Study says customers want personal touch from their high street banks
MORE than a fifth of banking customers have moved banks over the past two years due to dissatisfaction with the way they were treated, showing the importance of customer service in turbulent times.
According to a YouGov study for the Deloitte, the amount and accessibility of branches, along with face-to-face interaction, remains a key consideration for customers, with more than half of respondents saying they would only place their savings in a bank with branches they could visit.
Over 60 per cent of those asked have their current account where they get the best level of service, whereas only 30 per cent choose to have their current account where they earn the highest credit interest.
“With banking customers more aware of their finances and taking decisive action to source the best service, and with service-driven new entrants on the side-lines, banks need to ensure that they are meeting these demands if they are not to run the risk of just competing on price,” said Deloitte head of retail banking consulting Neil Tomlinson.