Stupid Bank Tricks: Bank of Hawaii

As our readers may or may not know, The Brand Strategy Group specializes in building strong brands. We also specializing in recognizing weak or declining banks.

Until recently, Bank of Hawaii had been on our list of declining brands (weak brand reality, strong brand perception) but as far as our perception goes, it has moved to weak brand status (weak brand perception, weak brand reality).

They have been all over television telling us how MSN money judged them a safe bank. Well, here is how they do it: call them the fee finders. For a year or so I have noted that when I pay with a check that is processed electronically, they charge a two dollar fee. That is they charge me for work they don't have to do (process the check themselves).

The other day I noticed a fee for failure to use direct deposit: $1.00. As a small business for which cash flow is a periodic problem, we cannot have direct deposit because we don't always have the money at pay time. On top of that the teller had to determine that it was my paycheck --- or someone at the bank did -- in order to levy that fee. As it turns out, it was not a paycheck but a distribution we were taking.

I have six separate accounts with Bank of Hawaii -- you think they might connect this and waive these stupid only-for-the-purpose-of-raising-money fees. Maybe I should just move my money.

At any rate, these experiences don't help the Bank of Hawaii's brand which seems at best, mercenary and at worst ignorant. Don't get me started on the generic FIA card services that they hide their "bank of Hawaii "credit cards in front of.

Pictured here: the person behind the fees?