Poor banking service ‘lets down’ customers
A CONSUMER charity has accused the UK’s major high street banks of “letting down” their customers.
A survey carried out by Which? found that all of the major banks scored below average for customer satisfaction. The consumer group asked its members, over the past year, how satisfied they were with the services provided by 30 financial brands.
Santander and Halifax scored the lowest results with just 46 and 48 per cent of their customers saying they were satisfied – well below the average score of 62 per cent. Also performing poorly were Bank of Scotland, which scored 49 per cent, Royal Bank of Scotland at 50 per cent, Lloyds at 51 per cent, Barclays at 54 per cent, NatWest at 56 per cent and HSBC with 60 per cent.
Yet, these banks dominate high street banking, accounting for more than 80 per cent of the current account market, Which? said. Executive director Richard Lloyd said: “Consumers are constantly being let down when it comes to customer service.
“This is not good enough, we want to see fundamental changes in the culture o and a return to banking for customers, not bankers.”
Top of the table for customer satisfaction were First Direct, the One Account and the Co-Operative Bank, which scored 86, 80 and 79 per cent respectively.
Respondents were asked how satisfied they are with their current account, savings account, credit card and mortgage provider for the main UK financial service providers and whether they would recommend them to a friend.
Members were asked to rate their bank on aspects of their services, including customer service, how good banks are at resolving problems, how knowledgeable bank staff are and whether banks keep their customers informed about charges and the best deals.
Savings account customers were the most unhappy, with many frustrated that loyalty does not seem to pay and complaining they have to check up on interest rates and switch accounts to get the best deals.
The findings come ahead of the launch of a major new Which? campaign calling for fundamental changes in banking culture to put customers first.
Despite RBS launching its customer charter two years ago to make it Britain’s most helpful bank, Which? said it has performed consistently badly in its surveys over the past three years and came 27th out of 30 for overall brand satisfaction this year.
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