Magazine article American Banker

PNC Offers $500 for Charity as Private Bank Guarantee

Magazine article American Banker

PNC Offers $500 for Charity as Private Bank Guarantee

Article excerpt

PNC Bank Corp. has come up with a new wrinkle on service guarantees, offering to pay $500 to charity if any private banking customer is dissatisfied.

The private banking division of PNC's New England unit started the policy this spring in suburban Connecticut and the Boston area, said spokeswoman Ellen Essenfeld. So far, she said, no customer has taken the bank up on the offer.

Though a few banks back up their service quality with pledges of flat payments, PNC wanted something different for private banking customers. Such customers "tend to be charitably inclined," said Ms. Essenfeld.

The program will direct $500 to the charity of the customer's choice.

There is no list of transgressions to check-clients simply can express dissatisfaction and the bank will back up its guarantee. "If they're unhappy they just need to tell us," Ms. Essenfeld said.

PNC put ads in local papers in Connecticut that tout the experience of its private bankers and a dedication to clients that extends 24 hours, sevendays a week. …

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