TSB is supporting Which?’s Costly Calls campaign to move away from high-rate numbers for their customers. Here’s TSB’s CEO Paul Pester on why TSB has switched to local rate 0345 numbers.
You shouldn’t have to pay extra for customer service when calling banks or other companies. It’s not right and customers should be able to get in touch with companies how they want without being penalised.
We want to talk to our customers, and want them to feel able to get in touch with us whichever way suits them best. But calls can be expensive, and research tells us 82% of Brits avoid calling their service providers because of high call charges. We don’t want our customers to feel this way and we know readers at Which? care about this issue.
At TSB we believe in fairness and transparency and this is why we have replaced all of our 0845 numbers with 0345 local rate numbers. 0345 numbers are included in inclusive minutes for both landlines and mobiles – so you can contact TSB on a local rate number from anywhere in Britain.
Supporting Which?’s Costly Calls campaign
We originally set out our commitment to replace 0845 numbers with 0345 numbers in February this year, supporting Which?’s Costly Calls campaign. Since then, we have prepared our systems and processes for the switchover to ensure a smooth transition for customers.
TSB is Britain’s only national bank to make this change in full. However, I was pleased to see that the Financial Conduct Authority (FCA) – our regulator – has since announced that they will consult the rest of the financial industry to make customer calls more affordable.
I believe this is right and I am proud to say TSB is leading the way.
Spread the word
Our research shows that 94% of people aren’t aware that 0345 numbers are included in inclusive landline and mobile minutes, while 35% of people haven’t even come across a 0345 number before. So as well as introducing 0345 numbers, we also need to help ensure people understand what they are so that they can realise the full benefits.
So next time you are sharing money-saving tips with friends and family, do also share the news that 0345 numbers are treated the same as local rate numbers – whether that’s on social media or through everyday conversation.
Truth and transparency is key
And finally – we made a commitment to let our customers know how we operate and make money when we launched Truth and Banking – and we won’t make a single penny from 0345 calls!
If you think all companies should be more transparent or should introduce 0345 numbers, please let them know!
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