4 ms·

In Canadian telecom, when you call Rogers or Bell to cancel your cell phone plan they transfer you to a retentions' department who will offer you a special rate

by acchow 4y ago

In Canadian telecom, when you call Rogers or Bell to cancel your cell phone plan they transfer you to a retentions' department who will offer you a special rate to retain your business. I wonder if banks will do the same. From a profit perspective, having the same price for all customers sounds inefficient.

commoner 4y ago
In the U.S., customer service agents sometimes give a rentention offer when you ask to close a credit card account, especially if it has an annual fee. They may waive or reduce the annual fee if you agree to keep the account open, or give a statement credit or some other reward if you spend a certain amount of money on the card. These offers are more common when you spend more money on the card.
joezydeco 4y ago
Yeah, that's not going to happen any time soon. I recently settled the estate of a deceased family member and moved some very large amounts of money through my JPMC accounts. As in, orders of magnitude larger than I normally deposit. Did it trigger any flag from their sales department to maybe ask if I was interested in investing it with them, or moving it to a CD or money market account? Nope. It was in and out and nary a peep was heard from them the entire time.
- hypothesis 4y ago
  > As in, orders of magnitude larger than I normally deposit. > It was in and out and nary a peep was heard from them the entire time. It could be a blessing in disguise, as they could have instead put a hold on transactions and forcing you to show up in a branch in person to unblock it. Because their ML systems told so.
  - joezydeco 4y ago
    Fedwire transfers usually don't get held up by their fraud detection systems. That can be an advantage at times and a disadvantage at others.
  - etrautmann 4y ago
    This just happened to me. I setup a Marcus account and have had 10s of k locked for weeks because it’s apparently suspicious that I want to transfer it to an account other than the one it came in from. The rates don’t even beat any money market rates in a brokerage account so I struggle to see the purpose of these high interest cash accounts.

by acchow 4y ago

commoner 4y ago

In the U.S., customer service agents sometimes give a rentention offer when you ask to close a credit card account, especially if it has an annual fee. They may waive or reduce the annual fee if you agree to keep the account open, or give a statement credit or some other reward if you spend a certain amount of money on the card. These offers are more common when you spend more money on the card.

joezydeco 4y ago

Yeah, that's not going to happen any time soon. I recently settled the estate of a deceased family member and moved some very large amounts of money through my JPMC accounts. As in, orders of magnitude larger than I normally deposit. Did it trigger any flag from their sales department to maybe ask if I was interested in investing it with them, or moving it to a CD or money market account? Nope. It was in and out and nary a peep was heard from them the entire time.

hypothesis 4y ago
> As in, orders of magnitude larger than I normally deposit. > It was in and out and nary a peep was heard from them the entire time. It could be a blessing in disguise, as they could have instead put a hold on transactions and forcing you to show up in a branch in person to unblock it. Because their ML systems told so.
- joezydeco 4y ago
  Fedwire transfers usually don't get held up by their fraud detection systems. That can be an advantage at times and a disadvantage at others.
- etrautmann 4y ago
  This just happened to me. I setup a Marcus account and have had 10s of k locked for weeks because it’s apparently suspicious that I want to transfer it to an account other than the one it came in from. The rates don’t even beat any money market rates in a brokerage account so I struggle to see the purpose of these high interest cash accounts.