TSB Rated NZ’s Best Bank by Everyday Kiwis

Congratulations to TSB Bank – the homegrown bank has done it again, taking home yet another Canstar award. Its latest win brings its 2023 tally of top accolades to three:

• Most Satisfied Customers | Banking Award
• Most Satisfied Customers | Credit Cards Award
• Bank of the Year | Home Loans

It’s a remarkable achievement, and one that shows that both Canstar’s expert research panel, which judges the Bank of the Year Award, plus the great Kiwi general public, whose ratings form the basis of our Most Satisfied Customers awards, are in agreement when it comes to rating TSB Bank at the head of the banking field.

This year for our Most Satisfied Customers | Banking Award, we canvassed the opinions of 4240 everyday bank customers. To decide which bank offers the best level of customer satisfaction, we asked them to rate their banks’ performance across a range of categories:

And out of the banks in our survey – ANZ, ASB, BNZ, Kiwibank, The Co-operative Bank, TSB Bank and Westpac, there was one clear winner: TSB Bank.

TSB Bank: Winner Most Satisfied Customers | Banking Award 2023

In our award ratings, TSB Bank scores excellent feedback from its customers across nearly all categories, including excellent ratings for Value for Money, Fees and Charges, Customer Service and Communication. These 5-Star ratings span all of TSB Bank’s banking products:

Everyday Accounts

• Connect Plus: For day-to-day spending, plus chances to win a car every month
• Personal Account: Daily account that offers interest on balances over $10,000
• Youth Accounts: Help save for your child’s future and teach them about handling their personal finances
• Student First: Flexible everyday account, for students and apprentices

Savings Accounts

• WebSaver: Online savings account featuring 24/7 access through digital banking and a monthly draw to win $25,000
• Horizon Savings: Offers full access to your money, including ATMs and over the counter in-bank withdrawals

Investing

• Term Deposit: Great rates for fixed-term savings accounts
• Premier Account: Everyday account with interest rates that increase with your balance. Plus be in to win $25,000 every month
• KiwiSaver: Save for your retirement, or a first home, with the Fisher Funds KiwiSaver Scheme

TSB Bank’s Award Winning Credit Cards

As the winner of Canstar’s 2023 Most Satisfied Customers | Credit Cards Award, TSB Bank also offers two great cards. Together, they deliver the lowest interest rates in the market plus some of the best rewards.

The TSB Bank’s low-rate card is nearly 3% cheaper than the next most competitive product. And for a $90 annual fee, its Platinum Mastercard earns $1 cashback for every $70 spent, with no cap on the amount of cashback you can earn.

TSB Bank Low Rate Mastercard

Features:

• Mobile phone protection (T&Cs apply)
• Up to 55 days interest free

Fees and charges:

• $20 annual fee
• Additional card: $5 p.a.
• Purchase & cash advance interest rate: 9.95% pa

TSB Bank Platinum Mastercard

Features:

• $1 cashback for every $70 spent on eligible purchases
• Mobile phone protection (T&Cs apply)
• Domestic & overseas travel insurance (Exclusions, T&Cs apply)
• Up to 55 days interest free

Fees and charges:

• $90 annual fee
• Additional card: $5 p.a.
• Purchase interest rate: 20.95% p.a.
• Cash advance interest rate: 22.95% p.a.

Compare Awards Credit Cards

TSB Bank: Canstar’s Bank of the Year | Home Loans 2023

And, to top it all, this year, TSB Bank also took out our Bank of the Year | Home Loans Award. The award, which is awarded by our expert research panel, recognises the lender that not only delivers great customer service, but also provides mortgage products that combine the best features with the lowest costs.

In total our research team analysed over 63 mortgage products, from 12 lenders, across six different profiles:

• Residential mortgages: Fixed, Floating & Line of Credit
• Investment mortgages: Fixed & Floating

Each home loan reviewed was awarded points for the array of features it offers, and its comparative price, which includes rates and fees.

TSB Bank’s wins are impressive, especially when you consider the players in our award fields include some of the biggest financial institutions in Australasia. In comparison, TSB Bank is a smaller 100% NZ-owned financial institution that has over 160 years’ history providing banking services to Kiwis.

You can find more details on TSB Bank’s credit cards win here, or for more details on its Bank of the Year | Home Loans Award success, click here. And for more on TSB Bank’s Most Satisfied Customers | Banking Award 2023, click the big button below:

Most Satisfied Customers | Banking Award 2023

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.