Study: Big banks fall short of customer expectations  August 31st, 2010

Many smaller banks are proving much better in terms of customer service than their larger counterparts, new findings show.

Which? found that the likes of Smile and First Direct are more favourable with investors than lenders such as Halifax and Bank of Scotland.

The Which? Money People's Choice poll revealed First Direct came top with a score of 82 per cent, while One Account ranked second with 81 per cent.

Chief executive Peter Vicary-Smith commented: "Time and again, the big high street banks are found to be lacking when it comes to good customer service.

"People who are unhappy with their bank must vote with their feet and move to a better financial provider."

This follows the release of further research from Which? showing banking is very rarely free for UK investors, with as much as £1,140 a year spent in unauthorised overdraft charges in some cases.