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An article written by Rob Carrick (Globe & Mail personal finance columnist) in today’s paper, paints an interesting picture of both consumer behaviour and customer service.

On one hand, many Canadians are willing to allow funds to slosh around in bank accounts that yield minuscule returns. Shame on us for either not being aware or not caring.

On the other hand, our chartered banks are quite happy to pass along to borrowers the interest rate hikes that get mandated by the Bank of Canada. However, they tend to tarry if rates go down. Likewise, in a rising interest rate environment, none of them seem anxious to reward us (i.e. customers) with improved interest rates on our savings. They don’t mind lending out our savings multiple times but they seem loath to reward us with increased saving rates.

And I thought that we couldn’t have our cake and eat it too!