Wednesday, April 8, 2009

Irony in an E-mail

So the other day I’m sitting in my office minding my own business when I get an e-mail from the Bolder Boulder advertising a free entry to the race which is completely worthless to me since I’ve already paid $42 for an entry. I was naturally curious about how to get the free entry and whether I could apply it retroactively so I put down my Bloody Mary and started reading all the fine print. (What, you’re going to judge me for drinking a Bloody Mary at work? It was too early in the day for scotch.) The basic premise of the e-mail was that if you open a free checking account at the bank that sponsors the event you get reimbursed your entry fee. (Note: It’s not the bank that I work for but I’m still not going to name it. I fully realize that you could easily find out which bank it is by looking online at the sponsors for the Bolder Boulder, but if you’re anything like me then you’re way too lazy for that and if any of you post the name of the bank in the comments your comment will be deleted. Go ahead, test my resolve on that one.)

Here’s what the fine print said (emphasis mine):
Minimum opening deposit of $50 required to receive the gift. To be eligible for the award, you must open your new personal checking account between April 1, 2009 and May 22, 2009. The $42 award is considered interest and is subject to IRS and other tax reporting. The award will be given at account opening. The $42 award is considered a bonus that can be revoked if the account is closed within 6 months of opening.
If you’ve been paying attention to what’s been going on with banks, and in particular AIG, lately then you can see where I’m going with this. If you’re not keeping up on your current events then you can stop reading right now, you mouth-breathing simpleton. The bank is threatening to revoke your bonus! They actually put that in writing. This couldn’t be more ironic if Alanis Morissette wrote a song about it. I also like how they’re clear about telling you that it is subject to tax reporting, kind of like how executive bonuses at banks are now subject to a 90% tax. It’s almost like they’re trying to stick it back to you for revoking their bonuses.

I can totally see all these big execs sitting in a conference room (I picture them like the stodgy old guys in that WaMu commercial) thinking up a promotion that gives the consumer a bonus just so they can threaten to revoke it. “It will be hilarious,” they’re saying in my mind. “Yes, yes. It will be even funnier than that one time when Mortimer put dimes in his penny loafers!” Chortle, guffaw.

17 comments:

  1. Oh banking industry. Another epic FAIL.

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  2. So if you make over $250,000 a year, you only get a $4.20 bonus after taxes. I don't think it's worth it.

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  3. What most intrigues me is that Boulder is such a running town that this would be considered incentive for enough people that they'd bother offering it. While your banks are dodgy, at least your people are fit.

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  4. Interesting... and yet giant fail. Thanks for reassuring me that the banks system is failing.

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  5. Open an account under the name "Usain Bolt," then kite checks for six months. They'll either arrest you or offer you a federal job.

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  6. Awesome. I hope the big guys at my bank don't read your blog.

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  7. Not sure I see the irony, and if you listen to Alanis' song she hasn't the first clue about the definition of the word. Anyway, sounds like a scam all the way. What are their monthly service charges over 6 months? I bet they add up to right around $42. And how much money would you have to put in there to earn $42 in interest over 6 months? More than I will ever have, I suspect.

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  8. But you know a few folks are going to do it, right? The same people I have to stand in line behind at department stores as they open new credit card accounts for that 10%, one-time discount...

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  9. so I give them $50, and they pay for my entry into a race which is only $42 to begin with. Unless I just don't have a bank account, this deal has zero incentive.

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  10. The one thing I like is that it shows how much the banking industry finally "gets it" and are on the road to recovery. As a gesture of good faith, they simply want to pay* your** entry*** fee****.

    * if you open account
    ** if you keep account open
    *** if you comply with all tax laws
    **** if qualify for all other requirements.*****
    ***** other terms and restrictions may apply.

    What could be simpler? Sounds good. Where do I sign up?

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  11. You got an account to open and I got a car to sell you...but I'll give you a free entry!?! I don't know why but that killed me. Such a deal, better jump on it right now, hahaha.

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  12. Heh, Mortimer. That name just makes me smile.

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  13. Jeeez! I hate to say this, but what is this country coming to? I just broke my teenage promise to myself to NOT EVER sound like my parents- but really, what the hell?

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  14. I'm still stuck on your Bloody Mary~dayum that's hard core dude. LOL....

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  15. Ahahahahah....I randomly picked a local bank to see what other wondrous offers might be out there for me to contemplate against the "free" Bolder Boulder entry on my bad-decision matrix...and the one I randomly (ok not random-number-generator-randomly, but first-bank-jingle-that-popped-into-my-head-randomly) just happened to actually be this bank (which I discovered by visiting their website. I will not name it, as requested.

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  16. So what if I named every major bank except for the race sponsor? Would that too be subject to your resolve?

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  17. The ten thousand spoons tag cracked me up.

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