Bank satisfaction falls again, study shows

Tuesday 24 July 2012

Article by Mozo

Aussies are becoming increasingly unhappy with the service provided by the country's major banks.

New figures compiled by Roy Morgan Research have shown that satisfaction levels with the "big four" lenders dipped by 0.2 per cent to 78.2 per cent in June.

However, smaller banks performed far better, as 85.4 per cent of their customers are said to be happy.

It appears that home loan customers were the most disgruntled, as many companies have failed to pass on recent interest rate cuts. The national cash rate has now dropped to just 3.5 per cent, but most mortgage holders are being forced to pay way more than this.

Norman Morris – industry communications director at Roy Morgan Research – said this was the fifth consecutive monthly fall in confidence levels.

"In addition to home loan customers being a drag on overall satisfaction, we have also seen that small business owners have much lower satisfaction with their personal banking than other customers," he remarked.

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Bank satisfaction falls again, study shows

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