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Has your bank lost its mojo?

26 Oct 2015

first direct urges unhappy customers at rival banks to give their current providers the heave-ho

In the first half of the year, more than half a million bank customers complained about their current accounts. Even though many people in the UK are dissatisfied with their existing bank, they still feel like switching is too much hassle. Recent findings from the Competition and Markets Authority show that 57% of customers have stayed with their bank for 10 years and in their latest announcement, have called for new bank measures to make it easier for customers to switch account.

first direct - currently ranked #1 bank in the UK for customer service - has now launched a new tongue-in-cheek campaign #DumpYourBank to encourage people to hold their relationship with their bank to the same standard as their personal relationships and take a stand against poor customer service.

Karen Walker, Customer Services Director at first direct , said: “You wouldn’t settle in an unhappy relationship with a partner, so why should you put up with an unhappy relationship with your bank? People often put up with substandard service from their bank because they think it’s going to be too difficult to switch but it’s really straightforward. #DumpYourBank is our way of encouraging people that are currently unhappy with their bank to move to one that will treat them right.”

This year alone, nearly 40,000 customers have already given their current banks the heave-ho and moved to first direct . As part of the call to #DumpYourBank, first direct will offer new customers up to £150 cash back if they switch before 31 October and £100 to switch thereafter, backed up by their switching guarantee to help you change your account provider within 7 days once you’ve opened a first direct account. They’re so confident they can woo you with their amazing service, first direct even offer £100 cash back if you try them for 6 months and then decide to leave.

A customer that recently switched to first direct posted their thoughts on social media: “So I switched banks recently and today phoned my new bank @firstdirect and a human answered. What's going on?! #awesome”  

The #DumpYourBank campaign will run until early December. Terms and conditions apply. 

Ends

For further information please contact Gill Fleming via Gillian.fleming@hsbc.com or 07747 203917.

Notes to Editors:

*More than half a million bank customers (506,326) complained about their current accounts according to recent research by the Financial Conduct Authority

Terms and conditions

first direct is currently offering £125 (or £150 via moneysupermarket) to customers that switch to a first direct 1st Account using the Current Account Switch Service and pay in at least £1,000 within three months of account opening.  Customers must switch before 31 October 2015. After 31 October 2015, the switching offer will reduce to £100. The switching offers are only available for people who haven't previously held any account with first direct and are limited to one payment per customer or joint relationship. Incentives are paid within 28 days of criteria being met. Offer may be withdrawn at any time without notice.

About first direct

first direct provides telephone, online and mobile banking services to its 1.3m customers and offers a full range of personal banking products including its multi-award winning current account and mortgages.  It has been recognised for its excellent customer service by numerous independent third parties including Which? Moneywise, Moneyfacts and Moneysavingexpert.com. As well as its Facebook page, first direct uses social media to engage with customers through sites like YouTube, Twitter, Flickr and Tumblr. 

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