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CD rates not for everyone?
Old 11-19-2007, 08:47 PM   #1
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CD rates not for everyone?

I went to the bank today to cash a check, and decided to drop by a clerk's desk to check on cd rates. This particular clerk knows me by name and told me they just got some new rates in. He then asked if I would like a copy of the memo...I said sure, took it and left.

When I got home I saw that this was indeed a memo to the bank employees (from the main branch) and it gave the details on the cd rates. At the end of the memo, it stated, "Please be sure your staff understands these rates are to be used as necessary, and are not to be given to every customer".

Now, I've been around the block a time or two and I know that not everything is fair, but how can they do this and why on earth would he give me a copy of this memo? :confused:

Inquiring minds want to know.
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Old 11-19-2007, 08:52 PM   #2
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I think it's a ploy so you think your special and getting something few other people will get.

Just a sales gimmick if you ask me.
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Old 11-19-2007, 08:57 PM   #3
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Welcome to the world of retail -- where everything is negotiable, but they're betting that you don't.

Here's how you can negotiate higher deposit yields - MarketWatch
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Old 11-19-2007, 09:09 PM   #4
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maybe he had not read the memo yet? Id be tempted to make a zillion copies and post leave them all over the lobby, but wouldn't want to get the clerk in trouble....I bet the rates were lousy anyway.
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Old 11-19-2007, 09:10 PM   #5
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Good point 73 and great link Twaddle.

We've been customers with this bank for about 13 years and have a little over $100k in cds. The past couple of years I've gotten crabby with them not keeping up with other banks and they (for the most part) have given me what I want.

Crap on a cracker....it's getting harder and harder to make a buck.
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Old 11-19-2007, 09:12 PM   #6
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Quote:
Originally Posted by jazz4cash View Post
maybe he had not read the memo yet? Id be tempted to make a zillion copies and post leave them all over the lobby, but wouldn't want to get the clerk in trouble....I bet the rates were lousy anyway.
Just read your post!

Hubby wanted me to mail it to the local newspaper. I think I'll keep it a while for sh!ts and grins.
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Old 11-19-2007, 09:19 PM   #7
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Trust me Jazz, the clerk read the memo.
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Old 11-19-2007, 09:28 PM   #8
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I have regularly negotiated higher CD rates, thought that's become more difficult in the past few months.
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Old 11-19-2007, 09:41 PM   #9
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I have regularly negotiated higher CD rates, thought that's become more difficult in the past few months.
Went down to a local bank 3 different times with SIL to deposit some of MIL's money in CD's, or to rollover some maturing CD's.

The branch manager there showed us what everyone else in town was offering that week of each visit. What rates, what maturities, and what minimums required if any. She offered to match any rate/maturity the competition was offering. I pretty much knew her info was on the up and up as to competition offerings as I had already checked enough directly with the competes.

I commented to the SIL, the branch manager lady liked to play "Let's Make a Deal!"

Easy to do business with. I is a local area bank, not one of the biggies. Nothing like that service was available from a couple of the biggies SIL or I do checking with.
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