Customer service top for bank customers

Consumers rate good customer service as the most important requirement for their current account, according to a new study.

Research carried out by Defaqto found that a third of account-holders think customer care is key to their satisfaction, more so than being free when in credit and a good interest rate.

“The research findings send a clear message to the banks that what customers really want is a high quality of service,” David Black from Defaqto said.

“This suggests that good service has a value that exceeds the monetary advantages of having an account which is free to operate or which pays a good rate of interest.”

Other factors that respondents cited as important were benefits like insurance and low penalty fees.

A separate report from Alliance & Leicester revealed that while 3.4 million Britons regard money as their biggest concern, 45 per cent of bank customers have never switched.

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