2018 Member Survey Insights
We had a fantastic response to the survey this year. Your answers have given us an impressive amount of information about what we’re doing well and opportunities where we can improve our offerings to you.
What You Said
Faster payments: We received a considerable amount of feedback asking for faster payments. The good news – as of February this year we introduced the New Payments Platform (NPP), which means that you can now make and receive payments instantly using Osko and PayID!
High-interest savings accounts: While a lot of members love their Express Saver accounts, some of you also told us you'd like to have the option to earn higher interest on your savings. As a result we will be looking at our savings accounts to see how we can help members further maximise their savings.
Credit card: Over 50% of members told us that they either have a credit card with a different lender or are interested in taking up a credit card with MOVE.
Transaction Fees: When it came to fees your responses were loud and clear: we needed to find a way to reduce transaction fees paid by members as part of their everyday banking.
The good news is that our new fee structure now offers transaction fee-free banking to members who support MOVE Bank by borrowing, saving or investing with us. Since the new structure came into effect on 1 May, the total number of members paying transaction fees has reduced by 36%!
How does MOVE measure up?
As part of this survey, we asked members to rate how willing they are to recommend MOVE to their family and friends. This rating enabled us to determine our net promoter score (NPS), which is the leading indicator of customer satisfaction.
Our members rated us with a positive score of +46 which confirms that our members are very satisfied, and compares exceptionally well to the major banks whose average score was negative -9.77.