TSB has fallen from the 4th to the 11th place in a banking customer service poll after the recent IT disasters that have been experienced by t.
Forty-nine percent of those who rated the service of TSB in the poll that was conducted by MoneySavingExpert.com rated the bank as “poor” with only 23 percent saying that its service was “great.”
This year, TSB has been shaken by various IT failures following the botched migration of the records and accounts of approximately 5.2m of its customers from Lloyds Banking Group, its old owner, to Spanish bank Sabadell, its present owner.
First Direct was able to retain its top spot in the said poll with 89 percent of those rating the bank reporting that it offers “great” service.
Challenger banks Starling and Monzo were also a hit with the customers, however, they were not able to receive the required number of ratings to be included in the final rankings.
The money editor at MoneySavingExpert.com, Gary Caffell, stated: “Customer service is key for bank accounts. For most, it’s the part of their finances they use most often, so if things go wrong it can have a real impact, as shown by TSB’s fall from grace this year.”
He added: “Our poll also shows that the old-school providers are increasingly threatened by challenger banks, which consistently get top scores for service − if the traditional banks don’t up their game, they’ll lose out to new challengers.”
A spokesperson from TSB stated: “We’re sorry for the problems customers experienced as a result of our IT switch. Regrettably, this is why our scores are low in this poll. Our priority is putting things right for our customers and we’re making good progress with improvements in our service levels.”
There were around 4,997 votes. The rankings based on two points for every “great” percent, one for every “OK” per cent and zero for “poor.” When the scores are tied, the bank that has the better “great” rating goes ahead.