Last night we sat down with consumers as they shared their views on banking. One comment got a huge round of applause. Was it ‘scrap bankers’ bonuses’, ‘give us £100 to switch accounts’ or something else?
Last month I mentioned that we’d be hosting a banking event for consumers. Well, ‘Your Voice for Better Banking’ happened last night and as you kindly shared your views on my last Conversation, I thought I’d come back and share the event’s views too.
Our gathering of over 170 consumers in East London would have made the City’s trading floors seem silent. During the event, people took to the floor and had their say on the banking issues that affect their day-to-day lives.
BBC Money Box’s Paul Lewis kicked off the night, followed by our team of panelists who gave their views on ways to improve the banks, before handing over to the stars of the night – you.
The tables have turned
So did last night’s views differ from the ones expressed here on Conversation? When asked what they thought of the banks, one cheeky consumer shouted out ‘robbers, robbers and global robbers’.
I was typing furiously away to capture notes, but was struck by the difficulty people had in explaining why they didn’t switch banks more often, or at all.
Most said they wanted good customer service and motivation to switch banks. And many agreed that portable bank account numbers and automatic direct debit transfers would be a big help. But what else would motivate us to switch?
£100 would top up my pension!
The younger folk on my table tended to be motivated by cash incentives, but I was also delighted to hear a pensioner say ‘what a great way to top up my pension – I just need to keep switching accounts!’ If only you could switch weekly…
So what was the statement that got the round of applause? It wasn’t either of the ones mentioned in the intro, it was ‘don’t charge us for using our debit cards overseas’. See banks, some of our demands are quite simple and you’ll make us a happy bunch if you see them through.
Don’t forget that we’re collecting your feedback to share with the Independent Commission on Banking in order to influence their final report for the government. Jot them down below to make sure your voice is heard too.