Santander UK plc has been a familiar name in the banking industry, with services ranging from personal banking, business banking, and mortgages. While the company has a history of excellent customer service, there have been instances of complaints that have risen over time. In this article, we explore the rise of Santander UK plc complaints and their subsequent resolution.
Santander UK plc reported a total of 27,907 complaints in the first half of 2020, an increase of 48% from the previous year. This statistic comes despite Santander UK plc winning multiple awards for customer service in the past.
The majority of these complaints were centered around current accounts, followed by credit cards, mortgages, and personal loans. The complaints ranged from poor service, delay in resolution of issues, and misinformation provided by customer service staff.
A notable area of issue was the bank’s mortgage service, which was blamed for poor communication, lack of clarity on fees, and an inconsistent response from customer service. The coronavirus pandemic has only served to exacerbate these issues, with a surge in mortgage payment holiday requests and loan applications.
Renowned consumer magazine, Which? stated, “Santander UK plc has an above-average proportion of complaints for the volume of products it holds, as well as customers rating it poorly for customer service.”
The rise in complaints prompted Santander UK plc to readdress its focus on customer service and response to complaints. In their 2020 Annual Report, Santander UK plc acknowledged the rising complaints stating, “We did not meet our own expectations for customer service during this extraordinary time, for which we apologize.”
The bank also noted that they are investing heavily in improving their customer service in the coming years. This move will include more personalized customer service, an easily accessible complaints resolution process, and a greater emphasis on financial education for customers.
Santander UK plc has also taken steps to improve their communication with customers, which has been integral in resolving complaints. They have trained their customer service staff to listen actively to customers, provide accurate information, and take steps to resolve issues immediately.
This move has already started to show success, as the bank reported a 14% reduction in complaints in the second half of 2020. This is a crucial step in rebuilding trust with customers and illustrating a renewed commitment to high-quality customer service.
The bank’s mortgage service, which was previously at the center of many complaints, has also seen improvements. The Bank launched a digital mortgage process, halving the time it takes to apply for a mortgage and offering more transparency on fees. Santander UK plc has also made it easier for customers to understand their mortgage payments, as well as their available options.
The Bank has also been active in providing support to customers affected by the pandemic. Customers facing financial difficulty are offered a range of solutions, including payment holidays, fee waivers, loan extensions, and early access to savings.
Despite the improved service and resolution of complaints, customer interest group Resolver has warned that Santander UK plc still has a long way to go before they can be considered excellent in customer service. Resolver shared some statistics, which found that 70% of Santander UK plc customers’ complaints are not resolved on the first attempt, while only 53% of complaints are resolved within two weeks.
Additionally, Resolver found that Santander UK plc is one of the most complained-about banks in the UK, with only Barclays and Lloyds Bank receiving more complaints.
To address this, Santander UK plc must continue to make efforts to improve their service, make their complaints resolution process easily accessible, and train staff extensively in effective communication. In doing so, the bank can rebuild trust with customers and improve their reputation in the market.
In conclusion, while complaints against Santander UK plc have risen in recent times, the bank has taken steps to address this issue. With a renewed focus on customer service, the bank has made efforts towards resolving complaints promptly and providing an accessible complaints resolution process.
While some work still needs to be done in this regard, Santander UK plc’s improved service has already had a positive impact, leading to reduced complaints. With continued investment in customer service, resolution of complaints, and financial education, Santander UK plc can cement itself as a market leader in customer service and trust.