Silicon Valley Watcher - Former FT journalist Tom Foremski reporting from the intersection of technology and media

Case Study: Wells Fargo's Effective Brand Management . . . Not!

Posted by Tom Foremski - April 25, 2007

My RantWatch yesterday about Wells Fargo's poor service could become an interesting case study in how large companies manage their online reputations. Or how they don't.

The post was hardly complimentary.  I complained about depositing a check into my threadbare account and the bank sitting on my money for ten days. I was also told that the delay was longer because I had used an ATM.

I said I use an ATM because it is faster for me and faster for the bank.

I had no idea it was better to engage with a bank teller--clearly bank automation is far less efficient than we supposed. Don't be surprised if millions of ATMs start to be pulled out of walls leaving ugly patched holes along streets and on corners.

Link to RantWatch: Extremely Poor Service from Wells Fargo

I'm angry because I can't pay my family support or pay my writers. I'm angry because I know that the bank can clear the funds in a microsecond if it chose to.

With all the massive amounts of tech investments the banks have made over decades, they insist on taking ten days to clear a check. Incredible.

I even added a link to a web site that documented some shady practices by Wells Fargo.

The Wells Fargo Watch - Apr 23

Inner City Press / Community on the Move (ICP) and its Fair Finance Watch have become increasingly concerned with Wells Fargo's predatory lending, ...
www.innercitypress.org/wells.html

And this very visible online complaint is happening in its back yard, Wells Fargo is headquartered in San Francisco. Yet the bank doesn't respond in any way, doesn't even leave a comment.

Does it know what is going on? Does it care? It doesn't seem to, at least that's what any readers will clearly conclude.

I'll get over it. But my complaint will live on in the permalink concrete of the Internet for as long as the Internet exists. Search engines will dredge it up again and again and again.

You'd think that Wells Fargo would be keen to address a customer complaint at the point of complaint and leave a comment--so that its point of view would also be recorded in the permanent Internet archives.

I'm certainly not asking for special treatment or favors. I did not stride into my local branch and demand special treatment otherwise I would write about it. I think the bank should deposit funds into all of its customer accounts within a day or two of a check being presented.

And if I can help it make such a wise decision I would be extremely satisfied. In fact, that's how the bank can make things right with me.

 Brand Autopsy Would you miss Wells Fargo

 

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