Banks are going big on upselling everything, especially credit cards.
Bank staff are under constant pressure to get customers to sign up for credit cards they don't need and can't afford.
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More stories from reporter Tineka Everaardt
[au.pfinance.yahoo.com/compare/credit-cards/article/-/13209504/mind-over-money-its-all-in-your-head/|Moneyhound: Mind over money - it's all in your head]
Response statements- Commonwealth Bank: Commonwealth Bank is committed to responsible lending practices and bases credit decisions with an overriding requirement for a customer being able to meet their repayment obligations.
- NAB: NAB is committed to responsible lending practices and adheres to the legal requirements under the National Consumer Credit Protection Act, and at no time are staff encouraged to recommend products that do not meet customers' needs.
- Westpac: The comments don't reflect our own experience. Our branch staff are some of our most engaged and their sales targets reflect industry norms. These targets include input from staff.
- ANZ:We don’t agree our branch staff are under pressure to meet sales targets and we’re confident our performance objectives are appropriate. Employees are able to raise concerns about their performance objectives via a process agreed with the FSU and we are not aware of any employees raising any concerns via this process over the last 12 months. Financial targets have actually decreased and now only represent 25 per cent of overall performance down from 50 per cent two years ago. Greater focus is now on customer service, teamwork, collaboration and adhering to compliance requirements. Employee engagement scores for branch staff increased this year by 6 per cent to 74 per cent which is above the overall average for the bank and also above the global industry benchmark.
Contact details
- Choice - www.choice.com.au
This reporter is on Twitter at @tinekae
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