I saw a headline today about banks "mis-selling" financial products—basically, selling people things they don't need just to meet a goal. It hit home because, for years, my Relationship Manager (RM) has been trying to push "ULIPs" (a mix of insurance and investment) on me by calling them "tax savers" or "arbitrage funds."
In my last talk with a wealth manager, I asked: "If I were your family, would you really tell me to buy this?" He insisted he’d tell his own mother to buy it. I felt for him—he’s likely just trying to hit a target—but I knew better. I asked for the official IRDA prospectus (the legal rulebook of the plan) instead of a simple spreadsheet. I haven't heard from them since!
Lesson 1: Always ask for the official paperwork. Knowledge is your best shield.
A few months ago, my account was marked "irregular," and fees were deducted without explanation. I traveled 20km to my old branch, followed their instructions, and paid a fee—yet no one could tell me why this happened. My emails went ignored. My "tickets" were closed without answers.
It felt like because I was being polite, I was being ignored.
I decided to stop waiting. I filed a complaint with the Banking Ombudsman (an official government body that settles disputes).
The result?
In 2 days: I got my full statement and a clear explanation.
In 3 days: The bank was calling me, begging me to close the complaint.
Sometimes it feels like the world only rewards the loud, the aggressive, or the physically imposing. I found myself asking the Creator: “Why am I petite? How am I supposed to push through?”
But here is what I realized: Systemic power is greater than physical power. You don't need to be 6 feet tall to get a bank to listen; you just need to know which lever to pull. I wasn't being "rude" by filing a complaint; I was being assertive.
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