All of the Big Four banks (ANZ, CommBank, Westpac, NAB) have encountered problems over the past twelve months, but customers are still happy with their level of service. Despite a number of technical glitches, security flaws, and political wrangles over interest rates, surprisingly the big banks’ popularity has remained relatively unscathed.
Customer satisfaction ratings gathered by Roy Morgan research found that, on average, over three quarters of the Big Four’s customers were happy with the level of service they had received over the year.
ANZ continues to dominate the survey for customer satisfaction. Despite NAB offering lower home loan rates, their refusal to pass on the entire rate cut to customers dented an otherwise successful year.
Ironically, after a spate of incidents involving CommBank’s network, the esteemed ANZ has now found itself caught up in the quagmire.
A security flaw in its internet banking system was highlighted by a magazine, the resolution of which has yet to be announced.
There were also problems during the Boxing Day sales when a glitch on ANZ's Eftpos payment system caused outage for an hour in the afternoon and transactions timed out. There are signs, perhaps, that positive ratings and consumer loyalty may yet become a poisoned chalice.
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Kate Guthrie
