Of effectiveness
December 3rd, 2006I seldom get annoyed of things, but uneffectiveness really pisses me off in so many ways. I mean if you do something, do it well. Today’s irritator was an article from HS. Research has shown that Finns don’t check their loans with their bank once the interest rates have come down. 58% of people hadn’t re-negotiated their loans after they took it. Also, over 50% were unable to name their loan margin.
Damn, this sort of stuff just annoyes me. It sort of goes against the fact that most people run after the cheapest groceries, but neglect the single most thing that could save them tens of thousands of euros.
Feel free to read on with some related posts:
- Thank you Nordea, and goodbye
- The joy of closing your bank account
- Cartoon at loss
- Made it!
- Photos from the demonstration
Well, I think that’s very normal and understandable. People tend to avoid things they don’t feel themselves familiar and comfort with - the bank loan is definitely one of those. The fact that the Finns also feel it somehow humiliating to be forced to take a loan certainly doesn’t make things any easier.
What annoys me about it is that the banks don’t voluntarily offer to lower the marginals, even by a little. Sort of like mobile operators who should at least recommend a cheaper data plan to a user who’s using a lot of data and still paying the default 5eur/MB of his/her traffic.
Sure it’d be against their interests of making more money, but it’s also ripping off customers - which is just mean. Plus it might pay itself back by increasing customer loyalty; something that companies all too often neglect to see is that doing to right thing pays off even financially most of the time.
Antti, I almost fully agree with you. In an open market economy the customer should rule. Qtea, however, also has a point. Regarding the short history of open competition in the Finnish banking sector and the legacies people have toward personal banking, I am not surprised about the poll results referred to.