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[ MAIN ]BANKING & FINANCENEWS

Study: 61% Bank Customers Decry Hidden Charges

A survey conducted by the NOI Polls has revealed 61 per cent of bank customers believe that commercial banks in the country are exploiting them through hidden charges.
The poll released Tuesday also showed that First Bank of Nigeria Plc was adjudged to have the best customer service delivery. First Bank was closely followed by Guaranty Trust Bank Plc. They were followed by Zenith Bank Plc, United Bank for Africa Plc, Ecobank Nigeria, and Access Bank Plc.
The poll also stated that the banking public expressed concern over the poor service delivery and as well as unexplained charges by banks on their transactions.
It explained: “The need to grow profits is seen as a trade-off for quality customer relationship and service delivery. As the banking industry has gone from about 85 banks to 25 banks to 22 banks over the last decade, there is an increased pressure to stay relevant and profitable in a closely regulated industry.
“This pressure has continued to cause a decline in satisfaction levels with several customer engagement platforms specifically with the old fashioned ‘customer service desk.’ The Customer has become more intelligent on the range of services this function should cover and so have raised the bar of expectations for banks”.

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BWN
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