10 September 2007
Good customer service has been rated the most important feature of a current account, recent research by financial research company, Defaqto, has revealed. According to their survey exactly one third of current account holders rate customer service as their main requirement in a current account.
An account that was 'free when in credit' and one which had 'a good interest rate' was the most important feature for 28% and 20% of people respectively, the report found.
Commenting on the findings, David Black, Principal Consultant for Banking at Defaqto, said: "The research findings send a clear message to the banks that what customers really want is a high quality of service. This suggests that good service has a value that exceeds the monetary advantages of having an account which is free to operate or which pays a good rate of interest."
"Customer service is the only feature in the research that could not be readily quantified, so it is not surprising that banks concentrate on publicising those things that can be when they set out their stalls.
"There is an appetite among account holders for good service and banks which provide this will undoubtedly benefit."
© 2008 Adfero Ltd
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