Business News

Why don't we read the fine print? Because banks know the pressure points to push

Written by Paul Harrison, Director, Centre for Employee and Consumer Wellbeing; Senior Lecturer, Deakin Business School, Deakin University

Scarcity, trust and repetition are all pressure selling tactics that can be used to manipulate us.Sam Breach/Flickr, CC BY-NC-ND

The Financial Services Royal Commission has exposed the pressure selling tactics used by the banks. They draw on simple psychological rules to target vulnerabilities among some of their most loyal customers.

One example...

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