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05 May 2006
Almost half of UK banking customers do not find their banks trustworthy, reveals a new poll.
Around 46 per cent of respondents said that they did not trust their bank, while 83 per cent said that banks should be more responsible with the amount that they lend.
"Forty-six per cent of consumers not trusting their bank is not a surprise. It is not often banks get positive PR. However, the reasons behind this lack of trust may be concerning," commented Emma Butler of moneyfacts.co.uk, who carried out the research.
"With people increasingly voicing their dissatisfaction, banks are being forced to make changes to the way in which they work - such as the recent decision by Lloyds TSB to pay instant interest on cheque payments."
Figures recently released from the Banking Code Standards Board showed an increase of 50 per cent in complaints against high street banks.
The Office of Fair Trading also last month slammed credit card providers for charging default charges that it said were higher than was legally fair.
If you have been hit by credit card or other banking charges, order your credit report and check your finances are up to date.
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