Survey shows bank customer satisfaction is highest online

By Rebeccah Elley ·

A new study by Roy Morgan has found customers who use their financial institution’s website to conduct banking have the highest level of satisfaction.

The Commonwealth Bank topped the Big Four at 94%, rated as providing the highest level of satisfaction for its online banking channels. ANZ, NAB and Westpac closely followed, ranked at an equal 90% level of satisfaction.

Other banks that achieved high results included Heritage, St George and Bankwest rating higher than the average results of the Big Four, however none topped the Commonwealth Bank.

The results showed bank customers were more satisfied with internet banking through using the bank’s website, including mobile or tablet applications. However, customers were less satisfied with both automated and personal telephone banking services.

Roy Morgan’s communications director Norman Morris said that the fact bank customers are more satisfied with the channel they use than with their relationship with their bank indicates other areas are in need of improvement.

“We know from our research that there are many other areas that impact overall bank customer satisfaction, these include interest rates, fees and charges, products, reputation etc. The challenge for each bank is to understand what those other drivers of satisfaction are and how to improve them,” said Morris.

The March 2014 survey monitored the short and long term trends for overall customer satisfaction and looked at the way bank customers engage via specific touch points, as “major” differences in customer satisfaction depended on the channel being used.

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