks trying to sell me their income protection bs.

  • IMBI3 on 22/02/2014 - 21:12

    I was once told, bank bashing is a great Australian sport

    • bemybubble on 24/02/2014 - 14:11

      Where can I sign up? :P

  • citybargainhunter on 22/02/2014 - 23:24

    I find Bankwest's service very good. NAB isn't too bad but I only use it for personal banking.

  • bemybubble on 01/07/2014 - 14:13

    Just in.

    Just switched from Westpac to Bendigo. Westpac did the dirty on us :/ promised us all offset accounts and then advised us that we couldn't…

    Also my brother had a development he was doing, westpac took 1 month to approve after mucking around whereas bendigo took 2 days. Just can't win when it comes to the banks unfortunately :(

  • bulletproof on 05/07/2014 - 17:16

    Good o for providing the feedback. If enough people complain they might do something to fix it.

    On a personal front. I would be popping champagne and celebrating the day a client like you finally refinance. Finally got the hint! Sorry, not sorry.
    That is all.

  • bemybubble on 25/11/2018 - 05:34
    +3

    Reflecting back on this after the royal commission. Long time coming one would say

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