RATE SUBJECT TO CHANGE?

American Express Gave Clients One Rate, Then Secretly Raised It

SOURCE: WSJ https://www.wsj.com/articles/amex-raised-currency-prices-on-business-clients-without-warning-employees-say-1532943120

There needs to be greater transparency in rate setting. Whether business or personal account, how many people are aware when rates change? Some, but probably not many.

Should a sales manager arbitrarily adjust rates on accounts without any communication to the client? In my opinion, no. Establish rate parameters with sales teams, but do not adjust negotiated rates after the fact.

Bait and switch appears to still be alive and kicking.

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