Archive for the ‘financial services’ Topic
News: Consumer Focus response to the final report of the independent Sergeant review into simple financial products
Published: 13 March 2013
Christine Farnish, Chair at Consumer Focus, said: ‘This report on Simple Financial Products could mark a watershed moment in the evolution of retail financial services markets. ‘Simple products are long overdue. They would, at long last, provide consumers with the option of no frills, no catches products that people can understand and buy with confidence. [...]
Publication: The best of British banking
Published: 5 November 2012
Basic bank accounts are an example of how the financial services industry can get it right. Initiated by the Financial Inclusion Taskforce in 2003 to tackle the problem of financial exclusion, basic bank accounts have succeeded in bringing the benefits of a bank account to millions of UK consumers. As our report shows, a fifth [...]
News: The Best of British Banking – Consumer Focus calls on banks to ensure the successes of the basic bank account are not swept away in a race to the bottom
Published: 2 November 2012
Consumer Focus’s report, “Best of British Banking”, shows that the basic bank account1 has been a great unsung success story, yet its achievements are under threat as more banks are reducing what these accounts offer. Royal Bank of Scotland Group (including RBS, NatWest and Ulster Bank) has joined Lloyds Banking Group in withdrawing access for [...]
On a whinge and a prayer
Published: 19 October 2012
Have you ever had that sinking feeling when you’ve had bad service from a company and realise you can’t ignore the matter – you’re going to have to ring up or email customer services and make a complaint? The last time left a bitter taste in your mouth as you were passed between call centres on the other side of the world. We commissioned research to find out what people’s experiences of companies’ complaint procedures and ombudsman services have been in six different markets: legal services, gas and electric, mail, telecoms, water, and financial services. We asked 800 people to fill in an online survey and we also organised three in-depth focus groups to find out how the service might be better.
Publication: Dealing with dissatisfaction – Complaint handling in energy, water, telecoms, financial and legal services and Royal Mail
Published: 19 October 2012
This report looks at customers’ experiences of the complaints procedures in Royal Mail and five different markets: legal services, financial services, telecommunications, water and energy. It also looks at experiences of the ombudsmen services in the same markets.
News: Cause to complain – new report from Consumer Focus looks at complaint handling in energy, water, telecoms, Royal Mail and financial and legal services
Published: 19 October 2012
A review from Consumer Focus explores consumer experiences of complaining to companies in six important markets: legal services, gas and electricity, mail, telecoms, water and financial services. The research reveals that these different markets share similar issues regarding complaints handling. Other research from Consumer Focus suggests that one in six consumers have made a complaint [...]
News: New report looks at the extent of consumer detriment in Britain
Published: 12 October 2012
Consumer Focus today publishes new research into consumer problems in 51 key sectors of the economy between March 2011 and March 2012. The Consumer Detriment survey is intended to help build the best picture of where particular types of detriment occur, who it affects and what the scale of the problem is. This insight is [...]
News: Co-operative Banking Group announces basic bank account changes
Published: 17 September 2012
Responding to Co-operative Banking Group’s announcement that its basic bank accounts will no longer be available to consumers with undischarged bankruptcy, Sarah Brooks, Director of Financial Services at Consumer Focus said: ‘This is worrying news for people with undischarged bankruptcy who need access to an account to manage day to day life. Not having a [...]