Talk Money: May 20, 2016

Tony Field (Paul Henry)
Tony Field (Paul Henry)

Consumer NZ says bank profits are a sore point for customers.

Its latest bank satisfaction survey reports that 82 percent of respondents think the profits banks make show they are charging too much.

The survey also found the customers of the New Zealand 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 more likely to be satisfied overall.

Overall, sixty-seven percent of New Zealand bank customers were very satisfied, compared to 52 percent of customers of the Australian banks.