Banks satisfying more customers

The latest Roy Morgan Research consumer banking customer satisfaction report, released yesterday, shows the four major banks with an average satisfaction rating of 74.3 per cent, as measured in August. The total bank score, taking into account all the second tier banks, is 75.9 per cent. The average satisfaction rating for credit unions is 86.9 per cent; for building societies it is 88.2 per cent.

The gap between the building societies and the big banks – 13.9 percentage points – is a big one, but it is a lot closer than it used to be. In 2001 the big banks hit a low point in their ratings, with an average score of around 55 per cent. The credit unions and building societies were close to where they are today. The gap in ratings between big banks and building societies has narrowed by close to 20 percentage points in a decade.

Source: Banking Day