Around half a million small business customers of National Australia Bank will share in the savings from the effective elimination of several dishonour fees announced yesterday by the bank.NAB foreshadowed dropping some penalty fees on business bank accounts six months ago when it made similar changes to retail transaction accounts. The bank wanted more time to consider its options, though."We wanted to do research into what customers see as a fair fee and an unfair fee," Joseph Healy, group executive NAB Business Banking said yesterday."Part of the commitment we made last year was to build the trust and reputation of the bank."The four fees eliminated are outward and inward cheque dishonours, electronic payment dishonours, periodic payment deferrals and cash handling fees for large deposits and withdrawals.Healy confirmed the estimate of a loss in fee revenue from the move of a little more than $40 million.There is certainly evidence of increasing irritation by small business toward their banks, though fees may only be one driver.The monthly Business Banking Customer Satisfaction Monitor published by East & Partners shows that small businesses rate their banks, as of November 2009, at 4.44 on a scale that ranges up to 10. The indicator has declined consistently over 18 months.East also point out, in a research note published yesterday, that two of the big four banks now score lower than three on this monitor. NAB, however, rates most highly of the four. NAB leads the major banks with a score of 6.53, a similar ranking to St George, and has done so for around 15 months. Healy said that "I do accept that SMEs have become increasingly dissatisfied with banks" but suggested that the annoyance was not solely due to increased margins on business loans."I think this [penalty fees] is a large part [of the reason], though."In large part it is because of the way that banks conducted themselves over the last 12 to 18 month during a time when the economy was much more uncertain."Business customers, and SMEs in particular, were very concerned about the profits of the bank and the pricing of risk, and the terms and conditions that we're trying to negate.'Banks have not acquitted themselves well  … in what was a challenging 12 to 18 months."Healy could not comment on the extent to which the reduction in penalty fees on retail accounts had attracted new business for NAB. A spokesperson later emailed to say that "We've seen an encouraging increase in the number of enquiries from new customers and have experienced a significant drop in the number of complaints."