Barclays is self admitting that it isn’t the country’s most popular brand, but does that matter? Whither Barclays ever truly wanted to purchase / save Lehman Brothers or not the fact that they very publicly thought about it has done them the world of good. Nothing will send home the message that ‘you don’t have to worry about banking with us’ quite like hinting just how deep your pockets are.
As a result, thousands of savers have flooded to Barclays’ doors and asked them to look after their money, even though other banks are offering much higher saving rates. Barclays aren’t popular but they are trusted.
When thousands withdrew their money from the reasonably well liked Northern Rock, its CEO told them they didn’t need to, few listened. So what’s the difference between these banks? Northern Rock tried to tell its customers it was secure, Barclays demonstrated it to the market on an international scale.
Many of the banks (Barclays ironically more than most) are trying to become more popular with their customers, but when it comes to finances isn’t trust more important; Or is trust only more important when something shakes up the status quo?
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