It’s been reported today that ANZ has scored at the bottom of Consumer NZ’s latest bank satisfaction ratings.
Consumer NZ surveyed 1920 banking customers about 17 service areas and it was The Co-Operative Bank that was the top performer in the survey with a score of 77% and ANZ was at the bottom with just 57%. The average across all the banks was 64%.
ANZ is New Zealand’s biggest and most profitable bank with profits reported at $1,131 million for the 6-months to 30 September 2024. When it comes to customer satisfaction though things do not look so good with ANZ rock bottom of the survey.
Are we surprised to see ANZ rock bottom?
Not really, seeing ANZ rock bottom shows that the big banks have lost the connection with their customers and the other “big” Aussie owned banks (ASB, BNZ and Westpac) did not do much better.
As mentioned, the Co-Operative Bank which is a real Kiwi bank was the top performer. On the website the Co-Operative Bank say they are “proud to be 100% owned by our customers and the only bank in New Zealand to give our customers a share of our profits” and that’s a very customer focused approach; albeit the banks profits are very small at just over $20 million. (reported on website)
The other Kiwi owned banks did okay too.
If you want to read the full report you will need to sign up to the Consumer.
This was an overall service rating which included how easy the banks are to do business with, internet and mobile banking as well as the banks fees, interest rates and of course the response times. If you have tried to get hold of someone at the bank for advice then you would probably rate most banks quite low too.
When it comes to home loans that’s why more Kiwis have turned to mortgage advisers.
