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TSB and Kiwibank secure Roy Morgan's monthly financial services sector customer satisfaction gongs for May

Personal Finance
TSB and Kiwibank secure Roy Morgan's monthly financial services sector customer satisfaction gongs for May

TSB Bank and Kiwibank have secured Roy Morgan Research's monthly financial services sector customer satisfaction awards for May.

TSB was named Financial Institution of the Month for the eighth consecutive month with a score of 92%. It came in ahead of second placed Co-operative Bank with Kiwibank third, insurer State fourth and AA Financial Services & Insurance fifth.

SBS Bank, which dominated this award in 2011 and 2012, has dropped out of the running of late because it's not registering enough responses from customers to meet Roy Morgan's sample threshold. A requirement for the financial institution award is that Roy Morgan receives at least 100 responses from customers of any institution over a six month period.

Meanwhile, Kiwibank has again won in the Major Bank of the Month category, which is for banks with at least 7.5% market share. Kiwibank has won this category every month, and for the 2011 and 2012 years, since inception in January 2011 except for March this year when BNZ won.

Kiwibank came out on top in May with 83% satisfaction. Second was BNZ, with ASB third, National Bank, whose brand is being phased out by the ANZ group, fourth, and Westpac fifth. Despite continuing to rate ahead of ANZ, National Bank slipped a position from April, with ASB moving ahead of it.

See how Roy Morgan scores customer satisfaction here.

And see a video interview here with Roy Morgan Research's Asia-Pacific regional director Debnath Guharoy on how being locally owned helps boost customer satisfaction.

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