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PPI: Consumers urged not to put up with bad service from banks

UK consumers should not put up with poor quality customer service from their banks, according to an expert.

Recent research from Consumer Focus has revealed that nearly a third of customers who have thought about switching are not happy with their bank but failed to move to another provider.

The majority of these respondents were put off by the potential pitfalls of switching banks, with many concerned about the transfer of wages and direct debits.

Stefan Maryniak, personal finance expert at a financial comparison website uswitch.com, claimed the switching process is now "quick and easy" as banks have finally "got their act together".

He said: "We won't put [up] with bad service or a poor deal in other areas of our lives, so why do we do it with our banks? If you are sticking with a bank, but are unhappy with the service or the interest rates or charges, you are losing out."

Mr Maryniak added that by not moving to another account provider, customers are losing out on "some great switching incentives".

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt. ADNFCR-2776-ID-800119827-ADNFCR



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