| Making Sense Of The Small Print |
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They may be complying with guidelines but Consumer Group Which? says customers are struggling to understand the terms and conditions issued by banks for their accounts and how any changes to the T&Cs affect them. Merely sending out or asking people to read online a full new version of a bank’s terms and conditions without clearly highlighting what has changed, is not sufficient.
Many people struggle to notice what has changed and even less understand what impact any changes will have on themselves. The Banking Code making clear that changes should be communicated to customers is less than clear how this should be achieved. A summary of changes and how these affect customers should accompany the new set of terms and conditions. Expecting customers to read the full new set and make sense of them is just not realistic. |
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