10 Countries with Best Banking Experience

Do you visit banks? Though there are many banks around you but you may choose one among them which provides you both quick services and high level of satisfaction. All over world, banks recorded an average of 65 percent in terms of customer satisfaction, according to the 2012 Retail Banking Voice of the Customer Survey, Capgemini. 

Based the survey the top 10 countries with best banking experience are reported by Yahoo.com

Turkey

Turkey is listed number 10 on the customer experience index with 74.6 percent. As of May 2012, there are 48 banks in total, out of which 31 are deposit bank, 13 are development and investment bank and 4 are participation banks.

Germany

Germany is listed number 9 on the customer experience index with 74.6 percent. The German banking system relies on three pillars: the public banks, the cooperative banks, and the purely private banks. Germany’s private bank, the Deutsche Bank, is a leading global investment bank.

South Africa

South Africa is at number 8 on the customer experience index with 74.9 percent.The four largest banks in South Africa are Absa Bank, First National Bank, Ned bank and Standard Bank. Banking services in South Africa are as sophisticated as those in the USA and Europe. There are ATMs in cities and towns; the country has also introduced cell-phone banking which is aimed to help the poorest in the most remote areas to take advantage of banking facilities.

Czech Republic

Czech Republic is at number 7 on the customer experience index reading 74.7 percent. The banking sector in the country is a performing and profitable business, playing a key role in the development of the Czech economy. During the global financial and economic crisis of 2008-2009, it demonstrated a high degree of stability along with significant levels of innovation and development of banking services.

United Kingdom

United Kingdom is listed number 6 on the customer experience index with 75.2 percent. Banking in U.K can be considered to have started in the Kingdom of England during the 17th century. The first activity recognized as banking was by goldsmiths who, after the disbanding of English monasteries by Henry VIII, began to accumulate significant stocks of gold.

Norway

Norway is listed number 5 and was the Western European leader with a 76.2 percent. For opening a bank account, a Norwegian would be required to have a Norwegian national identity number or a D-number, depending on his residency status. On the other hand a non-Norwegian shall be asked to present his passport before opening account. More and more banking in Norway is moving online. But online banking can be challenging if you don’t speak Norwegian, as banks don’t have English-language versions of the protected areas of their websites.

Australia

Australia is listed number 4 on the customer experience index with a positive response of 76.5 percent. The banking sector in Australia includes of a number of banks licensed under the Banking Act 1959, foreign banks licensed to operate through a branch in Australia, and Australian-incorporated foreign bank subsidiaries. The banking system is competitive, liquid and well developed.

India

India is listed number 3 on the customer experience index with 77 percent of positive response. State Bank of India is the oldest and the largest bank of India, even though the name was not the same as today rather was "The Bank of Bengal which started its operations in Calcutta in June, 1806. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the establishment of private banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935.

United States

United States is listed second with a customer experience index of 79 percent. However, banks in North America had the most success in customer satisfaction, at 80 percent. Banking in the U.S is regulated by both the federal and state governments. As on December 31, 2011, the five largest banks in the United States were JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs.

Canada

Canada’s banks top the list on the customer experience index at 79.3 percent. Canada leads all countries with the highest levels of positive customer experience by increasing its satisfaction level to 82 percent. Banking in Canada is widely considered the most efficient and safest banking system in the world, ranking as the world's soundest banking system for the last three years according to reports by the World Economic Forum.