Posts tagged santander

We went into Santander recently and there was an open space, a couple of sofas and some cashiers.  We stood about until someone wandered out and we asked who we talked to about our question. She waved at the sofas and said to wait and someone would see us.  So we waited. Other people were pointed at a telephone to call their call centre or a PC to use their website. 

If I wanted to open an account I would have walked out.

A recent report on Moneysavingexpert.com stated that Santander is (a) has some of the best deals available and (b) overwhelmingly came last in customer service.  So here is the business model at Santander, cut costs to the bare minimum no matter that customer service is the worst in the business and hope to maintain levels of business by offfering good deals.   In other words pile em high and sell em cheap.

Is this a sustainable business model for the banking industry of the future? You decide. But with the CEO moving to LLoyds at some outrageous salary the same treatment can be expected there.

If you are at Lloyds, and like me, value customer service over an extra quarter of percent on my account then I suggest you switch to the Co-op.