We've found a five-star bank: Middlesex Savings, in the Metro West area of Greater Boston. We will present them with their Coine Award this fall.
We're researching Commerce Bank right now. So far, so good. Sadly for the Coines, the nearest branch to Naples is across Alligator Alley, about 90 minutes from here.
After these two, Wachovia is head-and-shoulders above all the rest. They missed a Coine Award by inches in 2006, and haven't really blown us away enough to be reconsidered this year. But they're very good, especially for a bank.
So not all banks stink. Just almost all.
Jane and I, our companies, and our foundation have accounts with 6 different banks. That may seem like a lot to you, but we're second-generation Depression survivors, and this makes us feel more comfortable at night.
Suffice it to say, we've had some experience with banking.
So here's one that kills me: in one bank that we use in Naples, if you ask the teller to make your deposit funds available right away, she will; doesn't matter what bank it's drawn off of. Maybe it's because we're good customers, maybe this is just their blanket policy. I don't know.
However, if you don't ask, they won't do it. What's that about? They'll give you terrific service - they can do it, they're happy to do it. But only if you ask them to. Otherwise, they'll give you lame service, just like most banks.
Service is your differentiator in a mature industry such as banking. That means that all banks are the same, except in this one area.
A lesson to take from this:
If you have a service practice that sets you apart, use it consistently!
This one lesson will make you rich. I kid you not. Ignore it at your peril.
