![]() ![]() “This customer service research covers 2018 where, regrettably, we had issues moving to a new banking platform. We aim to provide our customers with an excellent service that is second to none, so we will review the findings with interest to identify any areas we can improve.” “We are surprised and disappointed by these results which don’t reflect the results of other independent surveys. We’re investing in dedicated teams focussed on making targeted improvements for customers and rolling out continuous changes to make banking easier, such as our software to help reduce queuing times in branches and the introduction of a paperless mortgage process.” “We know we can do more to improve the experience for customers in certain aspects of our service. RBS Group re Royal Bank of Scotland (16) and Natwest (13): Responses from Banks in bottom half of table (with rank in brackets): Barclays, TSB, Metrobank, Bank of Scotland, Clydesdale, Yorkshire Bank, Co-Operative Bank, Halifax, Lloyds Bank, NatWest, RBS First Direct, HSBC, Nationwide, Santander, Tesco BankĢ. See Customer Authentication chart on the rightĪ ranking for this category was then produced:ġ. Please see the chart below for full data. We looked at how many banks have already introduced Strong Customer Authentication which the FCA requires must happen by March 2021). Introduction of Strong Customer Authentication Bank of Scotland, Halifax and Lloyds BankĤ. These figures were then combined and ranked where 1 represents the “best” value when it comes to overdraft fees, and 16 the “worst”:ħ. Please see the charts below for full data. We looked at how much a customer would be charged for going overdrawn by £250 for 7 days within a current account arranged overdraft, using information from the banks’ websites. Bank of Scotland, Barclays, Co-operative Bank and TSB These figures were then combined and ranked where 1 represents the “best” account setup performance, and 16 the “worst” account setup performance:ĥ. See Account Set-Up Speed chart on the right We looked at official FCA data from the ‘FCA Mandated and Voluntary Information on Current Account Services’ research. These figures were then combined and ranked where 1 represents the “best” performance and 16 the “worst”. See Customer Satisfaction chart on the right We looked at official IPSOS data from the ‘Personal Banking Service Quality’ study requested by the Competition and Markets Authority (Aug 2019). The companies were rated in the following order: Using our overall findings from the categories detailed below, Jennifer calculated ranking of the companies, from “Best” (number 1) to “Worst” (number 16). This research was carried out by Jennifer Rogers, Vice President of the Royal Statistical Society and Director of Statistical Consultancy at Oxford University, using data from Ofcom and from the providers’ own websites. Three categories were analysed: CUSTOMER SATISFACTION, ACCOUNT SET-UP TIMES, OVERDRAFT FEES and whether or not they had introduced STRONG CUSTOMER AUTHENTICATION (enhanced security measures which the FCA requires all banks to introduce by March 2021). The 16 companies used in the calculations are based on the banks with the most active current accounts (more than 150,000 in GB). TSB are headquartered in Edinburgh and led by Chief Executive Officer Paul Pester.A statistician from the Royal Statistical Society analysed the performance of the top 16 banks in the UK, using official data and Watchdog’s own research. The organisation occupies a unique market position in British retail banking as a UK-only values-led challenger brand with the capabilities of a large established bank and the high growth potential of a challenger bank. Having talented, visionary people steering TSB is important to them, and they are led by values, which include being straightforward, collaborative, transparent, responsible and pioneering. They include providing great banking to more people, helping people to borrow well and providing the kind of banking people want and believe they deserve. ![]() Since relaunching onto high streets in September 2013, TSB's three strategic pillars have remained the same. Today, the bank has more than 5 million customers and comprehensive distribution and product capability, including 550 branches across the UK. TSB have been providing local banking to people, businesses and communities in Britain for over 200 years. ![]()
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