Hellopeter has published the findings of its first consumer report on South African banks.
The Banking Report highlights the challenges faced by banking customers in South Africa, according to data collected from customer reviews and ratings lodged on its website.
The report showed the following key findings for banking consumers:
- Average initial Hellopeter bank rating out of 5 – 1.47
- Average amended rating customers give following initial rating – 3.88
- Average time banks take to respond on Hellopeter – 31h 56m
- Percentage of time banks respond to Hellopeter reviews – 87.80%
The report found that most banking customers complain about their bank’s processes or services, with few customers complaining about their bank’s products.
The top three process complaints include:
- Admin errors.
- Debit order errors.
- Failure to close an account.
The top service complaints include:
- Unresolved issues.
- Lack of support or understanding from call centre staff.
- Lack of assistance with fraud complaints.
Hellopeter found that companies which responded within five hours to complaints on its platform were more likely to receive an amended positive review, compared to those which responded 24 hours later.