Banks continue to advise their clients badly.
The criticism of the institutes seems to be ineffective on this point. That’s what a study by the German Institute for Service Quality on behalf of the news channel N-TV suggests.
At the branch consultants, the overall picture was only satisfactory. One third of the institutes examined in the study even offered a poor idea. The managing director of the ISDQ, criticized the banks. According to him, more than 7% of test customers believe that the credit rating was damaged by incorrect Credit bureau inquiries. In 15 percent of the testers, the bank advisors would have been forced to take out a residual debt insurance without mentioning the higher costs or the higher effective interest rates in this connection.
The quality of service
Hair straining deficits were also reflected in the quality of service in advising and supporting customers by e-mail and telephone. In 25 percent of the test calls, employees were unable to answer all the customer’s questions. Hardly more than half of the e-mail inquiries were answered in a completely structured and customer-friendly manner. In 15 percent of the cases, there was no response to a mail request.
Actual loan conditions
The actual loan conditions revealed that there were significant differences between the various banks in the market. When comparing the effective interest rate, direct banks were found to have a margin of 3.5 percentage points between the cheapest and the most expensive bank. For branch banks this margin was even 5.5 percentage points. Therefore, the ISDQ experts strongly recommend that you obtain several offers.
The persistently weak service quality in loan advice shows that bank customers are over-advantaged by many institutions. This could also be due to the fact that in the service departments of banks (and in particular in the call centers) more and more poorly qualified or trained employees are sitting whose motivation Eg due to poor pay is not always the best,
A customer-friendly alternative to banking advice is going to a serious credit intermediary. Its employees specialize in loans and the related special concerns of customers. In addition, unlike many banks, brokers do not outsource their customer support to external call centers.