Pinnochio lives among us

The Citibank-Airasia promotional booth at The Curve broke my walking pace to a halt yesterday evening. The free Nokia E63 caught my attention! A RM1,080 phone for free if your credit card application is approved. Unbelievable!

I told Eunice, the Citibank staff, that it was too good to be true. I asked her what was the catch. She said none. I pressed further and she said that you just need to pay RM30 for the delivery of the phone.

For the price of RM30, I filled up the form on the spot. I wanted to select the choice of my phone which was obviously the E63 but I am unable to do so. Hence, I asked Eunice where do I state my preference. Then she revealed the 'catch'. The catch was only the every 50th approved card will receive the E63. The unlucky ones will receive a RM139 Nokia 1208 phone.

At that moment, my trust in Citibank has gone down the drains. Well, I've never really trusted banks 100% but this experience reaffirms my belief that banks don't put your interest first (I'm not refering to the interest that banks understand). Clearly, her commission came first.

Though it is too late, I'm wondering what other 'catch' is there. Maybe I will discover it when I receive the credit card and phone. It may be too late then. Do I have an option to cancel or decline the card and phone? I'm sure I can (but probably with a penalty fee).

Can you be open and transparent with me upfront? Boleh tak, Citibank?

How To Win Friends (and Customers)

HSBC is an epitome of 1st class customer service. I decided to become loyal to them after an encounter with a call agent few days ago. I’ve been using HSBC credit card since year 2001 and I foresee myself using it for another 30-40 years. What will be my customer lifetime value to HSBC?

Just the other day, I realized my credit card was due few days ago. I hate paying unnecessary fees. In this case, a RM5 late payment penalty (for being forgetful). Without haste, I paid the full amount at the cash deposit machine after my office work. Then I call HSBC to request for a waiver of the RM5. Without hesitation, the call agent agreed to waive off the RM5 on the spot. I was surprised that the call agent had the power to make that decision. I was expecting the call agent to replied, “I will put your request in for consideration”. Instead, the call agent considered it on the spot and made a decision. A decision which I favored and appreciated. Rarely, companies favor the customer’s request or needs. Most times, companies’ needs or policies come 1st. Customers come 2nd. Sometimes 3rd too. In Malaysia Airlines case, passengers from developing countries come in 3rd.

With that pleasant and satisfying encounter with HSBC call agent, it made me wonder whether the justification of merging several local small banks into a large bank in order to compete with international banks (HSBC, Citibank) makes logical sense. Chances are if you are a big bank with every branch or ATM in every city, town or fishing village, you will never have my business if you cannot understand the importance of putting me 1st. If you refuse to waive of the RM5 late payment penalty when I request it, I’m walking into a HSBC branch.

Can the local large banks rise to the occasion? The way HSBC rose to the occasion when I called. Boleh,tak?