KNN what is the rational for bank doing this

[sweetiepie]

KNN some banks doesn't allow existing matured funds to enjoy the current promotional rates during renewal and insist it must be fresh funds KNN
Anyone can explain what is their rationale for enforcing this rule ? KNN and they rather you go to another bank then what for they give promo rates to attract new funds ? KNN

 

[borom]

This has been going on for years-as one of their KPI is in attracting NEW clients/customers.
This is usually from American "trained" type of bankers whose outlook is very short-as they need to survive before they are booted out.
So we should follow suit and just dump the old bank and go to one that gives the best rate. No different from companies that boot out experienced but highly paid employees for cheap but inexperienced ones. You think the top management are not aware they are retrenching their highest paid but also best employees?
They certainly do, but they need to save their own highly paid jobs first .
Listed companies are most affected as they need to show results every quarter or shareholders value will be "destroyed" .
I call this a Wall St disease as it prevent most companies (except the very huge/profitable) from making long term investments in technology/manpower/innovation .

 

[sweetiepie]

This has been going on for years-as one of their KPI is in attracting NEW clients/customers.
This is usually from American "trained" type of bankers whose outlook is very short-as they need to survive before they are booted out.
So we should follow suit and just dump the old bank and go to one that gives the best rate. No different from companies that boot out experienced but highly paid employees for cheap but inexperienced ones. You think the top management are not aware they are retrenching their highest paid but also best employees?
They certainly do, but they need to save their own highly paid jobs first .
Listed companies are most affected as they need to show results every quarter or shareholders value will be "destroyed" .
I call this a Wall St disease as it prevent most companies (except the very huge/profitable) from making long term investments in technology/manpower/innovation .

KNN thanks for the explanation and yes just have to move to next highest available KNN no point in complaining KNN

 

[Scrooball (clone)]

What kind of idiot ask such a stupid question? Wow seriously this place is full of retards operating on single digit IQs

 

[sweetiepie]

What kind of idiot ask such a stupid question? Wow seriously this place is full of retards operating on single digit IQs

KNN got business don't do then is the real retard KNN

 

[glockman]

KNN got business don't do then is the real retard KNN

I am glad for you, at least you have money in the bank. I am still dealing with bread and butter issues and have a little money in a tin can. If I have money like you, I will also switch bank. There is simply no incentive to stay, screw them

 

[Huatable]

Are you refering to Maybank and SCB?
Some banks do waive "fresh funds" request to enjoy their best promotion rates.

I do not stoop so low to move money out of a bank with promotion and bring it back the bank 72hours later as "fresh funds".
I will just move my funds away to the next best fixed deposit offer in the market. I know my pennies don't mean anything to the bank but it is a small protest on my part.

 

[Scrooball (clone)]

I am glad for you, at least you have money in the bank. I am still dealing with bread and butter issues and have a little money in a tin can. If I have money like you, I will also switch bank. There is simply no incentive to stay, screw them

If U have bread and butter issue u won’t even be in here posting rubbish in a forum!

 

[whoami]

Are you refering to Maybank and SCB?
Some banks do waive "fresh funds" request to enjoy their best promotion rates.

I do not stoop so low to move money out of a bank with promotion and bring it back the bank 72hours later as "fresh funds".
I will just move my funds away to the next best fixed deposit offer in the market. I know my pennies don't mean anything to the bank but it is a small protest on my part.

What if is Maybank? So far the latter offer most competitive FD rate in Sinkieland. Much much better than our 3 useless local banks.

 

[sweetiepie]

I am glad for you, at least you have money in the bank. I am still dealing with bread and butter issues and have a little money in a tin can. If I have money like you, I will also switch bank. There is simply no incentive to stay, screw them

KNN thank you you must have spent all on titties and nehs nehs KNN

 

[sweetiepie]

Are you refering to Maybank and SCB?
Some banks do waive "fresh funds" request to enjoy their best promotion rates.

I do not stoop so low to move money out of a bank with promotion and bring it back the bank 72hours later as "fresh funds".
I will just move my funds away to the next best fixed deposit offer in the market. I know my pennies don't mean anything to the bank but it is a small protest on my part.

KNN you are spot on KNN for Maybank if the cb investment banker don't take you can still goto counter girl will take it KNN but for scb is a real cb bank they will reject your offer KNN

 

[winnipegjets]

If U have bread and butter issue u won’t even be in here posting rubbish in a forum!

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