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Best banks in Australia

03 November 2015 by News Desk

australian-money (1)The best banks, building societies, credit and loan deals in Australia have been announced at the annual Mozo People’s Choice Banking Awards.

Based on reviews of 170 providers by around 35,000 customers, the best bank in Australia is ING Direct, followed by Queenslanders Credit Union and National Australia Bank. The awards also revealed the level of customer satisfaction across the country, which fell slightly to 7.82 compared to 7.85 in 2014.

ING Direct won Best Bank for the sixth year in a row, Greater Building Society took home its third award for Best Building Society and NAB was voted Best Big 4 Bank for the fifth year running.

Customers voted for their favourite banking products, transaction and savings accounts, which top the charts, while high interest charging credit cards and personal loans are the least loved.

Females aged 18-24 and earning less than $35,000 a year are the happiest with their bank, while those aged 45-54 and those earning over $180k gave their bank the lowest scores.

Bank customers in Queenslander were the happiest, rating their bank an average 7.87 out of 10, followed by South Australia (7.80), Tasmania (7.75) and New South Wales (7.71). The least happy with their banks were Victoria (7.64), the Australian Capital Territory (7.62), and Northern Territory (7.58).

Mozo People’s Choice Banking Awards

Best Bank- ING Direct
Best Savings Account – ING Direct
Best Bank Accounts – ING Direct
Best Home Loans – Queenslanders Credit Union
Best Personal Loans – Queenslanders Credit Union
Best Credit Union – Queenslanders Credit Union
Best ‘Big 4’ Bank – NAB
Best Building Society – Greater Building Society
Best Mutual Bank – Hume Bank
Best Credit Cards – Bendigo Bank
Best term Deposits – Bendigo Bank

Customers rate their banking provider on overall satisfaction, price, features, customer service, convenience and trust.

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