Consumers more dissatisfied with banks than ever

Research from Triodos Bank also shows that for three quarters of Brits there has been no change since last year as their feelings towards their bank remained the same.

Almost nine million (18%) customers would not recommend their current bank to family and friends.

Four out of ten of these unhappy customers (40%) would not recommend their bank due to poor service, and almost a quarter (24%) blame the hefty bonus practice as a reason to not recommend it.

Around 18% won't advocate their bank because of its excessive profits and almost a third (30%) claim it is because their bank doesn't treat them as an individual.

However, the current concerns facing society are not reflected by the reasons people choose their bank. The most common reason for picking a bank is down to convenience.

A quarter of Brits (25%) chose their current branch because it was close to work or home, regardless of rates or business model. Only 7% chose their bank for its values, and interestingly only 7% opted for their bank based on the best interest rates.

One in eight (13%) even stated they are still with the bank their parents set them up with when they were a child and haven't changed it since.

Huw Davies, head of personal banking at Triodos Bank, said: "Surely it should be possible for banks to do more and make things better for their customers and for society as a whole.

“More than a tenth of people we surveyed are more dissatisfied with their bank than last year, and 9 million people wouldn't recommend it. With so many Brits feeling fed up and dissatisfied with banks at the moment, we'd like to challenge people to vote with their feet, and move their savings to a better bank."

The research also shows that it is not just customer service, products and excessive bonuses that are swaying people's views; people care about where their money is used.

Over a tenth (12%) of those who would not recommend their bank said this is because of its lack of lending support to UK businesses, and a further 12% because of its lack of lending to individuals who need funds.

Brits obviously care about what happens to their money too as 6% think their bank lacks green and ethical policies.