Bank branches 'will become key battlegrounds'

05/11/2009

Bank branches will become the key battleground for lenders trying to draw in customers and sell their products.

That's the view of Deloitte's head of retail banking consulting Neil Tomlinson, who told the Moneyfacts Group that branches will make or break a bank's appeal to consumers.

Recent research conducted by Deloitte found that a personal service is more important to consumers than rates of interest.

Some 53 per cent of people said that being able to visit their branch is important to them when deciding where to put their money.

Debt solutions firm EuroDebt says that with complaints about bank customer service and over-charging at record levels it would make a refreshing change for people to have quality face-to-face contact with bank personnel that are empowered to deal with customer financial problems.

People want access to genuine advice where they feel that by contacting their bank, as recommended, that they are treated fairly and offered potential solutions to their problems or questions.

EuroDebt has introduced its prepaid bank account because many people find it difficult to get basic bank accounts or feel that their relationship with their bank has broken down irreparably.

• Share
• 
• 
• Store
• 
• Follow
•