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The Federation of Small Businesses (FSB) is calling on banks to do more to improve the service they offer small businesses.
The FSB's demands follow publication of findings from its review of small business banking. The report, which surveyed more than 4,000 small businesses, showed that while 70% are satisfied with their bank, switching accounts, overcharging and poor customer service remain a problem for many.
The FSB also believes banks are not fulfilling their commitment to a Competition Commission Inquiry of 2002 to offer free banking or pay at least 2.5% interest on business current accounts and to publicise these services to their customers.
FSB financial affairs chairman Mike Cherry said: "There is a long way to go before small businesses get the quality of service from their banks that they need and deserve. There needs to be a culture change within the banks so that they understand the needs of small business customers."
The FSB's demands follow publication of findings from its review of small business banking. The report, which surveyed more than 4,000 small businesses, showed that while 70% are satisfied with their bank, switching accounts, overcharging and poor customer service remain a problem for many.
The FSB also believes banks are not fulfilling their commitment to a Competition Commission Inquiry of 2002 to offer free banking or pay at least 2.5% interest on business current accounts and to publicise these services to their customers.
FSB financial affairs chairman Mike Cherry said: "There is a long way to go before small businesses get the quality of service from their banks that they need and deserve. There needs to be a culture change within the banks so that they understand the needs of small business customers."
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