Bank research show customer dissatisfaction
13 February 2009
Recent banking research has shown a strong fall in customer dissatisfaction when businesses ranked their bank's performance in nine different areas. Interest rate cuts were seen as the major reason behind the fall in satisfaction with customers with many customers unhappy that banks did not pass on any interest rates cuts made by the Reserve Bank of Australia.
Overall, banks received a score of 4.91 which was attributed to the banks lack of response to any Reserve bank interest cuts (on a scale of 0 being very dissatisfied and 10 being very satisfied).
The Reserve Bank has lowered the official interest rates to hold at 3.25 per cent in a move to promote the economy.
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