Customers warm to the big four

In the six months to August the CBA was just 1.3 points behind ANZ, which has a 76 per cent satisfaction rate among its customers, the closest it has been in a decade.

Overall customer satisfaction among the big four banks rose by three points on the corresponding period last year. The big four banks still lag smaller rivals such as Bendigo and ING by at least 10 percentage points.

But the gap between the NAB at the bottom and ANZ at the top is shrinking. It is now just 3.8 points; five years ago it was 13 points.

Westpac is showing signs of recovering from its slump in satisfaction that followed its decision to supercharge home loan interest rates late last year, recording the largest rise in the last three months and moving back to third place ahead of the NAB. The NAB has enjoyed the biggest improvement, rising 4.7 points. Roy Morgan said customers were probably rewarding it for reducing fees and charges on its accounts.

But Norman Morris, the industry communications director at Roy Morgan, who collates the research, said: "The gap is narrowing to such an extent it largely negates the advantage of being the best performer as there's now very little differentiation or clear positioning among the big four on this important metric."

But an ANZ spokeswoman said this was no time for the bank to rest on its laurels. Its current campaign starring the teller from hell Barbara is resonating well with the public. "We recognise this is not the time to be complacent. There is much more to do to ensure we are meeting our customers' needs."

She said it would continue to invest in better access to branches and ATMs, extended hours, and simplifying products and transparent fees.