BBA statement to OFT - Banks agree to make improvements to personal current account m

[Legal Beagles]

Banks are committed to improving the information they provide to customers, helping them understand how their current accounts work and what services cost.

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[Budgie]

Re: BBA statement to OFT - Banks agree to make improvements to personal current accou

The BBA said:

"Banks are committed to improving the information they provide to customers, helping them understand how their current accounts work and what services cost. Improvements continue to be made to the information customers receive and the industry will continue to work with customers and the OFT.
"The industry tries to make moving from one bank to another easier for customers by arranging for regular payments to come from the new account and banks compensate customers if the switching process goes wrong where the bank is at fault. However, consumer research suggests the reason people stay with their bank is not because they find moving bank difficult but that they are happy with the service they are getting.
"The issue of bank charges for unarranged overdrafts is still before the courts and banks are doing all they can to bring that process to a speedy conclusion."



Sorry, but that last paragraph just sounds a little bit tooooooo sarcastic to me !

[Tools]

Re: BBA statement to OFT - Banks agree to make improvements to personal current accou

However, consumer research suggests the reason people stay with their bank is not because they find moving bank difficult but that they are happy with the service they are getting.

It was this sentence that amused me. Of course people are happy being charged extortionate fees and receiving a crap service.