Customer service more important than gimmicks
Consumers are more likely to switch banks because of a bad experience rather than for gimmicky rewards and incentives, according to a survey from technology company NCR.
Almost half (49%) of consumers would change banks because of bad customer service - more than twice the number (22%) of people who would change providers because of rewards and incentives.
"Despite financial services providers' best efforts to entice customers with rewards, ranging from insurance, airport lounge access and cash, it's a good customer experience which matters most to Britons," says Ben Gale, spokesperson for the European branch of NCR.
The survey also asked consumers to reveal their biggest banking bugbears. Long queues in branches and restricted opening hours came top of the poll.
Gale says: "Banks now need to deliver a more efficient, customer-focused and innovative offering than ever before to reconnect with consumers to earn their loyalty and spur them to switch."
Moneywise Consumer Opinion Survey
Despite customer service being important to consumers, a fifth claim they are unable to pick out a single bank for superior customer service.
To help you find the top providers when it comes to delivering customer service, check out Moneywise's Customer Opinion Survey 2012.
The survey, which had more than 12,000 respondents last year, reveals the companies you rate the most, and the least, for the service they provide.
Moneywise's Consumer Opinion Survey 2012 is now open. To cast your vote, go to http://www.moneywise.co.uk/news-views/moneywise-consumer-opinion-survey-2012