This article has a good run down on the recent mistake that BoA made in introducing a fee on debit cards, Bank of America: A Case Study in Tone Deafness - Rita McGrath - Harvard Business Review.
Another thing to add is that customers didn't see any value to the fee for them. It looked like a cash grab. True, baggage fees also looked like a cash grab, but at least air lines could talk about the hard times that they were undergoing. Can any of the banks do the same? Nope!
Well worth a read.
Another thing to add is that customers didn't see any value to the fee for them. It looked like a cash grab. True, baggage fees also looked like a cash grab, but at least air lines could talk about the hard times that they were undergoing. Can any of the banks do the same? Nope!
Well worth a read.
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