Counterfit Money


I was on the treadmill one day and a friend stops by to chat. We go over all of the pleasantries and get down to “What is new?” Well I wasn’t prepared for the discussion that was about to take place. Ill give you the “headlines” as my Grandfather always said. Which means ill give you the gist of the discussion so your not reading through 10 minutes before we get to how this pertains to business.He begins with… “I received counterfeit money from TD Bank. When I received a report on the lack of authenticity from another bank they told me it wasn’t their problem and their tellers are not responsible for counterfeit money in their tills. They then directed him that the best thing he could do was to claim it as a loss on his taxes.”

Now when I think of a bank I certainly don’t think that i would have a problem with receiving counterfeit money from them, let alone being brushed off by the branch manager. If i was the Branch Manager I would have made sure to address his problems directly and explain what company policy is, bring it to the attention of my superiors, and apologize for the inconvenience. How your representatives handle customer relations can make all the difference. Which most of us know already… but it can be as simple as him having a bad day and answering curtly or having a dismissive tone. Well later you will find out just how much the tone of TD Bank changed.

I could see how upset he was about the response to the issue of it being counterfeit and how he was treated. So I asked“Do you have Twitter and Facebook on your phone? Because social media is just like the new customer reviews or help line in some cases. I think you should take it there.” Well, that perked his interest. I told him to look up who the President & Regional Manager of TD Bank were, and their social handles. Then to pull up TD Bank on Facebook so we can post on their wall. Which turns out he was not the only person to have this issue lately. Having this information let me know that this post and tweet would hold more weight if targeted correctly because it is already a known issue and there would be alot of users who would be sympathetic to his post.

The plan of action:

  1. Write a post on their Facebook wall. Then follow up with“Like”ing previous post with the same issue. This would bring up the visibility of this problem again.
  2. Write a post on his Facebook wall while tagging TD Bank, the President, Regional Manager with the keyword“counterfeit” and branch location. This would bring their attention directly to him as an individual.
  3. Tweet at optimal visibility times a similar message that he posted on HIS Facebook wall. This could be a few times that day so it gets picked up by their software as a viable issue that needs to be addressed. (No one scrolls through an entire day of mentions. But if at a glance you come up several times and they don’t know who you are; they will certainly find out!)

Results: Within a day!

The regional manager got back to him the next day with an apology and asked for a time that fit his schedule where they could meet at the Branch and go through some paper work. At the conclusion he would be issued a new bill. The branch manager was also present and apologized as well.

Moral of the story… social media is a way for customers to interact with you and your brand. If they feel they are being slighted they now have a larger platform in which to discuss and vent these issues. If they can be taken care of before they reach the social platform it is always best. If they directly go to the social platform it is best to address it directly and swiftly. It would also be a GREAT idea to get the customer to give feedback after the resolution to combat that negative rating that was established. Or put up a post about how they are now implementing new measures to combat a reoccurring issue brought to their attention by their loyal clients. For all those who were inconvenienced by this issue we are sorry and intend to work towards the high standards that they deserve from TD Bank. Then direct them to who they can contact about these issue directly. That could keep the negative feedback directed in one place instead of the overall brand; while still showing their ability to act proactively.

Well that is my counterfeit money story and how I helped solve it through social media. Now my friend has their money back and it has become a discussion at the gym on how to better integrate social media into their business’s. Success! Until next time.