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NCC: Banking services should match profits
19/02/2007
Banks should improve their customer service and consider those who are dependent on them, the head of the National Consumer Council (NCC) asserts.
The statement, from NCC chief executive Ed Mayo comes ahead of the announcement of financial institutions' profits, prompting a call for levels of customer service to match profits.
Previously, the NCC recommended banks install new local basic bank account specialists to ensure compliance with access rules.
In addition, the group advised financial services providers to implement changes to approve bank accounts, including weekly alerts.
A standard set of account features for all accounts was also called for.
Mr Mayo says: "It's high time that the banks' world-class profits came with world-class customer service."
He claims that some banks "have taken significant steps to make their basic bank accounts work well" but maintains that others have not made sure their accounts meet their customers' needs.
The statement, from NCC chief executive Ed Mayo comes ahead of the announcement of financial institutions' profits, prompting a call for levels of customer service to match profits.
Previously, the NCC recommended banks install new local basic bank account specialists to ensure compliance with access rules.
In addition, the group advised financial services providers to implement changes to approve bank accounts, including weekly alerts.
A standard set of account features for all accounts was also called for.
Mr Mayo says: "It's high time that the banks' world-class profits came with world-class customer service."
He claims that some banks "have taken significant steps to make their basic bank accounts work well" but maintains that others have not made sure their accounts meet their customers' needs.