Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Consumers maintain dissatisfaction with business banks? pricing

Staff Reporter 1 minute read

Customers’ satisfaction over business banks’ pricing continues to slide, East & Partners’ November 2008 Business Banking Customer Satisfaction Monitor (BBCSM) has revealed.

The report, issued in December, showed that since February 2008 the customer satisfaction rating for pricing has significantly fallen from 5.31 to the latest level of 4.91. This was based on the scale where 0 was ‘very dissatisfied’ and 10 was ‘very satisfied’.

East & Partners said that the significance of this slide is highlighted by the fact that of the nine factors monitored in the BBCSM, pricing now achieves the poorest rating only behind convenience.

According to the research house, NAB was the highest ranked bank in terms of pricing, with a satisfaction level of 6.14; the worst performing bank, which was not disclosed, managed a rating of just 3.71.

“The poor rating and continued fall in satisfaction regarding business bank’s pricing is arguably being fuelled by the fact that business customers do not perceive their banks to be fully passing on the unprecedented rate cuts that the Reserve Bank of Australia have implemented,” Robert Morgan, East & Partners’ head of market analysis, said.

Advertisement
Advertisement

 

 

Consumers maintain dissatisfaction with business banks? pricing
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

APRA RBA ta RBA, APRA sing different tune on serviceability buffers

APRA chair Wayne Byres has dismissed the need for a cut to the bu...

loanapplication Remodelled FHB scheme cops backlash

From 1 July, all applications for the FHLDS will require a Notice...

FROM THE WEB