Financial Services > e-banking > Banking news
Few online banking complaints recorded, expert notes

Fri, 13 Jul 2007

A spokesperson for the Financial Ombudsman has revealed that there are very few complaints made relating to online banking services each year.

According to Emma Parker, speaking on behalf of the body, fewer than 450 complaints relating to online banking are referred to the service each year - so few that no category has been created to deal with them.

The expert suggested that there could be a multitude of reasons why online banking sees so few complaints, such as the number of checks that are applied when customers conduct transactions.

"And the type of customer that would perhaps prefer to use online banking rather than the telephone or going into the branch may be financially a bit more confident," she added.

Ms Parker continued that complaints may arise when a "technical glitch" happens in an online banking service, but contended that the banks would already be aware of such issues due to the number of complaints they would generate.

A spokesperson for consumer watchdog Which? recently said that the popularity of online banking is continuing to grow, with more customers now opting to conduct a complex range of services via the web.


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