Even the Co-op bank think their service is rubbish...

14 August 2013

co-op bankPoor old Co-op bank. They’ve been having a few problems recently, and now they are attempting to alienate anyone else who might consider banking with them, by withdrawing their promise of good service.

Currently, the bank offers a ‘service level guarantee’, which outlines five promises of high service levels. If they do not meet any of the promises, they will apologise and give customers £25. The five promises, which will still apply to business customers are:

We promise to begin processing your account application within 48 hours and, if your application is successful, to open the account without error

We promise to set up and pay your standing orders and Direct Debits as instructed and without mistakes

We promise not to make any financial errors on your statements

We will automatically issue your cheque book and cards and make sure you have one available at all times

We guarantee to calculate your interest correctly. Should we make an error, this will be corrected without question.

However, Co-op bank are now advising customers that the service level guarantee is being withdrawn with effect from 16 September. This information has been available on their website for some time, but details are now being sent out to already-nervous customers with their latest statements.

The information sent to customers assures them that “we are not removing your right to express dissatisfaction or complain, and have well-established procedures to allow you to do this. We know that sometimes things go wrong and we really value your feedback" which is a little bit less reassuring than the current claims that “nobody is perfect and accidents do happen but at The Co‑operative Bank we are so sure that these will be few and far between that we have put our money where our mouth is.”

Guess they’re not so sure anymore.

TOPICS:   Consumer Advice

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