Despite our calls for banks to improve their standards of service, for a second year in a row we’ve found that their staff’s knowledge is extremely poor.
Posing as customers, we visited six branches and made six phone calls to 12 Isa providers, and asked them six straightforward questions about Isas and the savings reforms. Over half of the providers we tested got fewer than half of the questions correct.
Eight in ten staff couldn’t even tell us what the 2016/2017 Isa limit is (it’s £15,240 in case you wondered). One bank even suggested we use the internet to find the answers to our questions!
Our executive director Richard Lloyd said:
‘Bank staff are letting customers down with shockingly poor knowledge on how Isas work. There’s really no excuse for this, especially when it could be leaving people out of pocket.
‘Disappointingly we’ve seen very little improvement on last year’s scores, which shows banks still need to do much more to up their game to ensure they have the right information and systems in place that consumers can rely on.’
Our campaign is calling on the Government, regulator and banks to deliver better everyday banking. We want the knowledge and expertise of staff to be recognised as a key measurement of banks’ customer service, which would help you choose the right bank for you. This undercover investigation clearly demonstrates the importance of this.
If you back our calls for change in the banking industry, them please join more than 40,000 others in signing our petition.
Two of the big banks have come out in support of our Better Banks campaign, which calls on the industry to deliver better everyday banking for their customers.