Personal Banking: Satisfaction levels

There was widespread dissatisfaction across a wide range of products and services with less than half of respondents happy with a number of services.

50% satisfied with personal loans 43% satisfied with local market mortgages 26% satisfied with open market mortgages 39% satisfied with credit cards 40% satisfied with savings accounts 37% satisfied with wealth managers/financial advisors 55% satisfied with current accounts

What does this mean?

Satisfaction with banking services declined with increasing household income which could be a result of needing more products and higher expectations, and respondents not born locally were more likely to be dissatisfied which again could be down to expectation levels based on what they had previously.

Lower income respondents (those with household income under £50,000) experienced more difficulties applying for personal loans and current accounts whereas middle income households had greater difficulty applying for mortgages.

“respondents not born locally were more likely to be dissatisfied which again could be down to expectation levels based on what they had previously.”

Survey Results GUERNSEY CUSTOMERS

402 surveys completed in total

Banking services in Guernsey: opinion statements

High numbers experienced difficulties plus low levels of satisfaction

Personal Banking: The Problems

Personal Banking: Satisfaction levels

Business Banking: The Problems

Business Banking: Satisfaction levels

Fiduciary Banking: The Problems

Fiduciary Banking: Satisfaction levels

What are the problems and why?

What are the solutions?

The next steps

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