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NAB has worst customer service of big four banks

National Australia Bank (NAB) has recorded the worst customer service of the big four banks across two separate surveys released this week.

National Australia BankIn the first by Melbourne consultancy DBM, NAB ranked last of the big four banks, with the Commonwealth Bank of Australia (CBA) and ANZ Banking group leading the results, The Australian newspaper reports.

DBM’s report, the monthly Financial Services Monitor is focused on small business banking down to the micro level and surveyed 18,000 customers The Australian said.

In the other report, from TNS Business Finance Monitor (BFM), NAB fared worst again, with ANZ and St George Bank emerging as industry leaders in terms of business consumer’s satisfaction.

Of the big four banks, ANZ recorded a satisfaction level of 73.8% amongst business banking customers, with Westpac trailing slightly at 71.1%.

Coming in behind was CBA and finally NAB, with figures of 68.2% and 66.7% respectively.

However, outside of the big four St. George is sitting comfortable atop the list with a business banking satisfaction level of 74.6%.

The BFM report showed that 72.5% of all business banking customers were satisfied with the relationship with their main financial institution – a decline of 5% from this time last year.

The statistics reveal that business consumer satisfaction for financial institutions plummeted during the Global Financial Crisis, with NAB recording the greatest fall.

The last 6 months have seen a slight improvement of 0.9% satisfaction across all financial institutions, with an increase of 1.6% amongst the big four.

“These positive movements, although slight at present, provide hopeful signs for the rest of the year and will be monitored closely over the coming months” the report stated.

“When looking at the more recent satisfaction trends, there are continuing signs of an easing of the 2009 downturn.”

Common themes among the two reports were the universal condemnation of NAB and the praise of ANZ amongst business customers.

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David Olsen

David Olsen

An undercover economist and a not so undercover geek. Politics, business and psychology nerd and anti-bandwagon jumper. Can be found on Twitter: <a href="http://www.twitter.com/DDsD">David Olsen - DDsD</a>

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