Personal Banker!!

[jingo]

Betty from Westpac bank (name changed to protect privacy!) has been in our lives for the best part of 7 months.

She popped up one day (or should I say phoned) to introduce herself as our personal banker. (I could even have the title incorrect). A very chatty and friendly lady, I didn't think much of it.

Until she kept calling! First my wife, then me!! Betty wanted to know if she could assist us in anyway, and even made it her business to have one of our IP's valued (perhaps its just on the system so no big deal) informing us we'd have more equity available!

Last year I was more interested in preparing our 3 month holiday to Europe than investing, so I just forgot about her. Interestingly Betty took a great interest (seemingly) in our trip and recorded in her diary the day we would be going and our return date. I thought that was very odd!!

Anyway, we go to reapply for a pre-approval we have had in place with Westpac and source the person we'd like to help us with the process, as the person we had been dealing with for years has left the bank. The person (lets call him Fred) informs us that he can't get into our details because Betty has put a lock on them!!

We duly contact Betty and inform her that we'd like to re-apply for our pre-approval. Rather indignantly she informs me that she gives her permission for me to go through Fred. I felt like asking her what else I needed her permission for in regards to my banking!!

We've had a happy ending with the pre-approval reactivate (probably wrong terms, so bear with me brokers). Betty seems to be happy enough with the outcome as well!!

Has anyone else inadvertently picked up a Personal Banker? If anyone can shed some light into why Betty dug her nose into our accounts, I'd be interested. I'd also love to hear your stories!!

 

[D.T.]

So you have a wife yet betty gave you a happy ending?

 

[jingo]

So you have a wife yet betty gave you a happy ending?

Yes, a financially rewarding experience, that is!!

 

[Terry_w]

Betty from Westpac bank (name changed to protect privacy!) has been in our lives for the best part of 7 months.

She popped up one day (or should I say phoned) to introduce herself as our personal banker. (I could even have the title incorrect). A very chatty and friendly lady, I didn't think much of it.

Until she kept calling! First my wife, then me!! Betty wanted to know if she could assist us in anyway, and even made it her business to have one of our IP's valued (perhaps its just on the system so no big deal) informing us we'd have more equity available!

Last year I was more interested in preparing our 3 month holiday to Europe than investing, so I just forgot about her. Interestingly Betty took a great interest (seemingly) in our trip and recorded in her diary the day we would be going and our return date. I thought that was very odd!!

Anyway, we go to reapply for a pre-approval we have had in place with Westpac and source the person we'd like to help us with the process, as the person we had been dealing with for years has left the bank. The person (lets call him Fred) informs us that he can't get into our details because Betty has put a lock on them!!

We duly contact Betty and inform her that we'd like to re-apply for our pre-approval. Rather indignantly she informs me that she gives her permission for me to go through Fred. I felt like asking her what else I needed her permission for in regards to my banking!!

We've had a happy ending with the pre-approval reactivate (probably wrong terms, so bear with me brokers). Betty seems to be happy enough with the outcome as well!!

Has anyone else inadvertently picked up a Personal Banker? If anyone can shed some light into why Betty dug her nose into our accounts, I'd be interested. I'd also love to hear your stories!!

For a minute I thought you were going to say Betty popped up on your holiday in Europe!

 

[lowiq]

Betty from Westpac bank (name changed to protect privacy!) has been in our lives for the best part of 7 months.

She popped up one day (or should I say phoned) to introduce herself as our personal banker. (I could even have the title incorrect). A very chatty and friendly lady, I didn't think much of it.

Until she kept calling! First my wife, then me!! Betty wanted to know if she could assist us in anyway, and even made it her business to have one of our IP's valued (perhaps its just on the system so no big deal) informing us we'd have more equity available!

Last year I was more interested in preparing our 3 month holiday to Europe than investing, so I just forgot about her. Interestingly Betty took a great interest (seemingly) in our trip and recorded in her diary the day we would be going and our return date. I thought that was very odd!!

Anyway, we go to reapply for a pre-approval we have had in place with Westpac and source the person we'd like to help us with the process, as the person we had been dealing with for years has left the bank. The person (lets call him Fred) informs us that he can't get into our details because Betty has put a lock on them!!

We duly contact Betty and inform her that we'd like to re-apply for our pre-approval. Rather indignantly she informs me that she gives her permission for me to go through Fred. I felt like asking her what else I needed her permission for in regards to my banking!!

We've had a happy ending with the pre-approval reactivate (probably wrong terms, so bear with me brokers). Betty seems to be happy enough with the outcome as well!!

Has anyone else inadvertently picked up a Personal Banker? If anyone can shed some light into why Betty dug her nose into our accounts, I'd be interested. I'd also love to hear your stories!!

Sounds more like a personal stalker. At least there's a happy ending

 

[art_vanderlay]

your story with Betty sounds like the beginnings of some sort of horror movie....like Terry said I was waiting for her to pop us at your house or on your trip

Now if only someone at Westpac would ring me to be helpful...not just to sell sell sell.....

 

[geoffw]

I had a personal banker at NAB for a few years. He got me through one deal which had proved quite difficult to finance, and which proved to be very valuable to us.

 

[Scott No Mates]

I've no issues with my PB. She has handled our account for several years now but we did have a run of them in the first few years.

 

[Aaron_C]

That's bank bureaucracy for you. Nothing new.

 

[Colin Rice]

You are on the radar and the bank don't want to loose you as a customer plus you can tell your friends (and brokers) you have a personal banker! Betty probably gets a bonus for new business and has her heart set on meeting targets so she can climb the corporate ladder. Yes it really is all about YOU

I love it when people tell me they have their own personal banker because they are a premium client and I respond cheekily that all my clients have a personal banker and are on the premium list.

 

[VYBerlinaV8]

I've had two banks try to enrol me with their 'personal banker' scheme. and I have resisted on both occasions.

My in-laws have a personal banker through whom they constructed a somewhat complex deal to build a new house (quite a large and expensive one). It was all good until the personal banker was on holiday when the builder needed a progress payment and the replacement personal banker couldn't find the file, delayed the payment, delayed the build, caused a delay and almost cost them a fortune due to not completing the build within the required time. (govt regs related)

Despite having had a 'loans guy' at the bank I'm now more cautious after that experience.

 

[jingo]

I've had two banks try to enrol me with their 'personal banker' scheme. and I have resisted on both occasions.

My in-laws have a personal banker through whom they constructed a somewhat complex deal to build a new house (quite a large and expensive one). It was all good until the personal banker was on holiday when the builder needed a progress payment and the replacement personal banker couldn't find the file, delayed the payment, delayed the build, caused a delay and almost cost them a fortune due to not completing the build within the required time. (govt regs related)

Despite having had a 'loans guy' at the bank I'm now more cautious after that experience.

Hi VYBerlinaV8,

That's all very interesting! I'm wondering if we should ask Betty to remove herself as our Personal Banker as I don't want to rely on her to sign off on every move we make! We certainly didn't request this service!

How do I go about getting rid of this Personal Banker?

Regards Jason.

 

[jingo]

I love it when people tell me they have their own personal banker because they are a premium client and I respond cheekily that all my clients have a personal banker and are on the premium list.

Yes, thats very funny!

 

[MC1]

Hi VYBerlinaV8,

That's all very interesting! I'm wondering if we should ask Betty to remove herself as our Personal Banker as I don't want to rely on her to sign off on every move we make! We certainly didn't request this service!

How do I go about getting rid of this Personal Banker?

Regards Jason.

She picked up the portfolio with your lending on it.
Don't stress before long she will move on and you will receive another PB, then another, then another, then another .........and so on

 

[Marty McDonald]

She picked up the portfolio with your lending on it.
Don't stress before long she will move on and you will receive another PB, then another, then another, then another .........and so on

Ha ha yes very true . You can't blame them for trying to create relationships I guess but it's all seems very fake doesn't it.

 

[chrispy]

Exactly the same thing happened to me, she kept phoning and pestering me.

Eventually I decided to call in and ask her about a loan...and she had moved on Finance Manager took it over and has been great, never bothers me..just says contact me when you need anything...fabulous!!!!!

Chris

 

[EN710]

Sister in law is a personal banker in one of the big 4. You need to have minimum $x amount of asset and (very) sizeable income.

I don't think I'll be on that 'premium' list for a long time. Will be interesting though

 

[MC1]

Sister in law is a personal banker in one of the big 4. You need to have minimum $x amount of asset and (very) sizeable income.

I don't think I'll be on that 'premium' list for a long time. Will be interesting though

That's a premium banker you are referring to, nearly every mortgage customer has a PB

 

[sash]

My experience with Premium/Private Bankers has been very ordinary.

They are not credit people...and they usually get things incorrect. I have removed from myself from the Private Bank as it is just w@nkfest.

I am much happier dealing with people who understand credit.

 

[Peter_Tersteeg]

Personal bankers are nothing more than a strategy used by lenders to try to isolate customers from poaching by competitors.

Certainly having a one on one relationship with an individual who knows you well can be of benefit. If however that person is required to sign off on everything you do with that bank, at some point they're not going to be instantly accessible and it's going to cause a delay for what could otherwise be a simple fix.

Individuals have lives and I've often found that this actually gets in the way of doing business if you're too reliant on a single individual.