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BankruptcyNews
Junior Member
358 Posts |
 Posted - 22 June 2007 : 10:25:46
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Three quarters do not trust their bank
Three quarters of people do not trust their bank, a study has shown.
Customers complain of poor service, rip-off charges, a lack of respect from staff, and security failures.
Much of the mistrust stems from the industry's imposition of high penalty charges on credit cards and overdrafts.
The Office of Fair Trading has ruled many of these illegal but the banks have thrown up a raft of obstacles and delaying tactics to avoid making refunds.
The banks have also come under fire for failing to protect customers from ID theft.
In March, 11 leading banks were blasted by the Information Commissioner over the dumping of personal information in the street outside branches.
The research, carried out by technology giant Unisys, said customers felt they were not shown sufficient respect by the banks and their staff. 'Banks need to work on building more personal relations,' it said.
'The results point to a lack of empathy by banks for the needs and requirements of their customers.'
Unisys vice-president of UK financial services Elton Birden said: 'Banks risk a mass customer exodus if they don't get the trust equation right. They must address the growing negative perception of their industry.'
Chief executive of the British Bankers Association, Angela Knight, insisted customers get a good deal. 'It has been independently recognised they offer value for money and services tailored to customer needs,' she said.
The big five banks generated record profits of more than £20bn last year.
Source: thisismoney.co.uk
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Three quarters do not trust their bank
