Standard Bank takes FNB complaint to Twitter

Standard Bank, which is one of South Africa’s largest financial institutions, has gone “gloves off” with FNB (another large South African bank) on Twitter.

Over the last few months First National Bank, a Division of First Rand Bank LTD, has made a concerted effort to portray itself as a customer-Orientated bank. Its official Twitter account, @rbjacobs, has been on call virtually 24 hours a day helping FNB clients with any and all problems and banking queries. FNB also made waves last year when it launched South Africa’s first Mobile Banking App on iPhone, Android and Blackberry simultaneously and then weeks later launched discounted smartphones and tablets with interest-free loans to Gold and Platinum Clients. The active involvement of FNB CEO Michael Jordaan has also helped personalise the relationship between FNB customers and the bank. This has created a virtual army of FNB evangelists that would make Steve Jobs and his Mac Fanboys proud.

The marketing campaign went into overdrive on radio when “Steve” from Bleep-Bank called unhappy consumers to find out why they were switching to FNB.

It was only a matter of time before one of the other “Big Four” banks (the other two being ABSA and Nedbank) responded to FNB’s robust marketing drive.

The tweet stream started, however, when Standard Bank announced that it would be laying a complaint against FNB with the Advertising Standards Authority (ASA) for a print advert that appeared in the Sunday Times.

We instruct attorneys to lodge complaint with ASA against FNB for advertising that misleads the public.

— Standard Bank (@StandardBankGrp) February 23, 2012

The basis of the complaint was that a number of the claims made in the ads are false.

FNB ads mislead South Africans by laying claim to several firsts.

— Standard Bank (@StandardBankGrp) February 23, 2012

It then laid out the claims it had issue with in detail:

Our Mzansi account has never had a monthly management fee.

— Standard Bank (@StandardBankGrp) February 23, 2012

We had an account with no monthly management fee back in 2004.

— Standard Bank (@StandardBankGrp) February 23, 2012

We do offer free online banking.

— Standard Bank (@StandardBankGrp) February 23, 2012

Some Twitter users appeared amused at Standard Bank’s comments, but noted that the bank had failed to address a number of its own issues:

So the gloves are off. @StandardBankGrp finally reacting to #FNB. But they still don’t respond to the real issues.

— Tony Seifart (@tonyseifart) February 23, 2012

Wish @StandardBankGrp spent as much time on twitter responding to clients as they do bleating about #FNB! If you complain, you’re ignored.

— Rachelle Bricout (@CreateAStirSA) February 23, 2012

Here’s an idea @StandardBankGrp, instead of whinging about #FNB why not try be a better bank? This is exactly why I don’t bank with you.

— Jonathan Witt (@Jonathan_Witt) February 23, 2012

@StandardBankGrp Cry me a Steve! Why not create an ad to show how many customer switched from your dinosaur bank to #FNB #Innovation

— Michael Jubiler (@mjubes) February 23, 2012

One criticised the technical legitimacy of Standard Bank’s opening tweet:

attorneys should not be lodging complaints at the ASA; the client or agency should. It is not a court of law. @StandardBankGrp#ASA #FNB

— Gillian Rightford (@grightford) February 23, 2012

Another questioned the wisdom of taking the fight to Twitter:

Wow I think STD Bank misjudged the loyalty of #FNB customers on twitter – just makes Std Bank seem vengeful #brandfail

— NixB (@NickiBurley) February 23, 2012

At least one Twitter user was on Standard Bank’s side:

I think @StandardBankGrp has a case against @Rbjacobs #FNB but ASA will decide, I remember Capitec’s lowest fee ads were recalled

— Nathi Mbele (@NathiMbele) February 23, 2012

FNB CEO and prolific tweeter Michael Jordaan told his followers to check out the various responses to Standard Bank’s tweets:

Customers responding on Twitter to competitor’s complaint against FNB. Go check it out.

— Michael Jordaan (@MichaelJordaan) February 23, 2012

FNB’s official account @rbjacobs refused to be drawn into the conflict, although it did respond positively to a couple of people who jumped to FNB’s side:

You said it! RT @robin76 @idale this is why I left @StandardBankGrp years ago. @Rbjacobs treating me much better thank you! #FNB

— RbJacobs (FNB Guy) (@Rbjacobs) February 23, 2012

@julietnewell @asherjustin @brucebusiness @MrCPT Really no time for a Twitter fight. Too busy making #FNB customers happy. 🙂

— RbJacobs (FNB Guy) (@Rbjacobs) February 23, 2012

Additional reporting by Tony Seifart