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Bank customer satisfaction: How did your bank fare?

June 4, 2011

According to Roy Morgan’s Bank Customer Satisfaction Report, the major banks saw an increase of 0.1 percent to 72.9 percent in overall customer approval ratings in the March to April period.

On an individual basis, the CBA dropped 0.2 percent to 71.5 percent, and again rated the lowest approval with home loan customers, with only 64.1 percent of those surveyed citing they were happy. Ongoing dissatisfaction with the CBA is no doubt a hangover from the lender’s decision last November to move first in the out-of-cycle interest rate rises.

ANZ retained poll position with 75.2 percent with Westpac and NAB trailing at 73.9 and 72.3 percent respectively.

Over the last 12 months, Westpac has shown the biggest improvement of the Big Four, with a 2.6 percent increase in the satisfaction levels of both home loan and non-home loan customers.

The survey also revealed that small to medium business satisfaction with the majors is 12 to 14 percent lower than non-business customers.

With a gap of only 3.7 percent between them, the Big Four are rating more closely than they have been in the last decade.

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