Quick thought: Are banks really that bad or do we just need to alter our expectations?

Having been in the industry for the majority of my working life, I often wonder why people’s general expectations of banks are always so high and if they should be more realistic?

Have you ever walked into a bank at lunch time and seen a line of people all waiting to see the cashiers and thought “Oh here we go…”. You inevitably get that itchy feet feeling and see people tutting and frustration levels rising. Meanwhile, head down to your local Tesco’s and people will merrily stand there at the check out for quite some time with no disdain or anger displayed towards the cashier. Even though, the requirement to go into the bank is typically far more important and complicated than your weekly shop, the fact is that most of us feel that the service in a bank should be exceptional and waiting is just not good enough.

Maybe this is also why we react so strongly when financial institutes hit the headlines for being in the bad books or doing something naughty…more so than any other industry. I am in no way justifying some of the things that have gone wrong in our UK and global banks and the impact that they can have on the economy and our day-to-day lives, but occasionally it is the media’s perspective and spin of the facts, as well as our natural desire for gossip and scandal that escalates the issue to the point where it hits share prices, thus the market and ultimately us.

 

Here’s a quick poll:

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