Source: Radio New Zealand
Consumer NZ says no bank has earned one of its People’s Choice awards for customer satisfaction this year. RNZ / Supplied
Consumer New Zealand says no bank has earned one of its People’s Choice awards for customer satisfaction this year.
Based on a survey of 1958 New Zealanders, no bank met the consumer watchdog’s threshold for the award for the first time in 10 years.
Consumer chief executive Jon Duffy said Westpac ranked lowest of all banks for responsible lending, value for money, timely responses, fees and charges, phone banking, branch banking, and the number of customers rating themselves “very satisfied”.
Kiwibank ranked below the sector average of 75 percent in trust, at 70 percent.
But he said the survey showed widespread dissatisfaction with banks.
Consumer chief executive, Jon Duffy. Jon Duffy
“Everyday banking hasn’t kept pace with what customers expect.
“Many customers don’t feel they’re getting fair value, especially when it comes to fees, interest rates and how banks respond when something goes wrong.”
Only four percent of those surveyed switched banks in the past year, and Duffy encouraged consumers to shop around.
“It’s consumer behaviour that helps encourage competition and put pressure on banks to sharpen pricing, lift service and earn trust.
“By always keeping an eye out for the best deal and moving when you find a better one, New Zealanders will find they have more options and better leverage.”
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
Original source: https://nz.mil-osi.com/2026/05/20/no-bank-meets-consumer-nzs-customer-satisfaction-award-criteria-for-first-time-in-10-years/