Banks in the UAE might have started to focus on customer service, but there is a long way to go
Customer service, or rather the distinct lack of it, has long been one of the biggest bugbears among residents of this country, who are often left frustrated by the experience they endure in some shops, banks and restaurants across the Emirates. But is that situation beginning to change?
Consider the case of HSBC. As The National reported yesterday, the bank is refunding charges it had mistakenly imposed on some of its customers. Acknowledging the "error", the bank said that in 2010 it had abolished the Dh100 monthly fee it charged to its Advance customers, but had continued to deduct it from a number of accounts. Those customers affected by the error were asked to visit one of the bank's branches to obtain a refund. Regulations imposed by the Central Bank in 2011 scrapped a raft of such fees (including account charges), although as this newspaper has previously reported, some banks had continued to deduct monthly fees from their customers' accounts.
While the general reaction of HSBC’s affected customers was exasperation – “the explanations don’t make sense”, said one – the banking sector is beginning to belatedly understand that customers will not tolerate poor service indefinitely and do have the option of taking their business elsewhere. Indeed, a survey by YouGov and personal-finance website Cashy found that one-fifth of bank clients in this country are planning to leave their existing bank. Poor customer care, hidden charges and high interest rates are found to be the main reasons driving such decisions. Banks would do well to heed that data.
Banking is not the only sector that is realising the worth of better customer care. Earlier this year, organisers of the Sandance concert refunded the full value of tickets to thousands of disgruntled revellers, who missed the New Year’s Eve event at Palm Jumeirah amid traffic chaos. Sandance also promised ticket holders a discount for their next event.
While it is too early to hail either the HSBC refunds or, indeed, the earlier Sandance rebate as signs that the tide of poor customer care has been beaten back, both represent promising markers along the way.