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Bank Customer satisfaction highest online

Source: Roy Morgan Single Source (Australia) October 2013 - March 2014; n = 23,150
Satisfaction with banking channels is highest amongst those who conduct internet banking using their institution’s website. Commonwealth Bank achieved the highest level of satisfaction with internet banking among the big four banks according to the March 2014 Roy Morgan Research Finance Single Source survey.

At 94%, Commonwealth Bank leads the big four banks in internet banking satisfaction followed by ANZ, NAB & Westpac, all on 90%.  Banks such as Heritage, St George and Bankwest who traditionally differentiate themselves on service achieved better results than the average of the big four banks but did not rate higher than the Commonwealth Bank.

Satisfaction with Services used in the last four weeks

banking-satisfaction

Source: Roy Morgan Single Source (Australia) October 2013 - March 2014; n = 23,150

Looking at the way bank customers engage via specific touch points, there are major differences in the level of satisfaction depending on the channel used. Bank customers tend to be more satisfied with internet banking (either through the bank’s website or application on a mobile phone or tablet) and branch banking and less satisfied with both automated and personal telephone banking service.

Norman Morris, Industry Communications Director, Roy Morgan Research says:

“With bank customers generally being more satisfied with the channel they use than their overall relationship with their bank, this indicates that other areas are in need of improvement if overall satisfaction is to be improved.

“We know from our research that there are many other areas that impact overall bank customer satisfaction, these include interest rates, fees and charges, products, reputation etc. The challenge for each bank is to understand what those other drivers of satisfaction are and how to improve them.”

For comments or more information please contact:

Norman Morris, Industry Communications Director
Telephone: +61 (3)9224 5172
Mobile: +61 402 014 474
norman.morris@roymorgan.com

Related research reports

View more information on the Australian Consumer Banking Satisfaction Monthly Report.

About Roy Morgan Research

Roy Morgan Research is the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.

In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

40%-60%

25% or 75%

10% or 90%

5% or 95%

5,000

±1.4

±1.2

±0.8

±0.6

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2