ANZ: Canstar’s Merchant Services Award Winner 2024

In today’s increasingly cashless society, small businesses are totally reliant on their digital merchant services. Should their sales terminals go down, so too does business and profits.

This is why it’s essential for banks to deliver their small business customers totally reliable merchant services that deliver 100% satisfaction.

But which bank offers the best merchant service products to its customers? As part of our mission to inform business consumers of the best NZ has to offer, each year Canstar talks to hundreds of Kiwi small business owners to rate their satisfaction with their banking providers.

For this year’s Most Satisfied Customers Award, we canvassed the opinions of 136 NZ small business owners who rely on their merchant service facilities, across a range of categories, to measure and track their satisfaction.

To decide which merchant service provider offers the best level of customer satisfaction, each was rated across the following categories:

Congratulations to ANZ, the winner of Canstar’s Most Satisfied Customers | Small Business Merchant Services Award 2024.

ANZ is the clear winner in our awards survey, earning great ratings from its customers: top 5-Star ratings across all the categories listed above except for Fees & Charges and Online Reporting, for which it earns 4-Star ratings. 

What Kiwi small businesses want from their merchant services providers

It’s interesting to look back on the results of our merchant services research. Since the introduction of legislation two years ago that set limits on interchange fees, Fees & Charges has fallen down the list of concerns for small business owners when rating their merchant service providers.

From being the top concern in our awards two years ago, Fees & Charges now places second, after Communication, which is the major concern for nearly a third of small business owners in our survey (29%).

Reliability has also dropped in our rankings, from third place two years ago, to fourth, indicating that network reliability issues have become less problematic.

Overall, the main drivers of Merchant Services satisfaction are:

For more details of the ANZ’s Merchant Services Award win, click on the following button:

Most Satisfied Customers | Merchant Services Award 2024

ANZ: Bank of the Year | Small Business Award

This year ANZ is also the winner of Canstar’s Bank of the Year | Small Business Award, its fifth award win in a row. Reporting on ANZ’s win, our research team noted that the bank consistently delivers products and services that place it ahead of the competition:

• Effectively fee-free, high-volume transaction account
• Overdraft account that comes with 200 fee-free transactions per month
• Fully functional overdrafts and term loans
• Market-leading Airpoints, CashBack and Low Rate credit cards
• Call centre open for general business enquiries 12 hours weekdays and 10 hours on weekends
• Business specialists on-call Monday to Saturday
• ANZ’s goMoney mobile app

Our research team also took into consideration ANZ’s strong consumer satisfaction ratings across all categories, including Customer Service and Value for Money.

For more on the ANZ's Bank of the Year | Small Business win, click here!

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. 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.