In an article in The Australian Broker Online it stated that a new survey claimed over half of Australians have experienced a case of “bank rage”, defined as anger or significant frustration toward their financial institution. A Heritage Bank survey found that 53% of respondents to a recent survey have suffered from bank rage in the past, which equates to around 9.1 million Australians.  The survey claims that around twice as many big four bank customers- or 59% – have felt anger and frustration, compared to 31% of customers who use a mutual bank, credit union or building society.The survey, conducted by Colmar Brunton research, asked 1,000 Australians which companies they felt the most frustration towards.

Nearly one in five people said they feel more frustration towards their financial institution than other organisations they deal with, while two in five have already switched institutions because of a very negative experience or incidence.   

John Whitten can be contacted on 0749722081 or 0410433919. You can also email him at jwhitten@ihl.net.au or look him up on the net www.ihl.net.au. John Whitten is a credit representative (CRN 399796) of BLASSA Pty Ltd (Australian Credit Licence No 391237).