Compare banking satisfaction in New Zealand at Canstar. The Co-operative Bank, ANZ, ASB, BNZ, Kiwibank, TSB and Westpac were compared on customer service, digital banking, problem resolution, fees/charges, product range, interest rates, self-service functionality and overall satisfaction.
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Overall satisfaction* |
Customer service |
Digital banking |
How problems and inquiries are dealt with |
Fees/charges |
Product range |
Interest rates |
Self-service functionality |
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*Overall satisfaction is an individual rating and not a combined total of all ratings. Brands with equal overall satisfaction ratings are listed in alphabetical order. Canstar research finalised in April 2019, published in June 2019.
The Co-operative Bank rated number one for customer satisfaction
Prior to this award, the Co-operative Bank received the Most Satisfied Customers Award on three separate occasions – in 2016, 2014 and 2011. The Co-operative Bank, originally set up as the Public Service Investment Society in 1928, became a registered New Zealand bank in 2011 and now has approximately 161, 000 customers nationwide. It offers a variety of products, including credit cards, loans, everyday accounts, savings accounts and insurance. Banks provide these services, and more, which sees them play a vital part in New Zealanders’ everyday financial needs. Every individual has different financial requirements, so it’s important you find a bank suited to your needs.
In this year’s satisfaction ratings, the Co-operative Bank is the only bank to be rated 5-stars for customer service, digital banking, problem resolution, product range, interest rates and overall satisfaction. Canstar’s Most Satisfied Customers Award winner is calculated from the results of a national survey. Canstar asked New Zealanders to rate their bank on a number of factors, including customer service, digital banking and problems resolution.
From home loans to savings accounts, New Zealand banks offer a range of products and services, as well as financial advice. In fact, Canstar’s survey reveals 27% of respondents see their bank as a place to get good financial advice. In this year’s satisfaction ratings, seven banks qualified for Canstar’s Most Satisfied Customers Award – The Co-operative Bank, ANZ, ASB, BNZ, Kiwibank, TSB and Westpac. While there may not be as many options as overseas, choosing a bank can still be difficult. It pays to focus on what is important to you and choose a bank that succeeds in these areas. Customer service and digital banking were the biggest drivers in the Co-operative Bank taking out this year’s Most Satisfied Customers Award. So, if these are imperative factors to you, then the Co-operative bank could be an option for you!
Canstar surveyed more than 2500 New Zealand consumers across a range of categories to measure and track customer satisfaction, via ISO 26362 accredited research panels managed by Qualtrics. The outcomes reported are the results from customers who have one or more accounts or products with a bank. In this case, 2465 New Zealanders.
Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then by mean overall satisfaction. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criteria.
