Banking customers in Ireland were found to be least satisfied with their banks than any other country in the world, according to the new ‘2014 Global Banking Survey’ by Ernst and Young (EY).

The study, which questioned 32,000 retail bank customers globally including more than 400 in Ireland, found that consumer’s trust in banks is increasing in many countries across the world, but it has decreased 62% since 2012 in Ireland.

Ireland, Denmark and Spain also reported highest customer complaints and least satisfaction with how their problems were handled, with only 50% Irish customers citing satisfied with complaint handling than 67% globally.

EY financial services advisory division director, Patricia Stack, said the Irish results were surprising given that Ireland’s banks have been investing heavily in customer service of late.

"The high level of customer complaints is a strong signal that banks need to get better at communicating their fees and charges with their customers.

"The good news is that solving a problem or addressing a complaint creates a critical customer interaction, which, if done well, can actually increase a customer’s business," Stack added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.