Customer moves R1 million from bank due to poor service

A 76-year-old bank customer was so aggrieved by the failure of his bank to handle all his complaints that he closed all his accounts with the bank and moved R1 million out, the Bank Ombud of Nerusha Maseti, the Lead Ombud of the Banking Division at the National Financial Ombud Scheme (NFO), said banks must address complaints fairly and transparently.

- MARTIN HESSE

“Banks can generate word-of-mouth referrals and a strong reputation by providing a positive customer experience. Banks must focus on building relationships with their customers, understanding their needs, and providing personalised service to ensure satisfaction,” she said.

If a customer is unhappy with how a complaint has been handled, the Banking Division of the NFO will investigate the complaint without a fee. Citing a recent case of shoddy customer service, Maseti said the aged customer went to a bank branch and requested to open an account that would not attract any fees.