Bank rage drives switchers

More than half of Australians have experienced “bank rage” – anger or significant frustration toward their financial institution – according to new research commissioned by Heritage Bank.

53 per cent of respondents – equivalent to around 9.1 million Australians – experienced bank rage. Around twice as many big four bank customers (59pc) have felt anger and frustration, compared to those with a mutual bank, credit union or building society (31pc).

Now, people wanting to switch bank accounts can go to their new bank, sign authorisation forms allowing the transfer of direct debits and credits to a new account, and the new bank will do all the work.

Source: Stock & Land