ANZ announces elimination of fees on some savings accounts

ANZ has announced that it is to eliminate fees on some of its savings accounts.

This comes as part of a broader rebranding strategy from the bank, which, it says, will ensure it is seen to be a people-focused and uncomplicated lender.

Another move is to make the home loans pre-approval process easier and to introduce specialist bankers who are more focused on customers’ needs.

These will include retirement, small business and Asian consultants.

Research that considered the opinions of over 1,300 ANZ customers and 250 staff led to the changes, according to the institution.

Commenting on the initiative, ANZ chief executive officer Mike Smith said: "Today, our brand needs to reflect that no matter where our customers deal with us, we want to deliver one high standard of experience based on understanding of their world."

He noted the "good progress" the bank has made in terms of customer satisfaction, investment in more branches and ATMs, as well as simplified products.

People looking for cheap credit cards may be interested to learn that ANZ had the highest satisfaction rating of all the big four banks in a recent survey by Roy Morgan.

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