By Julian Goldsmith, 30 July 2007 09:00
COMMENT
Although many customers choose banks based on good service, most financial institutions still have poor websites. Julian Goldsmith asks: What gives?
Why are personal banking websites so bad?
Recently, as a result of a suspected account hijack, I was forced to try to make a credit card payment through my bank's (one of the big three) website, rather than over the phone.
Armed with the requisite account and access numbers, I started to log in. This took two separate pages for some reason. Once in, I had to negotiate a navigation system that would have frustrated Magellan and Cooke working together with a GPS plotter.
It took me a number of attempts just to move my own money into a credit card run by my own bank. The use of terms undecipherable to anyone without a charter in accountancy and the absence of the option to 'Pay your credit card bill, like you do about this time every month' in the small range of choices made me lose the will to live.
Current website design isn't perfect but it has clearly moved on since the last time this particular bank gave it any thought.
My bank must have more detailed information about me than any other organisation I deal with but it seems not to want to make use of it for its online banking arm. Strange, when considering the global banking world is desperate to improve customer relationships, that my bank's personal banking website doesn't appear to have changed in the last ten years.
Website navigation needs to be improved, so that customers spend the least time possible administering their own money, giving them more time to spend it. Banks need one view of their customer, so the details available to the contact centre are also used by the online channel.
Cheat Sheets
♦ Basel II
♦ MiFID
♦ Sarbanes-Oxley
In a recent survey customer service was rated the highest in importance when individuals chose a bank. High street banks seem to be ignoring this simple and obvious metric.
In the same survey, it was generally the smaller high street banks that scored the best in customer satisfaction. For smaller, read more nimble and better able to listen to the concerns of their customers.
The only consolation I have gained from my encounter with online banking is, if it's this difficult for me to get at my money, then it should be at least as hard for anyone trying to defraud me.
Comments
There are 4 comments. Join the discussion
1. Smiley Smile
Avoid any of the "Big Four" banks, and most High St. building societies - their service is universally poor!
Stick with the smaller branches and most internet services (except those representing the big chains(.
I made the change 10 years ago, and there is so much less hassle in my life...
2. Rob
Yay, someone else who thinks the mainstream online banking systems are useless too. How long has online banking been mainstream? And we still haven't seen an innovation/development.
I was recently with the Woolwich, one of the best online banking systems I have ever used, user interface was great and it did what it said on the tin.
Unfortunately they were bought out by Braclays a few years ago (on my understanding it was in part for the woolwich online system) and now all Woolwich customers have been transferred to Barclays and their crap system that looks and smells like HSBC's system but a different colour.
Gutted to say the least.
3. Richard
It's even worse when there's an error:
Recently, there was a computer glitch in a transfer between two of my online accounts:
The transfer went in the wrong direction and (after the usual 3 day wait) immediately failed due to lack of funds.
However, although these Banks had incurred no costs, they still insisted on imposing their large penalties for failed payments.
Their "customer service" reps seemed to have no idea how Internet transfers normally work!
The moral: Although it's our money, they've got it!
When they make a mistake: Tough!
If we make a mistake: They make extra profit!
4. anonymous
I bank with the Abbey, and their online presence is exemplary. I pay 4 or 5 bills online and there has never been a problem.
I have a current account and a saving account, transfers between them are instantaneous. The first time I did it, I assumed it would take a few days, but no.