ANZ 'best value for small firms'

FINANCIAL researcher Canstar Cannex Pty Ltd has named ANZ Banking Group as providing the best value banking service for small businesses.

However, the plaudit has yet to boost satisfaction levels among decision makers in the sector, with ANZ still lagging behind some of its big rivals.

Canstar said ANZ's product features were outstanding in the areas that matter to small business including credit facilities and loans.

But this has yet to translate into higher customer satisfaction levels with the bank.

Research house DBM Consultants on Tuesday said Commonwealth Bank of Australia (CBA) scored the highest level of satisfaction among decision makers in businesses considering services provided by the big four banks.

DBM's conclusions were drawn from a six month rolling survey of 7,126 businesses to July.

Among small businesses with a turnover of between $1 million and $5 million, Westpac drew the most applause on customer satisfaction ratings.

ANZ was ranked last behind CBA and National Australia Bank (NAB).

ANZ ranked third for customer satisfaction among decision makers in micro sized businesses that have a turnover of less than $1 million.