Consumer NZ's latest bank satisfaction survey reports that 82 percent of respondents think the profits banks make show they are charging too much.
Sixty percent of people surveyed pay regular account fees, but only 34 percent were very satisfied their bank's fees were reasonable.
Offering lower fees and charges was the top suggestion when people were asked how the banks could improve customer satisfaction levels.
The survey also found that the customers of the local banks were more likely to be satisfied they were getting a good deal.
Eighty-three percent of TSB customers and 65 percent of The Co-Operative Bank's customers were very satisfied their bank's fees were reasonable.
Customers of New Zealand banks were also more likely to be satisfied when they were asked about the overall performance of their bank.
Sixty-seven percent of New Zealand bank customers were very satisfied, compared to 52 percent of customers of the Australian banks.
The survey also questioned respondents on their use of technology, such as smartphone banking.
Internet banking was used by 95 percent of respondents, while just over half were using a smartphone app.
But eighty-nine percent of respondents used branch banking.
A total of 1020 New Zealanders aged over 18 were surveyed.