April 2013
Featured in this insight: Financial services
Market research finds quarter of Britons endure problems with their bank: A new survey of 2,029 adults by consumer group Which? has revealed that as many as a quarter (25%) of UK customers has experienced problems with their bank in the past year.
The survey investigated current account problems and complaints made to 12 banks and building societies, namely Lloyds TSB, Co-operative Bank, Bank of Scotland, RBS, Barclays, Santander, Halifax, NatWest, HSBC, Yorkshire Bank, Nationwide and First Direct.
The highest proportion of people experiencing problems in the past year were customers of Lloyds TSB, with the prevalent gripe being difficulty changing their address or personal information. This was followed by the Co-operative Bank and the Bank of Scotland, the latter having received may complaints over their poor customer service. Furthermore, Barclays had the highest proportion of customers reporting issues with incorrect charges.
In contrast, First Direct and Nationwide showed the least customer complaints.
The most common problems reported by respondents were difficulty in reaching an adviser, poor customer service and the bank attempting to sell them inappropriate products.
Additionally, a fifth of customers who complained to their bank claimed the problem was not resolved to their satisfaction.
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