What if banks started offering tips to consumers on how to maintain or regain control over their financials? Would this help gather some long lost sympathy from customers?

Why we ask? Well, US based ING Direct is doing just that, by launching a declaration of financial independence: a new website containing 10 basic principles of smart budgetting. Among the principles are things like ‘we will spend less than we earn’, ‘we will use our home as a savings account’ and ‘we will know the cost of borrowing’.

With the declaration, the bank shows they are an expert in the field and suggest they can help families make ends meet. Also, they want to reestablish a feeling of togetherness. ‘If everybody lives by these basic principles, we can together build a stronger nation.’

Brownie points?
Does this new approach give customers a warm fuzzy feeling inside? Or will people see right through it, thinking that no bank can give objective information on financial planning? This latter response is not unlikely, looking at our second street report. Most of the people we’ve talked with are not very impressed with the help, advice and gifts offered by banks. Let them prove they are really set to improve their ways, seems to be the general sentiment. What do you think? Can a bank score brownie points by offering well meant financial advice?