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By Helen Storey
Staff Writer
Thursday, 11 September 2008
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Best bank: Co-op; Worst Bank: Abbey
Results of the survey in descending order:
- Co-operative Bank
- Nationwide
- Royal Bank of Scotland
- Alliance & Leicester
- Halifax
- Natwest
- Lloyds TSB
- Yorkshire Bank
- HSBC
- Bank of Scotland
- Barclays
- Clydesdale Bank
- Abbey
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CO-OP bosses will be doing a small jig on the boardroom table this week, as the ethically-minded bank was revealed as the new top dog in a recent banking satisfaction survey.
The JD Power study, which spanned 13 major banks and building societies revealed the best and worst of British financial institutions.
Pipped at the Post
Coming a close second, and losing out on last year’s poll position was Nationwide building society.
Nationwide hit the headlines this week following their merger with the Derbyshire and Cheshire building societies, despite having also been on the bad end of the news over the last year in regards to ISAs and security issues.
Satisfaction Areas
The annual survey was based upon information from over 3,000 customers, and rates customer satisfaction in the areas of:
- Transactions
- Fees
- Account opening/product offering
- Problem resolution
- Convenience
- Account Statement
Last Place
Forlornly bringing up the rear, once again, is Abbey, who has claimed bottom place for the second year in a row.
The survey showed the 85% of customers would prefer a UK-based contact centre for customer service.
This could could go some way to explaining Spanish-owned Abbey’s regular appearance in the bottom slot, following the relocation of most of their service centres abroad.
The study also showed that nearly 1 in 5 customers have had a problem with their bank in the last 12 months.
However despite recent economic instability, and the furore surrounding 'unfair bank charges', the general satisfaction levels amongst UK bank users have risen compared to last year.
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