BANK ACCOUNTS
Legal and life planning services launch by Co-operative Bank
The Co-operative Bank has demonstrated why it is one of the UK’s top banks for customer service with the launch of a range of legal and life planning services to its customers.
Recent customer research indicated that consumers feel daunted by consulting solicitors and that they fear the costs associated with dealing with them. Due to these anxieties, the Co-operative Bank has launched this initiative to make life easier for their clients.
The bank claims that the new legal and life planning services will create a more competitive environment providing consumers with a wider choice of firms to choose from and which will encourage better customer service, innovation and more transparent products and services.
As the Co-operative Bank explained, the pilot will offer a more “customer friendly and approachable alternative” for consumers to access expert advice and guidance for will-writing, probate and Life Planning services through 30 Co-operative Bank and Britannia branches.
"It's an exciting trial for The Co-operative and for customers because it allows us to help so many more people, either through planning for their own future or by providing help and support at difficult times," said Eddie Ryan, Managing Director of The Co-operative Legal Services.
Thanks to projects like these, the bank ranked 79% in customer satisfaction in the latest analysis published by the consumer watchdog Which?. The Co-operative Bank was only behind First Direct, which ranked 84% in customer satisfaction.
Last year, this bank the Co-operative Bank was also winner of Best Financial Services Provider at the 2009 Which? awards due to a 22% increase in the number of customers switching their bank accounts from other major providers that year.
When looking into reasons for switching, almost one in three people cited customer service, 14% wanted a clearer charging structure and around one in ten said they were looking for a more ethical provider.
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