Customers like St George and ING Direct

Two retail banking customer satisfaction surveys out this week, Roy Morgan’s monthly report for October, and the September quarter Nielsen Financial Services Monitor, show an improving trend after a mid-year dip.

Almost all financial institutions in the Roy Morgan survey have recorded increased satisfaction scores over the past few months. The main financial institution satisfaction level in the Nielsen survey went up two points to 64 per cent.

Nielsen reported that St George had the biggest increase among the top five banks’ “very satisfied” numbers, with an increase of 3.9 points to 36.5 per cent. In Nielsen’s overall main financial institution satisfaction scores, St George has regained the lead it surrendered to ANZ in the March quarter with a rating of 63.8 per cent compared to ANZ’s 61 per cent.

Another finding common to both surveys is that ING Direct has taken over from Bendigo and Adelaide Bank as the retail institution with the highest overall rating. ING Direct’s new fee-free transaction account, Orange Everyday, must have hit the mark.

Source: The Sheet