Price number one for bank customer satisfaction
Pricing, products and service are the key factors that lead to overall customer satisfaction, according to a recent bank survey by Canstar Blue that saw National Australia Bank (NAB) and ME Bank surge to the top of the rankings.
After a much publicised ‘break-up’ with the other big banks, NAB’s strategy to slash fees across a range of products over the last 18 months has received a positive reaction from consumers.
The strategy has seen NAB leap from last to first place among the big banks in the Canstar Blue survey conducted this month.
Among the 13 challenger banks, ME Bank’s low-cost, simple and fair approach to banking, plus its industry super fund connections, saw it debut at the top of the list.
“ME Bank’s products and pricing received five stars, as did its friendly service,” said Canstar Cannex’s head of research, Steve Mickenbecker.
“This mirrored NAB’s results, giving a clear indication that customers are price-sensitive and want products that give good value for their core needs,” he added.
Recommended for you
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Private market secondaries manager Coller Capital has unveiled a new education platform to improve advisers’ and investors’ understanding of secondaries.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
