Banking institutions urged to look after all customers by Finance News Bulletin

Published: 14/06/07

The UK's financial services providers have been called upon to ensure that no banking customer is overlooked in the coming year.

It comes as banks across the country prepare to announce their financial results for the last 12 months, with many banking industry analysts predicting another year of record profits .

Now, the National Consumer Council is urging banks to increase interaction with its customers by sending out weekly text message alerts and conducting one-on-one interviews when a new account holder joins.

And it has suggested that standardisation of features should be introduced for all basic bank accounts, which are designed to give people with poor credit histories more access to banking facilities.

"We want banks with a heart, particularly for customers who are most dependent on them, such as elderly people those with disabilities and people on a low income," remarked Ed Mayo, chief executive of the National Consumer Council.

A basic bank account typically offers a range of financial services, such as a current account to encourage financial management and a debit card to ease spending.

Frequently, however, it does not include an overdraft to discourage banking customers from accumulating large debts on credit .

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