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Beyond the expected

Best banks: Roy Morgan research reveals our favourites

By Rachel Ziv 8 June 2018 2

Customers are more satisfied with their banks than they have been in the past two decades.

What do you look for in a bank? Low fees, competitive interest rates, or good old fashioned customer service? Perhaps you seek out providers that are doing good with their profits by supporting charities or investing in local communities?

According to the latest research from Roy Morgan, Australians are pretty happy with their banks at the moment, with customer satisfaction levels over 80%. But, if you’re wondering whose customer satisfaction was highest, it wasn’t any of the Big 4 that came out on top.

For 12 consecutive months, Bendigo Bank had the highest level of customer satisfaction when compared to the top ten largest banks, based on number of customers. Satisfaction figures came in at almost 88% last year.

Sliding in second was ING, followed by St. George, Bankwest and Bank of Queensland.

Norman Morris, Industry Communications Director, Roy Morgan says “Despite a small decline in satisfaction with banks over the last month, their customers now have much higher satisfaction levels than they have averaged over the last two decades. This highlights the importance of measuring long term trends, as we have seen on many occasions that short term fluctuations are often misleading in understanding the bigger picture.”

Neale Guthrie, Chairman of Canberra Community Bank Group which manages four of our local Bendigo Community Bank® branches, says “We are very proud that we have such a high satisfaction rating with our customers. Our competitive product range, excellent customer service, and strong community focus are at the heart of these results.

“Our customers know that when they bank with us, their local community benefits. Since we opened in 2002, we have returned over $1.2 million of our profits to the Canberra region.”

Managing director of Bendigo Bank, Mike Hirst, said the research was a valuable reflection of how customers were feeling about the Bank.

“The significance of these reports cannot be underestimated. They are important because the satisfaction level is being rated by our customers,” he said.

Mr Hirst said that the ratings are very relevant given recent public discussion about poor conduct in financial services and the dent that has put in the public confidence in the banking system.

“Our staff embrace our customer and community values and have a culture of always trying to do the right thing by our customers, which goes to the core of our vision of being Australia’s most customer-connected bank.”

For more information about joining Bendigo Bank through Canberra Community Bank Group, pop into any one of their four local branches in:

Curtin: 1/20 Curtin Place, Curtin. Ph: 6260 5140

Jerrabomberra: 2a/2 Limestone Dr, Jerrabomberra. Ph: 6299 8357

Wanniassa: Wanniassa Shopping Centre, Sangster Place. Ph: 6231 9024

Calwell: Calwell Shopping Centre, Webber Crescent. Ph: 6291 3385

This is a sponsored article, though all opinions are the author’s own. For more information on paid content, see our sponsored content policy.

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Best banks: Roy Morgan research reveals our favourites
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Capital Retro 9:14 am 08 Jun 18

The Bendigo Bank appears not to accept term deposit investments from trustees of self-managed superannuation funds so many retirees wouldn’t be dealing with them.
It’s therefore disingenuous to compare them to most other banks who do offer these services.

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