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Old 03-26-2021, 09:50 AM   #41
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I'd make sure to go back into the bank and go full Karen on him the next time he pushes your buttons. Have a couple of good zinger lines ready that you make sure everyone hears. And if that doesn't work for sure I'd move everything.
I think the "zinger lines" and "making sure everyone hears" tactics are not the most effective way to eliminate the problem. Those types of things just spur on a true blue sales person. As others have already said, there's no need for emotion here. In fact, emotion just aggravates the situation. Just calmly tell him you don't want to be bothered with any sales pitches going forward. If he seems to sincerely agree and perhaps apologizes, there ya go. If he's still pushing back with statements like "I was just trying to help" and that sort of thing, just calmly mention it to the branch manager and it'll likely end.
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Old 03-26-2021, 09:55 AM   #42
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We did not switch banks.

What we did do was pull ever dime of our investments away from our bank of 30 plus years. Poor service, poor advice, high fees....etc

We still bank there....but only have a no service fee seniors checking account plus a safety deposit box. We even moved our HISA account to an on line bank that pays 3X interest.

They still keep calling...do we want a heloc, do we want this or that. We stopped answering their calls when their number pops up on our screen.
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Old 03-26-2021, 09:57 AM   #43
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I'd find myself a credit union and move there ASAP. Far less likely to try to sell you something you don't want.
Possibly. Although, the credit union I belong to (left over from my working days) is no better than my bank in this regard.

In either case, bank or credit union, it's a very competitive racket and they're all reaching out to find new revenue streams and sources of profit. So, the occasional sales pitch is to be expected until you stop presenting yourself as a target or learn how to handle sales folks in non-confrontational but quick and effective ways.
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Old 03-26-2021, 10:12 AM   #44
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We did not switch banks.

What we did do was pull ever dime of our investments away from our bank of 30 plus years. Poor service, poor advice, high fees....etc

What I've done is to seldom mix "investing" and "banking." I invest via my brokerage house. I bank through my bank. Any overlap is minimal.
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Old 03-26-2021, 11:31 AM   #45
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Could someone please enlighten me on why it would be such a big PIA to change banks ? ...
Probably different for different folks.

In my case the biggest hassle would be reprogramming the 30+ bill pay and automatic bill pay accounts. Utilities, doctors, internet, garbage hauler, etc. Undoubtedly some changes would get screwed up and require attention. I would also lose the payment history for all those vendors.

I bank at Schwab, so I would lose the overdraft protection I have by backing my checking with assets in one of our cash accounts. Transfers in and out of Schwab would take an extra day. Possibly I would end up with something weaker than Schwab's blanket indemnification against fraud. I rarely give vendors access to my checking but I know PayPal has it. Probably one or two others. So I'd have to change those.

Is that enough explanation?

And (gasp!) I do write checks occasionally -- maybe three or four a month. Small charities, a couple to my wine guy for whom credit card fees are a bit of a burden, sometimes a medical co-pay. Checks happen. Cars, too. Nobody will take a credit card as payment for a car. At least not the cars I buy. No real estate taxes can be paid by card without a surcharge.
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Old 03-26-2021, 01:01 PM   #46
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You invited this guy to share/discuss with you, so of course he is going to keep at it.

Is it so difficult to just say "NO, Thank You, I am not interested" anymore?
No need to change banks, talk to manager, etc, just decline and go live your life.
Now, IF after you have distinctly said NO, and he persists, then I would inform the branch manager.
But I am not moving/switching banks if I like where I am at.
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Old 03-26-2021, 01:46 PM   #47
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And (gasp!) I do write checks occasionally -- maybe three or four a month. Small charities, a couple to my wine guy for whom credit card fees are a bit of a burden, sometimes a medical co-pay. Checks happen. Cars, too. Nobody will take a credit card as payment for a car. At least not the cars I buy. No real estate taxes can be paid by card without a surcharge.
My church has weekly envelopes, for a check or cash. No, they don't do Venmo, credit cards, or ACH numbers. I guess I could put in cash, but checks give me a paper trail for tax purposes.

Hey, by avoiding those CC convenience fees, I can buy an awful lot of dryer sheets.
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Old 03-26-2021, 02:50 PM   #48
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Stop meeting with him, stop saying he can call you, stop taking his calls, stop saying hi to him at the branch. When he stops seeing you as a likely mark, he'll stop bothering you. You've done nothing but encourage him so far.
Have never used bank's investment services and never will. Opinion was solidified when an elderly widow family member was recommended corporate bonds by her banker. She had a net worth of $50k with $30k of it in CD's. Guess the 30 something VP thought that was appropriate. Fortunately, family members discouraged her.
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Old 03-26-2021, 03:14 PM   #49
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So he calls and wants to put all my money (401k & 403b) in a structured note inside an annuity.
Bad advice. I have deflected the sales people at the bank. If the bank is in a convenient location I would keep it. You could quite unemotionally tell him that you heard his recommendations but can do better elsewhere.
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Old 03-27-2021, 01:38 PM   #50
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Could someone please enlighten me on why it would be such a big PIA to change banks ?

Full disclosure, I haven't been inside a brick and mortar bank for years as everything is basically done on line.


As much as I hate big banks and prefer credit unions, I am stuck to BofA due to their excellent billpay. I can pay any company or individual and all my regular recipients are setup for me to push payments from my checking account. If itís a tiny infrequent vendor like my dentist/doctor they will snail mail a check timed to arrive on a scheduled date. I have also set up several credit union and online banking accounts on billpay to transfer funds in and out as necessary without fees. It is the hub for nearly all of my transactions so it would be a huge deal for me.
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Old 03-27-2021, 06:27 PM   #51
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What about using a branch with a drive-through teller for depositing your DHís $40 check? He might get a thrill out of the pneumatic tube. I still do!
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Old 03-27-2021, 06:46 PM   #52
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People still write checks
yup. the only form of payment some of the folks who do work for us will accept are checks.
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Old 03-27-2021, 07:13 PM   #53
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Switching banks is work.

I'd just tell the person next time he tries to sell you, "Look, I'm not interested and I do not want to discuss this with you anymore. Thank you."

If he persists after that, just ask to speak to the bank manager and tell the manager this guy is bothering you. That should be the end of it.
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Old 03-28-2021, 06:52 AM   #54
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I'm a bit surprised, but shouldn't be, that bank tellers are now hard-sell salespeople. I'm saddened that they prey on older or less-informed people. Just like the phone scammers. No doubt the financial instruments they're selling net a large commission, but are not good for the victim. This sort of fraud should be illegal. I'd like to see a local TV news crew expose this scam.

I don't go into a bank often. Shortly after retiring, I had one years' worth of expenses in a low-yield savings account. I got a few raised eyebrows from tellers who suggested I should look at other options. I knew I was being overly conservative and appreciated the concern. That's as far as it ever went. Maybe I have one of the "good" banks.
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Old 03-28-2021, 11:48 AM   #55
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We only go to our bank to get access to our safety deposit box prior to, and after travel.

We pay all bills on line. IF we get a hard copy cheque we deposit it online. We have had a stack of cheques for years. At the most, we have used one a year.

We use an ATM when we travel, but seldom need one at home since we do tap and go.

I would not put up with any nonsense from a bank advisor. Moving investments is very easy. The hard part might be finding an a capable advisor that you are both comfortable with.
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Old 03-28-2021, 12:19 PM   #56
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I would not sever an otherwise productive relationship due to an idiot employee.

I almost never go into my bank but if a teller or anyone started making unsolicited investment suggestions I would be appalled and take it as a sign of having way too much on deposit at 0%. I do go into the credit union occasionally and itís a surreal experience. I detect a slight raising of eyebrows when they pull my account up. That could be my imagination or because I donít look the part. Those funds are locked up in CDs anyway.
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Old 03-29-2021, 04:05 AM   #57
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So 2 years ago the guys at my bank convinced me to sit down with them and go over their financial services offering. I did the sit down but gave them none of my funds to manage.

This week the guy I see almost every time we visit the bank called me and asked to schedule a phone appointment. I said sure I had some CDís at another institution coming up this month and I was looking for options.

So he calls and wants to put all my money (401k & 403b) in a structured note inside an annuity.

I did some reading and itís a hard no for me. Which I then told him yesterday while my DH and I where at the bank. Well he didnít want to take no for answer. Really annoyed me. Kept debating the merits of the offering with me. Then made a comment that I probably wouldnít transfer my money if they could guarantee a fixed return. Kind of implied I lacked the intelligence to make a good decision.

So do I move all my accounts, just ignore the guy? What would you do?

Find a credit union and move and manage your own money. I have been banking with NFCU for over 30 years. I'll tell them you are my long lost sister and you can then join!
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Old 03-30-2021, 10:07 AM   #58
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I cannot imagine remaining with a vendor or a service provider if I am not happy. Most especially if I was not happy over an extended period of time.

Why encourage or reward poor or unacceptable products or services with your business? That is...assuming they actually want your business.

Vote with your feet and with you wallet. Voice your concerns. If there is no improvement from your perspective simply change vendors. I do not understand the indecision.

Simply move forward with another bank or financial institution that meets your needs and service expectations.
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Old 03-30-2021, 10:24 AM   #59
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Wow, 58 posts. Seems like much todo about nothing. Obviously others do not share my opinion.
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Old 03-30-2021, 03:38 PM   #60
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I would walk. Brokerage with billpayer is all i need. I have no idea why banks exist. Can't say that I've been missing them, Bob.
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