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December 13, 2004 12:01 AM

Broken: Bank account names

FleetAn anonymous reader writes:

It really bugs me when companies make up cryptic internal names for things, like the type of bank account, and force the customer to deal with them.  Why not list my accounts in plain English, like Checking and Savings? 

Look at this on-line banking screenshot and guess which is my checking, and which is my savings account. 

Answer: "FleetOne MMS" turns out to be my savings account (Money-Market Savings), and "Interest CK" is code for checking.  The CK is a stretch abbreviation for checking, but the Interest led me toward thinking of it as a savings account.


A number of Internet Banking solutions now let you put your own "Friendly Name" for each account - sounds like your bank should consider that feature for a future update.


Posted by: Damien Guard at December 13, 2004 04:38 AM

I agree that this is broken, and I don't think Damien's solution is adequate.

It's perfectly fine to have fancy marketing names for products, but they should not create confusion. My bank, for example, BankOne, offers me "Choice One Checking" and "Money Market Savings".

Posted by: Robby Slaughter at December 13, 2004 07:47 AM

I also use this banking service (now called Bank Of America Homelink). I have two accounts of the same type that I share with different family members, and I can only tell them apart by the account numbers. It would be nice if I could give them nicknames like "Bob/Jamila" and "Bob/Alex."

Posted by: Bob Sifniades at December 13, 2004 09:33 AM

TD Canada Trust allows friendly nicknames for accounts.

Posted by: paul at December 13, 2004 12:15 PM

Better than my credit union.

Checking is "S1" and savings is "S8".

Get a "3" and a "THX" in there, and I'm all ready for the future!

Posted by: Citizen Of Trantor at December 13, 2004 01:55 PM

Hee hee dystopian banking

Posted by: Maurs at December 13, 2004 03:52 PM

Wells offers the change-the-name feature - but the default names are things like "Checking" and "Savings", which seems like the best of both worlds. (Particularly if you've got more than one checking account with them.)

Posted by: jaed at December 14, 2004 02:58 AM

"dystopian banking" = oxymoron

Posted by: Citizen Of Trantor at December 14, 2004 10:01 AM

>> "dystopian banking" = oxymoron


"Utopian banking" = oxymoron (kind of)

"Dystopian banking" is more like a tautology.

Posted by: Gil at December 14, 2004 09:19 PM

What banks (and any company, really) need to realize is that what sets them apart from their competition, i.e. their marketing buzzwords, is more important to their CEO than to the customer. If I'm a customer, I already chose your company. Cut the crap and just tell it like it is.

Posted by: Michael Spina at December 15, 2004 03:06 PM

> "Utopian banking" = oxymoron (kind of)

> "Dystopian banking" is more like a tautology.

I believe "dystopian banking" is brought to you by the Department of Redundancy Department--the same folks who brought you the hot water heater and Parks Canada Parcs.

Posted by: Gary Karpinski at May 26, 2005 01:01 AM

.....If you know you have a savings and checking account then it's not that far of a stretch to figure MMS would be savings and CK would be check....especially when you went and signed up for the Checking Account I'm sure they told you it was a INTEREST BEARING account.

Posted by: misterx at August 7, 2005 07:31 PM

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