Aussies are less happy with their bank accounts

A growing number of Aussies are feeling less content with their bank accounts, which could prompt more people to search for a better deal.

According to a new study conducted by Roy Morgan Research, satisfaction with the country's major banks has waned for the second consecutive month.

Happiness levels were down by 0.4 per cent in March 2012 compared to the previous month.

This followed on from a 0.5 per cent dip in February, which was the first decline since March 2011. The majority of survey respondents said they were peeved about rising home loan rates.

The study also indicated that Aussies who use a smaller bank are generally far more content than those who rely on more established names.

"It will be interesting to see if the superior performance by the smaller players can be translated into market share gains," commented industry communications director at Roy Morgan Research Norman Morris.

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