Would you find this Chase branch practice offensive?

[AllSeasons]

So there’s this local Chase branch in my town that has two entrances. The nice, main entrance in the front of the building is marked for “high wealth” individuals only. Then there’s the little, inconspicuous side door that reserved for “regular” people like you and me. I don’t know about you, but I kind of find this offensive. What are your thoughts on this?

 

[1ke]

So, does the “high wealth” door go to a special area, or does it simply open into the lobby? what happens if you, a non-high wealth individual, uses the high wealth door? How exactly is it marked “high wealth”?

 

[AllSeasons]

So, does the “high wealth” door go to a special area, or does it simply open into the lobby? what happens if you, a non-high wealth individual, uses the high wealth door? How exactly is it marked “high wealth”?

No, I don’t think it opens into the lobby. I’ve never gone through that door, but I believe it’s a special area for wealth management, which is basically a codeword for high wealth individuals.

 

[coachdennis]

Chase, like most businesses offers a variety of services, sometimes other different names. And it is not uncommon to have advertisements for different services over different doors.

There is a simple solution to find out if this is true that post about it online – Go through the door yourself as a potential customer and find out!

Dear friend, as one of my aunts would say, “Your paranoia (like your slip) is showing!”

 

[dshix]

That’s very strange; I’ve never seen that before.

I’m shocked to imagine that businesses are actually trying to segregate classes, if this is what it appears to be.

In any case, shouldn’t the “regular people” entrance be the big one, and the “high wealth” entrance be the small one?

 

[catholicmamajoy]

No, I don’t think it opens into the lobby. I’ve never gone through that door, but I believe it’s a special area for wealth management, which is basically a codeword for high wealth individuals.

As others have suggested, go in through that door and see where it leads. It probably leads to an area in the branch for investment banking or corporate business rather than into the standard teller/customer service line that most people have need of when they come to the bank.

 

[TheWarriorMonk]

FWIW, many banks, especially the larger ones, have different divisions that provide different services. Many people may not realize this because oftentimes these services are not at the same location, though in a smaller town they can be. It’s not simply divided by “wealthy and everyone else.” Large banks and investment firms have various investment products that have minimal dollar entry levels. The also can provide a plethora of other services that may be divided into residential divisions, commercial divisions, estate planning and trusts, etc.

 

[Fairwinds]

So there’s this local Chase branch in my town that has two entrances. The nice, main entrance in the front of the building is marked for “high wealth” individuals only. Then there’s the little, inconspicuous side door that reserved for “regular” people like you and me. I don’t know about you, but I kind of find this offensive. What are your thoughts on this?

does it actually say, “high wealth”? it might be reserved for commercial customers making large cash deposits, etc.

F/

 

[cheezey]

does it actually say, “high wealth”? it might be reserved for commercial customers making large cash deposits, etc.

F/

I was leaning towards this. Not to mention, where the celebrities congregate, i.e., Hollywood, NYC, many businesses provide separate entries. I’d think this to include banks.
But they know this; it is obviously not marked as such, it would defeat the purpose…
I can’t wait til Chase comes to me. Or, better, me to it…

 

[Cat]

I wouldn’t find it offensive. I like efficiency. Banks provide a lot of different services, and it makes sense to divide them into different geographical areas and assign different people to those areas.

One of my pet peeves with banks is finding out that I’m in the wrong line!

 

[dshix]

I was leaning towards this. Not to mention, where the celebrities congregate, i.e., Hollywood, NYC, many businesses provide separate entries. I’d think this to include banks.
But they know this; it is obviously not marked as such, it would defeat the purpose…
I can’t wait til Chase comes to me. Or, better, me to it…

You like chase?

I used to use chase, and they have HORRIBLE customer service. Ugh. One of the most horrid bank firms existent, in my opinion.

 

[JackieMom]

I don’t find it offensive. I’d be striving to make it to the fancy door someday!

 

[cheezey]

I don’t find it offensive. I’d be striving to make it to the fancy door someday!

one day? Know what I’d do? With a meager $5 deposit, I’d walk through the wealthy side now.
And if I were wealthy, I’d walk thorugh the other door to make a point. IF the reason for the 2 entries pertain to willful discrimination.

 

[JackieMom]

one day? Know what I’d do? With a meager $5 deposit, I’d walk through the wealthy side now.
And if I were wealthy, I’d walk thorugh the other door to make a point. IF the reason for the 2 entries pertain to willful discrimination.

The OP already said they lead to different areas of the bank.

 

[cheezey]

The OP already said they lead to different areas of the bank.

gotcha

 

[newlywed8]

No, I don’t think it opens into the lobby. I’ve never gone through that door, but I believe it’s a special area for wealth management, which is basically a codeword for high wealth individuals.

Wait, so the door is actually labeled 'wealth management’?

That is NOT code word for people who are wealthy, that actually just means people who are interested in financial planning, investing, portfolio management, ect. It can also apply to businesses of all sizes who are doing financial planning for the upcoming year or what have you.

You do not have to be wealthy to invest, although many low-income people choose not to. It actually makes sense that this is separate (it is in many places at least cornered off even if there is not a separate door) because they often need to sit down and talk to financial counselors. The other door is just for regular banking practices such as making deposits, withdraws, or opening an account.

This is a total mountain out of a mole-hill.

 

[JimG]

I think that some banks used to have “Trust Departments” that engaged in asset management. Some of those have changed their name to “Wealth Management.” Most banks offer investment management services of some kind, and usually not just to what we would consider the “wealthy.”

After all, when the savings department is paying 1/4 of 1% on your funds, the wealth management department might be a good alternative. When it comes to bank investment management though, I’d be very wary of the size of the management fees. Every area of banking is intended to turn a profit.

 

[WingsOfEagles]

No, I don’t think it opens into the lobby. I’ve never gone through that door, but I believe it’s a special area for wealth management, which is basically a codeword for high wealth individuals.

I don’t think “Wealth Management” necessarily means only rich people. It probably is for anyone who needs to sit down and discuss financial options for investing. For example, even an average working person can save up money and then create a Certificate of Deposit (CD). I would imagine if you were looking to create a CD, you would use the Wealth Management door.

 

[AllSeasons]

Chase, like most businesses offers a variety of services, sometimes other different names. And it is not uncommon to have advertisements for different services over different doors.

Yes, I am aware that banks have different divisions, like consumer banking, wealth management, i-banking, commodity trading, sell-side/buy-side equity, etc. That said, this is the first branch - not just Chase - where I have observed this kind of setup. Granted that it’s located in an affluent suburban town, but still. Also, they’re closing another consumer banking branch downtown, so I’m expecting that a lot of those customers will be migrating to this branch to conduct business.

I mean, they could’ve just had one entrance, and had hallways leading to different offices. If they had that, I’d have no problem with it. But having a main door for rich people and a side door for “regular” people, now that just doesn’t sit well with me.

 

[TheRealJuliane]

Yes, I am aware that banks have different divisions, like consumer banking, wealth management, i-banking, commodity trading, sell-side/buy-side equity, etc. That said, this is the first branch - not just Chase - where I have observed this kind of setup. Granted that it’s located in an affluent suburban town, but still. Also, they’re closing another consumer banking branch downtown, so I’m expecting that a lot of those customers will be migrating to this branch to conduct business.

I mean, they could’ve just had one entrance, and had hallways leading to different offices. If they had that, I’d have no problem with it. But having a main door for rich people and a side door for “regular” people, now that just doesn’t sit well with me.

But people have been telling you, it’s not wealth segregation. You’re letting your own biases color your perception.