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5THINGS Customers Hate About Their Banks

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Blog March 12, 2018 by Melinda Deines
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5THINGS Customers Hate About Their Banks

Melinda Deines discusses the five things that customers hate about banking. Hate may seem like a strong word, but the fact is that there are some pain points that drive customers absolutely crazy.

1. Waiting in line

There’s really no reason to wait in line anymore. Using digital technology, we can completely eliminate this major pain point. You can use digital check-in kiosks and you can use customers’ mobile phones and allow them to sit somewhere comfortably, waiting to be called when it’s their turn.

2. Problem-solving nightmares

Everybody has a nightmare story about something going wrong with their finances and not being able to resolve it easily. So banks really need to think about how they’re dealing with customer problems. For instance, when customers are calling in, is their issue being recorded? Is the recording being digitally captured so that the next person who helps them really knows, and customers don’t have to repeat the same thing over and over again? This is something that really drives customers crazy and it is a major trigger for customers to leave you for another bank.

3. Feeling like a number

Banks really need to use their digital data and personalize the experience, even if it’s just greeting somebody by name when they enter the bank.

4. Banking with kids in tow

Everybody knows what it’s like to have a screaming toddler either behind you in the line or sitting on your hip. And banks can really do very simple things to help keep kids engaged while their parents are banking, whether it’s using a little bit of space or even having some coloring stuff on hand. It’s an easy thing to do, and it can make the experience more enjoyable for everybody.

5. Unexpected fees

When customers sign up for a product or service, they really want to know that the amount that they’re paying, what they’re told in the bank, it’s gonna be exactly what they’re seeing on the statement. Nothing drives people crazy like thinking that they’ve been tricked into paying more than they thought they were going to. So banks really need to be transparent and clear and avoid old-fashioned sales tactics when it comes to signing people up for products and services.

Are you interested in learning more about what customers want from their banks? We have resources:

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