banking

8 tips to resolve complaints against banks

When consumers complain to their banks
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When consumers complain to their banks © Robert Kneschke/Shutterstock.com

When consumers complain to their banks

When it comes to customer service, the banking industry is certainly not at the top of the pack.

That's putting it mildly, according to some recent surveys. Analytics firm ForeSee in December ranked the financial services sector as a whole as the worst of any industry in customer service.

Meanwhile, research from Carlisle & Gallagher Consulting Group, a consulting firm for the financial services industry, found that 1 in 3 bank customers have had a problem that's never been completely resolved. Of the complaints that are resolved, 72 percent required the customer to have two or more interactions with the bank.

"We thought that was shocking," says Patricia Sahm of Carlisle & Gallagher. "There's a gap between how banks think they're resolving things versus how customers think things are being resolved."

Banks are working hard right now to provide better customer service, especially since the advent of the Consumer Financial Protection Bureau, says Pamela Banks, senior policy counsel for Consumers Union.

Still, in large part, it's up to the individual consumer to advocate for themselves to get a problem with their bank resolved.

Here are some things consumers can do to try to ensure their problems are heard by their banks.

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