E-banking complaints jumped 177pc – Newspapers | Instant News

KARACHI: The State Bank of Pakistan (SBP) on Saturday said the number of e-banking complaints increased substantially by 177 percent over 2016 to 2019.

Also complaints per branch increased by 83 percent during this period.

The SBP Review on Complaints received against Banks / MFBs / DFIs 2016-2019 has been prepared by the Banking Conduct and Consumer Protection Department. The review is carried out as part of the central bank’s strategic goals under the SBP Vision 2020. The bank uses a calendar year for its annual accounts.

The growing number of complaints has created doubts that the new technology can solve the related problem and how effective it will be for customers.

During 2016 to 2019, the total branch network of the banking industry increased by 10 percent. “The number of complaints per branch has gradually increased by 83 percent,” said the review.

Most complaints at the bank relate to short or unpaid cash, incorrect card provisioning, service interruptions, service delivery problems from third party vendors for account statement submissions, reward point issues, annual fees, etc.

Analysis of banking data shows that nearly 84-92 percent of complaints during this period fall into four broad categories, namely ATM / Debit Cards, account maintenance, E-Banking and Credit Cards.

Published in Dawn, March 7, 2021

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