Customers dissatisfied with banks
Business customer satisfaction with their banks has dropped over the past six months, with a combined drop of 5.2 per cent in customer satisfaction among the four big banks, to 74.8 per cent, according to a business banking report by TNS Communications.
Westpac has seen the biggest decrease in customer satisfaction in the past six months, dropping 6.4 per cent to 75 per cent, followed by National Australia Bank with a 5.8 per cent drop. All banks have shown decreased levels of satisfaction, with an average drop of 4.8 per cent.
Only the Bank of Queensland has experienced increased satisfaction levels, with a small rise of 1.3 per cent to 92.5 per cent in six months. St George’s satisfaction levels are the highest at 82.3 per cent.
However, satisfaction levels among business banking customers have increased by 3.4 per cent compared to the previous 12-month period, while the four major banks increased their customers’ satisfaction levels by 4.5 per cent compared to the previous 12-month period.
AUTHOR
Levy. Benjamin
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
