Lower tier customers may have to wait longer to be put through to customer services, under planned changes at Lloyds
(Picture: Gareth Fuller/PA Wire)About 10 million customers of Lloyds Banking Group have received warnings of significant service changes, meaning some of them may experience a reduced service.
According to The Mail on Sunday, account holders might be placed in a tiered system depending on how profitable they are deemed to be. Customers who are judged to have the most financial value, for example, those who have used the banking group to buy the most goods and services – would receive better customer service from the bank.
This would account for almost 25 per cent of all customers of Lloyds Banking Group, who may their call waiting times reduced from 15 minutes to 15 seconds. Additionally, the bank is apparently thinking about offering them “pricing, offers, and rewards", though no additional details have been provided regarding what this may include.
The lower bracket, making up 30 per cent, may receive a lower level of service from Lloyds and the Halifax and Bank of Scotland banks, which it owns. Being in this bracket could result in lengthier phone hold times and transfer to call handlers with less training. Customers also may have a lower chance of securing branch appointments as “self-serve" alternatives like apps are promoted.
Lower bracket customers could include those who avoid going into debt, taking out loans or purchasing items such as insurance plans.
A source at the bank told The Mail on Sunday it would introduce a service targeted at customers with income or assets over £75,000, excluding property.
A spokesperson from Lloyds Banking Group said: “As we said at our strategic update in February, we are looking to deepen relationships with existing customers and to develop a mass affluent offering, where we are currently underrepresented.
“This means we will continually look at ways to tailor what we offer to meet the changing needs of all of our customers.”
