TSB Bank is the 2016 People’s Choice Award winner
22 June 2016
TSB Bank has won the 2016 Consumer NZ People's Choice award for Banking.
People's Choice winners are identified through detailed analysis of Consumer NZ surveys. The banking survey is a nationally representative sample of 1020 Kiwi's aged 18 and over and asks respondents to rate their main bank across a number of variables.
To achieve the People's Choice award, a brand must stand out in terms of customer satisfaction. This is the first time a Consumer NZ People's Choice award has been awarded in the banking category.
Consumer NZ general manager, Derek Bonnar said the local banks outperformed the big four Australian owned banks. "Combined, customers of the local banks were more likely to be very satisfied across a number of measures, including competitive interest rates, advice, timely responses and value for money".
83% of TSB customers were very satisfied, this compared with an industry average of 55%.
TSB Bank CEO Kevin Murphy is delighted with the result. "We are honoured to be awarded the Consumer NZ People's Choice award for Banking. This award lets us know that being bigger doesn't always mean better. Being recognised by the public for our exceptional customer service, amongst much larger competitors, tells us that our efforts to satisfy our customers remain a cut above the rest".
Consumer NZ is an independent, not for profit organisation.