how commonwealth bank works

My family has been advised that we are no longer a premium customer to Commonwealth Bank and no longer deserve a relationship banker.

We have had a series of relationship bankers for around 15 years.

The letter we received recently advised us that for all our banking needs we must now go to a branch. "It is better for you!" it said.

Our deposits with the bank have increased substantially over the years. We still hold a mortgage with the bank. Our Commsec account is with the bank. Our credit cards are with the bank, (paying no interest as we pay out balances each month.)

But because we no longer aid the bank in reaching its sales targets - ie. new loans - we have been flicked back to a branch.

My relationship banker was apologetic and explained the circumstances. She was quite upfront and told me we can't help her meet her sales targets of new money coming into Commbank.

Ladies and gentlemen, meet the new era of banking.

Apparently, we are too careful in our money management to suit Commbank's purpose.

We are not talking just thousands of dollars in savings and mortgages, either,

What's their new advertising line - we do things diffently. They sure do.

But not what people want.

Larry

Larry