Tag Archives: Traveler’s cheque


14 Apr

In our personal life, breaking up with a loved one or a dear friend can be very difficult. And the same goes for brand breakups – or is it?

There are many brands that we have forged long relationships with. Some by osmosis – think Vegemite, Colgate toothpaste and other brands that we have used since childhood. Others have come from our parents/grandparents using that brand or it fits into our lifestyle. Two prime examples are what car you drive could be because you grew up with Ford or Holden (this may not be so prevalent to younger generations), and what bank you bank with. Both of these examples could be long-term loyalty that you hold towards these brands, without actually knowing why you bank with that bank. Let alone if you even like this brand.

Let’s take the example of your bank. You’ve been with them since you were at primary school and (insert bank name here) they gave you a money-box and you thought that they were pretty cool! Your first pay cheque went into that account. You’d watch the balance go up and down in the book (yes remember the book)! You bought your first car, got your first loan, you got some traveller’s cheques and travelled overseas (if you’re older and remember what traveller’s cheques were)! You may have bought your first home – all using that same bank.

When you think about it, this bank (or brand) has been with you for the majority of your life. You’ve been through a lot together. It knows a lot about you. Personal details like your birthday, and of course, how much you are worth to that bank. Did you ever get a birthday card from your bank? Nope. Just a monthly statement, a black and white relationship. Purely transactional.

And of course, as you’ve been friends for so long, wouldn’t you think that your bank would give you special treatment? A gift for being in such a committed relationship?

No it seems.

But what do you get? Interest hikes, no special attention, no paper statements, please don’t come into visit us in a branch – please do everything online, as we really don’t want to see you?


Not until you have to ask for them to be nice to you. You ask them to give you a better rate, a better deal – as we’ve been together for over 20 years (please). It has come to begging! But of course, your bank has now moved on to their next victim and it appears they have become a pimp.

So the question must be asked. Did your bank break up with you in the first instance?

And you missed the whole thing?

Breaking up with a bank (or any other brand for that matter) can be quite hard as it’s personal. You’ve invested great amounts of time and money in this relationship. Your insurance, investments, share portfolio…. credit cards, the list goes on. To move often incurs fees. But more so, you have feelings for this brand.

I’ve slowly broken up with my bank but it has been coming for a while. Somehow I’ve put it in the too hard basket and I’ll do that when I have time! First it was my home & contents insurance, next it was my car insurance. At first I felt sad that our relationship had to end. Then I got angry as the other person in this relationship (my bank) was not even trying to save our relationship!

Next week it is my home loan. I now have no feelings for my bank. My bank has no feelings for me. It has become the clinical relationship that my bank made it years ago, but I was too (in love or complacent) to see. It wasn’t love, it was laziness on my behalf.

I did ask them to be nice to me, to save our relationship. “I’ve been loyal to you” I told them, but they didn’t want to know, listen or talk.

A brand needs to be so many things to its customers: honesty and relevancy are two that spring to mind. Hence we see The National Bank’s advertising campaign to ‘Break Up With Our Bank’ and one I saw this morning, ‘Would your bank tell you if another bank had better rates?’ Brands need to be wherever customers have needs. Find out what we really want and give it to us. It’s really not that hard!

Relationships make the world go round, whether personal or brands. Breaking up with brands isn’t that difficult, ‘cos if there ain’t no trust, there ain’t no relationship!



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