A survey for the BBC has found that despite masses of complaints against banks, high-profile court cases against them and blame for causing the credit crunch, most of us are still happy with the service we receive from our banks.
Some 92% of bank account holders questioned had not changed their banks in the past two years and 93% of those people were happy with their service. Only 7% of people with bank accounts are likely to switch in the next year, suggests the survey of 1,001 adults, of whom 96% had a bank account.
The British Banking Association naturally claimed that the survey results show the majority of customers are happy with their banks, and that the banks have been working hard over the last couple of years to improve their image.
But with 48% of respondents thinking that switching accounts would cause problems, and the fact that half of those who stayed with their banks thought there was very little difference between accounts (or at least it’s difficult to compare), it’s certainly not all rosy in the world of banking.
There’s still a need for easier current account comparisons, as well as innovation to give customers a reason to move accounts.
photo credit: TheTruthAbout…
Look at Trust Pilot reviews of Barclays Investments…dreadful! They have lost my wife’s investment ISA from 2016 and are not interested in finding it! The administrative rigmarole in trying to deal with this is unbelievable. You would think that it is their money and not hers. To cap it all, our town branch of Barclays has just closed pushing us all online.