Which? comments as banks are forced to publish customer recommendation ratings

Jenni Allen, Managing Director of Which? Money, said:

“These new rules will give consumers useful information to help them decide which bank they give their business to. Our annual bank survey last year found significant variation in customer satisfaction scores and on complaint handling, with some of the UK’s biggest banks performing the poorest overall.

“Providing rankings on important financial services – such as mobile banking and overdraft services – will paint a better picture of how well banks perform in different areas that people value. We recently revealed that bank branches are closing at a frightening rate of 60 a month, so a recommendation score that incorporates bank branch service might well make some brands reconsider how well they are serving their customers’ needs.”