Six potential benefits of re-evaluating banking complaints and policies

Find out what to expect as the banking industry revamps its priorities.

14:37 16 April 2013

The banking industry has suffered lately from much criticism in the press. They have received multiple complaints, ironically regarding the handling of complaints. There is a very good likelihood that many of us will experience some sort of dissatisfaction with the resolution of a complaint, since banks are an industry that everyone must deal with from time to time, whether it is for a debit or credit card, or to set up a savingsaccount.

 

The British Banking Association (BBA) is reassuring customers that banks take complaints very seriously and are currently working towards methods that will enable complaints to be handled sensitively and capably. Here are a few things that are being considered for those banks with your savings accounts and debit cards:

 

• Professionals who are responsible exclusively for handling complaints
• Streamlined process that will result in swift resolutions
• Improved focus on attention to customer needs
• Creation of a Consumer Panel under the BBA to facilitate communication between customer advocates and the banking industry as a whole
• Increased awareness regarding banking processes
• Re-evaluation of service provided to customers

 

For those of you who have had questions or complaints when trying deal with your savings accounts, debit, or credit cards now is the time to make your voice heard. Banks will be increasingly sympathetic now that issues have been brought to light which could cause consumers to shift their savings accounts along with other accounts away to a competitor.

 

If you suspect unethical practices this should be reported, but for general complaints many banks are making a great effort to address grievances swiftly and ethically. Consumers have the ear of the banking industry right now, thanks to Which? and to others who have pressed for attention to improve processes and standards for people everywhere. Improvements such as these will benefit everyone since nearly everyone has a checking or savings account, or something similar.