Worst bank for customer service? It's that new, friendly bank...
It seems new things aren’t always the best. A new poll rating banks on their customer service has placed one of the UK newest banks, TSB, squarely at the bottom of the pile.
TSB, which was carved out of Lloyds last year, has been named the worst bank for customer service in a poll of almost 9,000 people. Only 37% of customers rated its service as "great", and 20% described it as "poor" in the survey by MoneySavingExpert.com.
In response, TSB chief executive Paul Pester said that "any customer who feels unhappy with TSB is one too many for me” but that he was "not surprised" that so many of the 4.6 million TSB customers were upset and had rated the bank badly.
"Given what we had to put our customers through last year to create TSB, and given the well-publicised failure in Lloyds Banking Group's systems which affected our customers I'm not surprised some customers are upset: I would be", he said.
However, he stressed that the bank was prioritising customer service and that they “won’t rest until 100% of our customers score us 10 out of 10." Lloyds itself fared slightly better scoring 45% for 'great' customer service.
The full breakdown of the rankings are as follows:
The single horse in the one-horse-race First Direct was yet again ranked top, with massive 92% of its customers ratings its customer service as "great". First Direct has won every single MoneySavingExpert customer service poll since they began in 2008.
But the biggest improver is Spanish bank Santander, which was bottom five years ago, and has now reached the lofty heights of second place with its popular cashback 123 current account, and fifth overall. Despite various scandals, Co-operative Bank came in third place, down a place on the last survey. Keeping TSB company at the bottom were RBS and Natwest, who have also been plagued with computer problems in recent times.