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Would banks’ promotion influence you to open a bank account ?

Savings promotion is increasingly becoming a regular feature in the banking industry. All the major banks with few exceptions have conducted savings promotions in the last two years. First Bank, Intercontinental Bank, Union Bank, Diamond Bank, and Fidelity Bank are currently conducting saving promotions.

These promotions offer mouth watering prizes such as Houses, cars, household appliances and cash ranging from N500,000 to N50 million per winner.

The aim is to either woo members of the public to open account with a specified amount of money or woo existing customers to maintain a certain amount of money in their accounts  for a specified period of time. In an attempt to ascertain the attitude of the public to this promotion especially if these promotions can compel them to open an account with a bank, Vanguard interviewed a cross section of Nigerians to feel their pulse on banking culture and promotions
Can Savings promotion influence you to open a bank account?
Temilade Adegunlehin

No! Banking product promotion cannot influence me to open account. The reason being that I am personally sceptical about those things especially in Nigeria. This is because we know that most times these things are fixed and the banks already know who will win. So it looks like just a waste of time. Also almost every bank does promotion at one time or the other. A bank must focus on customer service more than promotions to open an account.

(Mr. Tokunbo Olakunle, Festac. )
“Yes! Product promotion can influence me to open an account in any of the banks, so far in one way or the other, there will be profit  for me and if the chances of loss is 0 per cent.  Also, I can open an account because of promotion if I will have easy access to my account.”

(Mr George Olukayode .O,   Victoria Island, Lagos)
“Yes and no. Promotion cannot influence me to open an account but I can only respond to a promotion if I initially had the intention of opening such account. In other words, it could only stimulate an action I am contemplating.”
(Mr Sunkanmi,    Chams , Ikeja.)

“I have no direct answer but if the promotion is something that has a positive value for me and brings about a good result at the end of the day, why not? It would influence me to open an account. But if not, then it would not.”
(Miss Nkiruka Azubuge  Caington Resources)                                                                  .    I don’t have a plan for it. And more so, I already have several bank accounts.”
(Mrs Adeniyi, Gbagada)  “Yes.  Basically, the mode of information presented and also the benefits attached to it can influence me to open an account.”

(Mr Olaotan Williams, Festac)
“No. Because I don’t think I have interest and also I already have enough of bank accounts not to talk of opening another one because of promotion.”

(Miss Abiodun)
“No! Promotion cannot influence me to open an account because I am not convinced and I am not really sure it works.”
( Mr Chijoke  Anyaegbunam,  Lagos Island)
“Yes. Promotion can influence me to open an account. As long as there will be benefit for me. And it does not stop me from closing down my account even if I gain nothing at the end.”

(Miss John Oluseyi Abisola, Lagos Island)                                                                             Yes! Promotion can influence me to open an account because it is a game and anyone has the chance to win and if I am lucky, I will  win.”
(Mrs Olubunmi Ojo, Ejigbo)


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.