Banking can be a complicated business, and, as much as you might like to sometimes, there’s really no way to avoid it. Searching for a bank – one you can trust – can be a difficult, confusing process. To help you make the decision, it’s sometimes easier to start with what to avoid, like the common issues people face with their banks.

After hearing all of the complaints, here’s the round-up: the Top 5 Issues People Face With Their Banks

1. Hidden fees

You may not realize it right away when you open a bank account, but, most likely, your bank is charging you hidden fees. Usually, these hidden fees are small, like a $35 overdraft protection fee–but they can be excessive. In other words, a lot of these little fees will add up to costing you a lot of money.

Moreover, most of these fees are actually optional; hence, the fact that they’re hidden, because most banks don’t want you to know that you don’t have to pay them.

While these small fees may seem insignificant, this is one of the top issues people face with their banks because it’s a matter of character. People don’t want to work with a bank that’s going to pull tricky moves on them and make it harder for them to save money.

When you work with BankRI, you don’t need to worry about deceptive, hidden fees. We give you full disclosure on all transactions and never secretly charge you. 

2. Bad customer service 

Bad customer service is an issue, not just in the banking industry, but in virtually every industry of business. The problem is twofold. For one, when people call their bank, they do not want to speak with a robot. While this may allow banks to more easily funnel their customer calls, it’s not what people want. People want a personal, human experience when they contact customer service.

But there is another issue. Even if an employee answer the phone instead of an automated response, bad customer service can still be an issue. For example, people become frustrated when they are put on hold for too long, when they are transferred too many times, or if it takes the bank employee too long to resolve the issue at hand.

Bad customer service is a common issue, but it is more prevalent at large, international banks. For this reason, people often prefer the more personal, intimate relationship they can have with a community bank.

At BankRI, we practice relationship banking. This means that we care about you and your financial well-being. We’re concerned with, not only your banking, but your overall customer experience. It’s part of what makes us a community bank: we care about people.

3. No respect for loyalty

Similarly, one of the next most common issues people face with their banks is a lack of respect for loyalty. Just as people want to experience good customer service, they want to establish a solid relationship with their bank; they want to feel like somebody cares about them and their financial well-being.

Of course, this doesn’t mean that a bank should give preferential treatment to older customers at the expense of newer customers. But, customers want to know that they are appreciated and that when they are loyal to their bank, that, in turn, their bank will be loyal to them.

Moreover, loyalty at BankRI means that we respect our customers and are always honest and forthcoming. If we make a mistake, we won’t try to cover it up and deceive you. Instead, we take ownership for our actions and, as experienced bankers and lenders, show dedication to our customers by honestly and carefully resolving any mistakes.

4. Complicated mortgages 

Obviously, mortgage loans are one of the most important financial services available at a bank. So, it’s not right that mortgage loans are also one of the biggest complaints among customers.

According to a study by Business Insider, the majority of customer complaints about banks involve issues about loan modifications, refinancing, collections, and foreclosures. The true issue stems from the fact that banks are usually unclear in delivering information about mortgage loans, such as reduced-payment trial periods, income-based repayment plans, and ever-changing payment schedules.

Similar to the issue of the sneaky, hidden fees, people are frustrated with banks who constantly try to deceive them. People want a relationship with a bank that they can trust, that is reliable, and that tries to make complicated transactions like mortgage loans easier, not harder, for their customers.

At BankRI, we offer competitive rates so you can find the loan that you need. As a community bank, we are committed to establishing an honest relationship with our customers to help you meet your financial goals – like getting set up with the right mortgage loan.

5. Disadvantages for small business 

Finally, a big complaint among people is that small business owners will usually not get the respect that they deserve nor the help that they need from big, international banks.

For this reason, small business owners will usually seek out smaller, community banks, credit unions, or building societies where they are more likely receive the service they need. However, small businesses should not have to shop around in order to receive quality service.

Fortunately, at BankRI, we understand the value of and appreciate small business owners. Our experienced team is dedicated to helping you grow financially. We will work with you every step of the way to ensure you’re getting the banking services you need for your business.


At BankRI, we’re a Rhode Island business, so we understand Rhode Island business and what it takes to reach your goals and how to grow.

But we’re also people, so we understand the common issues people face with their banks. We strive to be the Bank that you trust.

Whether you’re an individual, family, business or organization, you’ll find a full line of financial products and services at BankRI, each customized to meet your specific needs.