ING, Bendigo & ANZ still the most popular banks

The latest Roy Morgan Research consumer banking customer satisfaction report shows that Commonwealth Bank continues to move closer to ANZ, which has the highest customer satisfaction rating of the big banks. ANZ’s score is 76 per cent, Commonwealth’s 74.7 per cent, Westpac’s 73.4 per cent and National Australia Bank’s is 72.2.

ING has the highest overall bank score, with a satisfaction rating of 87.4 per cent, followed by Bendigo Bank with 85.6 per cent. All institutions included in the survey improved their ratings over the past 12 months and all but three (HSBC, ING and Bank of Queensland) improved their ratings over the past six months.

Customers usually express dissatisfaction with banks when interest rates go up, as they did earlier in the year, but on this occasion customers appear to be taking higher rates in their stride. By now all the promised cuts in exception fees have taken effect and maybe that is having a benign effect.

Source: Banking Day