|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




Co-operative bank tops customer satisfaction league

Bookmark and Share

by Gill Montia
Co-operative bank tops customer satisfaction league

Banks are giving themselves a pat on the back as the 2008 UK Retail Banking Customer Satisfaction Study reveals that consumers are happier with their banks than a year ago, despite the challenging economic climate.

The report is compiled by J D Power and Associates, the marketing information services firm.

It measures customer satisfaction with the UK’s 13 largest High Street banks using six criteria: transactions (branch, ATM/cashpoint, online and telephone); account opening/product offerings; fees; account statement; problem resolution; and convenience.

The study expresses overall satisfaction on a 1,000 point scale and reported a 16 point rise in 2008, to 667.

Fifty per cent of respondents said they have less disposable income in 2008 compared with 2007, but 71% of this group believed that their bank’s stability has not changed in the past year.

The Co-operative Bank ranked highest in customer satisfaction with a score of 746, followed by Nationwide (706) and Royal Bank of Scotland (703).

Key areas for attention among lower-ranking banks include efficiency in resolving problems within the branch and UK-based call centres; avoiding charging customers fees and ensuring that service times are kept to an absolute minimum.

The study also revealed that over 50% of bank customers pay no fees or charges and 85% would prefer customer service operations to be located in their country of residence.

Discuss this in the Finance Markets forums

Story link: Co-operative bank tops customer satisfaction league



News posted: September 11, 2008

Financial Services:





Related financial stories to: Co-operative bank tops customer satisfaction league:
Previous: «
Next: »

Visited 4864 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,