7 tips to resolve complaints against banks

5 min read

The banking industry can do better when it comes to customer service.

The customer experience research firm Temkin Group gives banks a grade of 67% — just “OK” — and says the industry’s rating for consumer satisfaction has fallen from 71% in 2015.

Meanwhile, research from NTT Data Consulting, a consulting and data firm for the financial services industry, found that 1 in 3 bank customers has had a problem that’s never been completely resolved. Of the complaints that are resolved, 72% required the customer to have 2 or more interactions with the bank.

“We thought that was shocking,” says Patricia Sahm, one of the lead researchers. “There’s a gap between how banks think they’re resolving things versus how customers think things are being resolved.”

Banks are working hard 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 consumers to advocate for themselves to get banking problems resolved.

Here are some things you can do to try to make sure your bank listens.

RATE SEARCH: Find the best checking account rates.