NZ's best banks as voted by Kiwis

Kiwis have chosen their favourite banks. Photo/123RF

Three New Zealand-owned banks have taken out the people's choice award in a survey by Consumer New Zealand.

TSB Bank, The Co-operative Bank and Kiwibank have been jointly named after a nationwide survey of 1085 Kiwis.

TSB was top in customer satisfaction at 87 per cent while The Co-operative Bank rated 77 per cent and Kiwibank was 71 per cent.

Derek Bonnar, Consumer New Zealand's general manager of business, said the local banks had outperformed their Australian-owned rivals when it came to keeping customers happy.

"Our survey found these three New Zealand-owned banks were a step ahead when it came to customer satisfaction.

Bonnar said two-thirds of TSB Bank and Kiwibank customers rated doing business with a New Zealand-owned company as a key benefit.

Local bank customers were also less likely to be paying monthly account fees, as a result, they were more likely to feel the bank's fees were reasonable, he said.

"It's unusual to have three winners in one category. However, all three deserve the recognition and we congratulate them on an outstanding achievement."

It was the second year in a row that TSB bank received the top award.

TSB Bank chief executive Kevin Murphy said it was pleased to have the highest customer satisfaction score of all the banks.

"Being recognised by the public for our exceptional customer service, amongst much larger competitors, tells us that our efforts to satisfy our customers remain a cut above the rest."