November 17, 2009 – 8:49 am
We blogged last month about the Co-Op banks business banking system being unfit for business. The BBC’s money box program has picked up on the story – even using the same headline. They report customers leaving in frustration due to an online system that is failing. Many Co-op customers come through a partnership with the Federation of Small Businesses, who claim to be adding 150 new customers each month. Unfortunately there are reports that the online system cannot cope with more than 130 users at once.
The Co-op recognise the problem. John Hughes, the Director of Retail Products for Co-operative Financial Services admits the system is flawed: “It’s just a fundamental design feature of the system. We are truly sorry for any of the inconvenience, difficulty, frustration and irritation we’ve caused our customers.” They plan to replace the system in spring next year.
The FSB don’t recognise the problem at all. Stephen Alambritis from the FSB said “We’ve had very few complaints. “ Why not ? They’ve certainly had our complaint. The Co-op themselves say the system is fundamentally flawed. Has the FSB decided they are too big to listen to small businesses ?
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