The importance of being very satisfied

While the big banks have been effective in narrowing the gap between their customer satisfaction levels and those of their smaller rivals, they still have some work to do to get their "very satisfied" customer numbers up to competitive levels.

Roy Morgan Research has broken down its consumer banking customer satisfaction survey to report on the customers who are very satisfied with their banks.

Leading the way is Teachers Mutual Bank, with 66.5 per cent of its customers reporting that they are very satisfied. Next is bankmecu with 59.8 per cent, Bendigo Bank with 53.9 per cent, ME Bank with 52.8 per cent and Beyond Bank with 50.8 per cent.

Among the big banks, 36.1 per cent of CBA customers report that they are very satisfied, 35.6 per cent of NAB customers, 34.1 per cent of Westpac customers and 32.7 per cent of ANZ customers.

Roy Morgan's industry communications director Norman Morris said that with satisfaction at 20-year highs it was important to focus on the very satisfied customers.

Morris said: "They are more likely to act as advocates and recommend their bank to others, as well as have a higher share of wallet than a 'fairly satisfied' customer."

About 80 per cent of very satisfied customers are "highly likely" to recommend their bank to others, compared with fewer than 50 per cent of "fairly satisfied" customers.

Overall, customer satisfaction rose 1.1 percentage points over the 12 months to March, maintaining the steady upward trend of the past decade.

Among the big banks, Commonwealth Bank has extended its margin over its peers.