My first post of 2008 comes as the result of a fairly normal activity that many of us–if we listen to the financial gurus and our financial advisors–undertake every year. Namely, double-checking our financial records, investment portfolio allocations, life insurance and so forth.
During this year’s analysis of my bank accounts, I found that a teaser rate from Wachovia bank had expired and the interest rate on one of my money market accounts had gone down from 4.75% to the standard rate of 1.75%. As the result of a couple of phone calls and some quick online banking, Wachovia lost a large chunk of my business that they needn’t have.
And they could have prevented it all by taking a lesson from Willams-Sonoma.