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Bank customers call for better service

05 July 2003
Over half of bank customers are dissatisfied with the service they receive from banks, according to a new survey.

A report published this week by Ernst & Young and NOP said that banks had failed to recognise the extent of customers' dissatisfaction with current service levels, and particularly the handling of customer complaints.

The findings serve as a further warning to high street banks to tackle poor customer service or risk losing business.

A recent report by consumer magazine Which? found that smaller banks, and particularly internet banks, scored much higher on customer satisfaction than the big four, and urged customers to switch.

The internet has served to increase the level of competition for banks by lowering the barrier for new entrants to the market, but clearly some customers are seeing the benefits.

Which? urges consumers to shop around - on the high street and the web - to find the best deal.