Over a quarter of small businesses have been dissatisfied with the support offered by their high street bank in the last 12 months, it has been reported. The Federation of Small Businesses (FSB) latest monthly survey reveals that 1.2 million companies have been unimpressed by the services offered by their bank during this period.
According to the survey, the highest dissatisfaction rates were witnessed among businesses which have had multiple business account managers over the year. Just 13 per cent of those whose account manager remained the same had cause for complaint, rising to 52 per cent for those with three different managers, 53 per cent for four and 70 per cent for five.
And despite 26 per cent of firms saying the working relationship they have with their bank manager influences their choice of provider, as many as 46 per cent of respondents' managers were not based locally.
Gareth Osborne of APA said, "It is imperative that the banks start to engage with their customers again. The average firm surveyed had held their account at the same bank for 14.7 years. When they first started banking there, the manager would have known their name and the business and would have been the one to make a decision about the account, not a centrally-based computer as happens now. Bankers have become ‘slick and arrogant’ and these are not qualities we appreciate in our professional service providers."
Gareth, APA
According to the survey, the highest dissatisfaction rates were witnessed among businesses which have had multiple business account managers over the year. Just 13 per cent of those whose account manager remained the same had cause for complaint, rising to 52 per cent for those with three different managers, 53 per cent for four and 70 per cent for five.
And despite 26 per cent of firms saying the working relationship they have with their bank manager influences their choice of provider, as many as 46 per cent of respondents' managers were not based locally.
Gareth Osborne of APA said, "It is imperative that the banks start to engage with their customers again. The average firm surveyed had held their account at the same bank for 14.7 years. When they first started banking there, the manager would have known their name and the business and would have been the one to make a decision about the account, not a centrally-based computer as happens now. Bankers have become ‘slick and arrogant’ and these are not qualities we appreciate in our professional service providers."
Gareth, APA
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