They say that angry customers tell 3,000 friends, while satisfied customers only tell 3. A couple of weeks ago I got the regular helpful little card from my bank, reminding me that it was time to re-fix a portion of my mortgage. Like the brokers tell you to do, I’ve broken the mortgage into a couple of parts so that I’m not hit hard by large interest rate fluctuations. I opted to re-fix the maturing portion using the shortest 6 month option, knowing for sure that more rate cuts were in the offing. I fired off the card back to BankDirect and thought nothing of it.

Vijay – a previously anonymous call centre drone who is now my best mate – called me today to tell me that he received the card. He also told me that my selected rate would come into effect on the 13th of December, and inquired as to whether I would like him to hold off on applying the rate because there was a Reserve Bank announcement due out on the 4th of December. I follow interest adjustments with as much attention as any mortgage holder, but I don’t know the exact calendar dates of these announcements.

Let’s understand this clearly: it is almost definite that interest rates will be cut on the 4th of December. Therefore it is almost definite that this call means BankDirect will earn less interest from me over the next few months or years. There is, however, no “almost” about my reinforced adoration for my bank.

*sniff* I love you guys. I really do.

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