Why do representatives of banks, building societies & insurance companies refer to what they offer as "products"?

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. . . I mean, if you have a factory that makes shower curtains, you offer "a range of products", right? Green shower curtains, transparent shower curtains with little glittery fishes sewn in etc etc etc. However, if you run a bank, and you have several types of bank accounts for example, then what you offer is a range of services, surely? That is why it is called the SERVICE INDUSTRY, right? On thee radio thee other day, there was this shill for some bank or other, and the radio presenter was going on about how his interest rates were piss, like this was some big suprise or something, and the guy replied with something like, "we will have to examine our product range to make sure they are good value" THEY ARE NOT PRODUCTS, FUKCER. Coming next I AM NOT A CUSTOMER, MOTHER FUKCER, I AM A PASSENGER, THIS BEING THEE KORRECKT TERM FOR ONE WHO TRAVELS ON A RAILWAY TRAIN (grumble grumble)

― N0RM4N PH4Y, u H4TaZ, Sunday, 13 October 2002 22:35 (twenty-three years ago)

"peace of mind"

― jess (dubplatestyle), Sunday, 13 October 2002 22:36 (twenty-three years ago)

alternately "a piece of the rock"

― jess (dubplatestyle), Sunday, 13 October 2002 22:36 (twenty-three years ago)

which of course would be much cooler if you actually got a big chunk of rock with your policy.

― jess (dubplatestyle), Sunday, 13 October 2002 22:37 (twenty-three years ago)

its because the banking etc industry no longer view themselves as a service industry. they want to SELL us their crap accounts and credit cards with huge interest rates and fees and think we are all so stupid we wont notice we are being ripped off big time if they call their crap products. like we buy into it har har har.
i hate the banking industry. worked in it for years and they are all just greedy bastards who dont give a shit about people.

― donna (donna), Sunday, 13 October 2002 23:04 (twenty-three years ago)

It is because they are all buzzword cunts

― Sofa King Alternative (Sofa King Alternative), Monday, 14 October 2002 08:48 (twenty-three years ago)

Equally, the people at school being taught are not students. People studying at colleges and universities are students. School kids are pupils, y'hear? It is almost as if some directive has come down from Estelle Morris that says "Call the kids STUDENTS not PUPILS. If you call them PUPILS then WE WILL SACK YOU, no matter how many good teachers are leaving the profession already".

Another school related thing: my landlord's ex referred to the headmaster and deputy head as MANAGEMENT. I felt like marching up to her and saying "You do not work in an office!"

― MarkH (MarkH), Monday, 14 October 2002 09:27 (twenty-three years ago)

I am happy with a bank account being a product. I have an object-oriented approach to banking.

― N. (nickdastoor), Monday, 14 October 2002 09:42 (twenty-three years ago)

Complementary limit increase for Mr Dastoor. All fees waived.

― Lara, Monday, 14 October 2002 09:46 (twenty-three years ago)

My theory is that it's a spinoff from investment banks referring to the things they buy and sell (bonds, futures) as products or instruments generically.

However, customers != passengers.

― Sam (chirombo), Monday, 14 October 2002 09:49 (twenty-three years ago)

instrument = very odd use of the word

― RickyT (RickyT), Monday, 14 October 2002 10:08 (twenty-three years ago)

Generally I've found it's referred to as "products AND services". i.e. the bank account they sell you is a product. The £25 you pay for a letter saying you're overdrawn is a service.

― Tom (Groke), Monday, 14 October 2002 10:10 (twenty-three years ago)

Do people really get those letters? I used to go over my overdraft limit all the time a couple of years back and never once got a letter warning me about it.

― RickyT (RickyT), Monday, 14 October 2002 10:14 (twenty-three years ago)

RickyT, you're a student aren't you? I can tell.....

― Plinky (Plinky), Monday, 14 October 2002 10:18 (twenty-three years ago)

I am not

― RickyT (RickyT), Monday, 14 October 2002 10:23 (twenty-three years ago)

Possibly more useful information: I was last a student in 1999-2000, but the overdraft limit exceeding years were the two before that, when I had a full time job.

― RickyT (RickyT), Monday, 14 October 2002 10:25 (twenty-three years ago)

And maybe I'm being a little over-sensitive here, but I'm mildly pissed off at your supposition for reasons I can't quite explain.

― RickyT (RickyT), Monday, 14 October 2002 10:27 (twenty-three years ago)

I never got them but Isabel does. I think there's probably a formula for the warnings depending on the inflow of cash into the account and the size of the overdraft i.e. my income is more regular and larger than hers therefore I get away with more cos they dont want to put me off banking with them.

― Tom (Groke), Monday, 14 October 2002 10:29 (twenty-three years ago)

Humble grovelling apologies.

― Plinky (Plinky), Monday, 14 October 2002 10:31 (twenty-three years ago)

one year passes...

I would like to ask, not about terminology, but about insurance.

Is contents insurance worth having?

If so, then to whom, in the UK, should I go to get it? Can anyone give me a better rate than, say, £20 a month?

Is it best to look on the internet? If so, how exactly should I do that?

This looks a dull line of inquiry. Perhaps it is; but better to pose it here than to pursue it at parties.

― the bellefox, Saturday, 9 October 2004 08:51 (twenty-one years ago)

If you own some stuff, contents insurance is worth having. Imagine someone nicked all your guitars, computer, digital camera etc, or if your house burnt down and you had no clothes/possessions.

Try googling "cheap contents insurance" and seeing what comes back.

― ailsa (ailsa), Saturday, 9 October 2004 09:15 (twenty-one years ago)

The problem for me is that it's really hard to get proper insurance for records, at least when you're in rented accommodation.

― Alba (Alba), Saturday, 9 October 2004 09:18 (twenty-one years ago)

I remember the use of "products" as far back as the 70s in fiduciary terms. As a student in banking school, this was confounding to me. Yeah, I too, always imagined products to be something of a physical nature.

Why do they call it that? Because somebody slick with words, and not too versed in grammar made it stick, I suppose.

I still don't agree with the usage and will not conform to it.

― jim wentworth (wench), Sunday, 10 October 2004 00:49 (twenty-one years ago)

This is thread is bound to send me into a furious rant on the word "brand".

― Hurting (Hurting), Sunday, 10 October 2004 01:02 (twenty-one years ago)

Insurance is so complicated. I just rang a Scotsman who told me he thought it was simple, on the www. I am sorry to bother you, I said. That's OK, he said.

― the bluefox, Friday, 15 October 2004 16:25 (twenty-one years ago)

It's a true story.

― the bellefox, Friday, 15 October 2004 16:25 (twenty-one years ago)

one year passes...

what building society are you with. i need a new building society for savings account. want good interest, and ability to manage online

― terry lennox. (gareth), Friday, 11 November 2005 09:55 (nineteen years ago)

the nationwide is very close to my house. my current one doesnt have any convienient branches at all, and i do need to be able to deposit cash

― terry lennox. (gareth), Friday, 11 November 2005 09:55 (nineteen years ago)

Seem to remember Nationwide is good for one reason - their charges for ATM withdrawals made abroad are/were the lowest around.

― Alba (Alba), Friday, 11 November 2005 11:02 (nineteen years ago)

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