New findings of high levels of customer dissatisfaction with Australia’s major four banks should serve as a wake-up call to all Australian banks, the Finance Sector Union said today.

FSU National Secretary Leon Carter said today that public polling conducted by the FSU and News Ltd papers, reinforced the message that has been coming from finance sector workers for some time.

Mr Carter said that of all the banks, Westpac customers were the most dissatisfied with 56 per cent of customers thinking their bank was moving in the wrong direction.

“Westpac’s decisions to move too far on interest rates, provide inadequate staffing, send Australian jobs offshore, harass their staff to urge customers to buy more debt, and stunts like the banana smoothie ad are reflected in the public’s perception of them.

“Unfortunately all banks engage in these sorts of tactics; huge CEO and executive pay packets, spiraling fees and interest rate rises, super profits – the Australian public is fed up and want the Government to do something about banks’ behaviour.

“We know our members continue to work hard to deliver great service despite their employers best efforts to make it harder for them to do so. Bank workers, like the public want their banks to be better.

Other result of the survey, which was completed by 2744 customers nationwide, include:

90% want banks to stop off-shoring Australian jobs
87% think there should be a requirement for Australian banks to let customers know if personal data is being sent off-shore
81% of customers agreed that banks should balance their corporate interests with Australia’s interests
57% said they always have to wait in a queue
42% thought their bank was getting worse at showing a commitment to employing Australians
and 42% agreed with the statement: ‘Customer service has gotten worse. The banks have closed branches, and have not hired enough people to help on the phone or online so I just end up waiting longer.’

The Finance Sector Union is calling on all banks to rebuild trust by embracing Better Banking principles such as ending the practice of linking staff pay rises to selling debt to customers; investing in Australian jobs to reduce queue times and end offshoring; and capping the unjustified levels of executive remuneration.

Full survey results available at www.better-banking.org

Ends

Spokesperson:        Leon Carter, National Secretary, 0409 946 597
Media:                    Rod Masson, 0408 374 677