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Ask not what you can do for the banks, but what the banks can do for you!

15 Mar 2012

Thursday 15 March is World Consumer Rights Day (WCRD) 2012! This year's theme is Our money, our rights: campaigning for real choice in financial services, and the global consumer movement is highlighting this issue all over the world.


The right to choose

This is a basic consumer right that is continuously undermined when it comes to financial services. Consumers all over the world are getting a raw deal, but often find it difficult to shop around for a better option.

Without a strong incentive to offer more choice and better service, banks and other financial institutions are not competing with each other to offer better value.

In turn, consumers find it difficult to move their money and are trapped in bad deals. This problem applies to all sorts of financial products and services - from bank accounts to global money transfers - and it repeated the world over.  It's clear that more needs to be done to promote choice and competition in financial services.

 

Consumer rights: 50 years on

15 March 2012 is the 50th anniversary of John F. Kennedy's statement on consumer rights - he was the first ever leader to define what consumer rights should mean.

 

What is happening around the world?

CI's member organisations across the world are taking action to call for meaningful choice for consumers - whether it's switching banks, buying insurance or transferring money overseas.

  • See what consumer rights groups are doing for World Consumer Rights Day on our global activity map

 

Join the conversation

  • Join the discussion on our Facebook site
  • Follow on twitter with #WCRD2012
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"Consumers by definition, include us all," Kennedy said in 1962. His vision of consumer rights has developed into eight basic principles.
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