Bank Leumi CEO's Social Media Call for Service Suggestions Draws Criticism
Translated & summarized from Calcalist by baba
Bank Leumi CEO Hanan Friedman solicited service improvement ideas on X, sparking widespread customer feedback. While some offered suggestions, many criticized high fees, reduced ATM access, and app functionality. Friedman addressed specific complaints, explaining profit distribution and promising investigations into service issues. Despite efforts, recent surveys show mixed results, with low scores for fairness but high marks for app satisfaction and phone wait times.
The story in 5 lines · by baba
- Bank Leumi CEO Hanan Friedman asked for customer service improvement ideas on X, receiving both suggestions and sharp criticism.
- Customers complained about reduced ATM availability, high withdrawal fees, and issues with international transfer charges.
- Criticism also targeted the bank's app functionality and lengthy wait times to reach customer service.
- Friedman responded to some complaints, explaining profit distribution and promising investigations into service problems.
- Recent surveys show Bank Leumi with low scores for fairness but high marks for app satisfaction and phone wait times.
Hanan Friedman, the CEO of Bank Leumi, initiated an unusual public discussion on the social media platform X (formerly Twitter), inviting customers to share their ideas for improving the bank's services. The initiative, launched on a Thursday afternoon, quickly gained traction, accumulating approximately 255,000 views, over 850 responses, and around 1,000 likes within 24 hours. While some users offered constructive suggestions, the thread also attracted significant criticism, including complaints about fees and demands for profit sharing.
Among the most pointed criticisms was the issue of ATM availability, with one user lamenting the closure of numerous machines, leaving customers with limited options and facing high fees at private ATMs. Another user, tech entrepreneur Yossi Taguri, founder of Shift Labs, criticized the bank's "direct import" fees on foreign currency transfers, arguing that using shekels for international payments avoided these charges. Taguri also raised concerns about the bank's exchange rates, which he claimed effectively included a 2% fee, and reported that half of the bank's app screens were frequently non-functional. Friedman responded to Taguri's app complaint, stating he was unaware of such widespread issues and requested specific details for investigation.
Other customers highlighted everyday service problems, such as lengthy wait times to reach bank branches and delays in processing bank transfers. Friedman apologized for these issues and assured users they were being investigated. Some users also proposed improvements to digital services, including relaxing password length restrictions and offering more authentication methods, to which Friedman indicated the bank was exploring expanded options.
Friedman also addressed comments about the bank's profitability, explaining that Bank Leumi's profits are returned to the public through dividends and that the bank's shares are publicly held. Despite these efforts to improve customer service, a recent Bank of Israel customer satisfaction survey showed Bank Leumi receiving low scores for recommending the bank and perceived fairness, and ranking last in proactivity in lowering costs. However, the bank did achieve first place in satisfaction with its app and in telephone wait times.
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