It's not the first time they've won the awards
ANZ and Kiwibank have both been recognised by Canstar for their exemplary products and services to business customers.
ANZ scooped Canstar’s Bank of the Year Small Business for the fourth year in a row, after clinching Canstar’s Bank of the Year Business Credit Cards award, also for the fourth consecutive year.
Canstar said ANZ’s products and services stood out from the competition – from its fee-free, high-volume transaction account, overdraft account that comes with 200 fee-free transactions per month, fully functional overdrafts and term loans, low-rate and Airpoints rewards credit cards, to a call centre open for general business enquiries 12 hours weekdays and 10 hours on weekends.
Kiwibank, meanwhile, won Canstar’s Bank of the Year Business Bank Accounts Award for the second year running, in recognition of the bank’s “market-leading savings interest rates for businesses,” backed by the “highest levels of customer satisfaction,” Canstar said.
The bank’s Business Edge Everyday account addresses the daily banking needs of business customers and features a $5 monthly account fee, free electronic transactions, and 25 free in-branch deposits each month.
In addition to a variety of competitive term deposit options at Kiwibank, it also offers the Business Online Call savings account, which delivers a bonus interest rate for customers maintaining a minimum balance of $2,000, plus instant access to their funds.
Commenting on ANZ’s win, Jose George, general manager at Canstar New Zealand, stressed the immense value of the bank’s support for small businesses, benefiting both the sector and the country.
“Our annual research shows that small businesses are battle-weary,” George said. “Those that survived the pandemic were then hit with labour shortages, inflation, and rising household costs. Small business owners have had to be incredibly agile, rethinking commercial models, strategies, and revenue flows. That’s why this award is so important. It showcases the bank that stands behind our small business community, which is integral to our economy.”
Lorraine Mapu, managing director for business and agri banking at ANZ, said the bank is passionate about helping business owners start, run, and grow successful businesses.
“Our team works hard to connect and really understand what our customers are dealing with and how we can best support them,” Mapu said. “A thriving small business sector is vital to New Zealand’s economy, and we’re really pleased to see our support for customers once again recognised with this award.”
For Canstar’s 2023 Bank of the Year Small Business award, its research team analysed and compared more than 50 banking products and services across ANZ, ASB, BNZ, Kiwibank, and Westpac, as well as their customer satisfaction.
In the case of the 2023 Bank of the Year Business Bank Accounts Award, seven banks (Heartland Bank, TSB, and those mentioned earlier) were assessed, with each rated for their performance across their outstanding value business savings and transaction accounts, plus customer satisfaction delivered to business clients.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
