High pressure sales by a bank?

My friend told me this story.

A bank advertised interest rate of 3% for a fixed deposit of more than $50,000. This is only available when you visit the branch.

If you wish to place the same fixed deposit through their internet website, the bank pays only 1.5% per annum.

When he visited the branch, he is advised by the bank's marketing officer to change to a investment fund or structured product.

My friend is knowledgeable. So, he knows how to resist the marketing pitch.

But he said that less educated people may be persuaded to invest in the risker product, without understanding the risk.

Perhaps, it is time for the bank's marketing practice to be reviewed?