Business banking customers are not happy

By Mozo ·

Entrepreneurs have had a tough time of things in recent months, as trading conditions have worsened.

Companies have been blighted by the strength of the Australian dollar and a lot of firms have been forced to tighten their belts.

A new study conducted by Roy Morgan Research indicated that confidence levels among business banking customers are low.

The report suggested that fewer organisations are satisfied with the service being provided by their bank, which could prompt more companies to look for a more favourable deal.

According to the index, levels of satisfaction were measured at 65.6 in March 2012, which was 0.7 per cent down on February. It also represents the first decline since July 2011.

Representatives of Roy Morgan Research said that many firms feel their bank fails to communicate with them regularly enough. There is also a lot of resentment towards banks because some have hiked the interest rates on their business loan packages.

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