It is an odd coincidence that the four worst banks for customer service also happen to be the four that our owned by the taxpayers through the huge banking bailout that followed the credit crisis.
Halifax and Bank of Scotland, and Lloyds TSB apparently offered the poorest customer service despite the massive £21 billion that they received in a handout from the banking public, who currently lay claim to over 40% of these banks shares.
All of these banks are part of the Lloyds banking group which all yesterday announced that it had returned to profit. It is not unreasonable to assume that at least part of this profit came from failing to provide the public with the service they deserve.
The country’s largest bank is managed to cut its bad debts and is looking forward to a good year end profit. The worst offender named by consumer magazine Which? for its poor customer service was the other government funded bank, Northern Rock, the only difference between this bank and the other four bad performers is the fact that it is 100% owned by public funds.
Coinciding with this condemnation of poor quality banking facilities is action from the FSA, Financial Services Authority who assert that they are about to make decisive moves against the banks in relation to what they call “unacceptable standards” in their dealings with public complaints.
According to the FSA the award for the one of the worst offenders in terms of customer satisfaction is the Bank of Scotland which managed to score a massive 41% in customer disappointment. For this score is incredibly overshadow by First Direct who manage to satisfy a mere 9% of their clients leaving an incredible 91% unhappy with the service they receive from the bank.
All the banks combined could only manage a meagre 61% in the customer satisfaction figures.