A lot of people wonder, particularly in Ireland: how come the banks make so much money. The question really should be asked: why don’t the banks make far more money than they do? After all, they’re collecting a spread on the interest for all the borrowing in the economy and they’re collecting some sort of transaction fee on every transaction larger than a few hundred euros? Anyway, on to my tale of woe.
I rang Bank of Ireland on 16 May to request a statement. The lady on the phone said it would come out to me that week. Today (7 June, 21 days later) there’s still no sign of it. So I ring them up. It turns out that my request was keyed into the CRM system, but it hasn’t been ‘actioned’. So she promises that the relevant department will now send it out to me.
Now, wouldn’t it have made more sense if lady on the phone had licked an envelope and sent the statement out to me herself the first day, instead of wasting effort keying the request into the computer for someone else to do? It’s silly. But it’s not untypical. Banks are generally pretty inefficient about what they do.
The other thing that’s silly is that I can’t get old statements through Internet banking. I can only check my balance and see transactions since the last statement. Why not just show me everything and let me download it into Excel? Then I wouldn’t have needed to call them at all.