Managing complaints in the Chilean retail banking

Abstract

Chilean banks lack valid information on which to base their decisions on how to manage customers' complaints. Accordingly, 25 Chilean banking customers were interviewed in-depth about past complaints experiences. The results show that customers were not concerned if banks took time to resolve a complaint, provided they did not have to spend too much of their own time on the process, and provided the bank employees were honest about how much time it would take to resolve the complaint. In addition, customers did not expect to be compensated, beyond having the negative consequences of the bank mistake reversed.