I have been meaning to add this blog for quite some time… well, ever since I opened an account at Klein Bank. It started innocently enough… I was given a mystery shopping assignment to see how well Klein Bank performs. I was to see how thorough the associate was in explaining all the benefits of banking with them as well as report on their customer service skills. Not only did they get a glowing report, they got a new customer.
I had been very disatisfied with banking in general for quite some time – both personal and business. My personal credit union now has only monitors in the lobby and no face-to-face interaction with tellers. IN THE LOBBY!!! It is like a walk-up drive-thru with a ceiling. I used to be a person at the credit union… I knew the tellers at three different locations and knew about their lives just as they knew about mine. Now, I can’t even write a check to myself from my own company without getting a hold placed on it. I have been writing these same checks for a dozen years and suddenly, it’s “Sorry, that’s just our policy.” Well, their policy is CRAP.
Business banking has been even worse… Running a small business (under $1 million in annual revenue,) I was a veritable non-entity. To the bankers, I was not a large enough profit center because I didn’t borrow money. My holding were not large enough to warrant even the offer of a cup of coffee upon my arrival… and as with my personal account, their policies always outweighed my needs as a bank customer.
What did they forget here? That is is MY MONEY! They forgot that they are making a profit by using my money. They forgot that they should be kissing my feet for allowing them to hold my funds… not charging me for each deposit, withdrawal, inquiry or each time I scratch my ass. What happened to interest? Remember that? You used to be paid interest to let them use your money. That is almost gone now entirely and where it does exist, it is a joke… the mattress pays better.
Flash forward to today… Klein Bank. They get it! They are still small and the cynic in me says that they are just doing it to grow their business and once they do, the same thing will happen. Regardless though of their motivation – the fact remains that they are doing the right thing now. There is NO FEE for a checking account… (not even hidden ones.) They give you a free set of checks, free printed deposit slips, a free endorsement stamp, free debit card, free this and free that. And we are talking a business account… that is unheard of. In addition, everything is free on the personal account as well.
It is rare that you find a good deal anywhere and as the temptation to complain about things is far greater than urge to congratulate, I thought I would share my positive experience with Klein Bank. Check them out (pun intended.)