RBS named worst bank for cus­tomer sat­is­fac­tion

The Pak Banker - - COMPANIES/BOSS -

Royal Bank of Scot­land has been ranked bot­tom out of more than 30 ri­vals for cus­tomer sat­is­fac­tion, de­spite pledges by the bailed out bank to im­prove its bat­tered rep­u­ta­tion.

The sur­vey, car­ried out by con­sumer group Which? be­tween Septem­ber 2015 and Jan­uary 2016, asked more than 20,000 peo­ple how sat­is­fied they were with their cur­rent ac­count, sav­ings ac­count, credit card and mort­gage provider. As well as plac­ing RBS last, the re­sults put NatWest (which is owned by RBS) in the bot­tom 10 along­side Bar­clays, Bank of Scot­land ( part of Lloyds Bank­ing Group) and Cly­des­dale, which was re­cently listed on the stock mar­ket. Lloyds is tenth from the bot­tom.

Which? said the gap be­tween RBS at the bot­tom and First Di­rect, owned by HSBC, at the top was 21 per­cent­age points, il­lus­trat­ing the bat­tle faced by the 73%-tax­payer owned bank. The con­sumer group pub­lished the sur­vey as part of its cam­paign to en­cour­age the Com­pe­ti­tion and Mar­kets Au­thor­ity to re­think its on­go­ing in­ves­ti­ga­tion into the bank­ing sec­tor. Which? is con­cerned the com­pe­ti­tion watch­dog is too fo­cused on en­cour­ag­ing cus­tomers to move be­tween providers rather than on deal­ing with the way banks treat their cus­tomers and charge for over­drafts.

Which? ex­ec­u­tive di­rec­tor Richard Lloyd said: "It's high time the in­dus­try put its cus­tomers first, and the com­pe­ti­tion in­quiry needs to en­sure banks are held to ac­count for the way they treat them.

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