Australia’s Best banks named and famed
Mozo’s first ever Experts Choice Australia’s Best awards have been announced, recognising the banks, credit unions and financial institutions offering Aussies the best value across a range of financial products.
To be eligible for the awards, providers had to have won at least one Mozo Experts Choice Award in the last 12 months, in categories that included home loans, credit cards, savings accounts and travel money.
Out of 68 providers that made the cut, 9 providers were crowned as Australia’s Best for having the most points across the various Experts Choice categories.
“The Australia’s Best awards are a culmination of the Experts Choice awards,” explained Mozo Data Manager Peter Marshall. “We wanted to identify the best banks for those customers who want to have their home loan, savings account, credit cards and whatever other financial products they need all in the same place, without sacrificing value.”
Innovations in the market are also being recognised with the Experts Choice New Product awards, which are awarded to products launched in the last 12 months and which bring Aussie customers significantly different banking options to what was on offer before.
So, without further ado, here are the winners! Mozo would like to congratulate:
Australia’s Best Bank - ME
ME was an all-round winner in the Mozo Experts Choice awards, bagging awards in two home loan categories and coming out on top as Savings Bank of the Year 2016, with wins across term deposits, bank accounts and savings accounts. Its low rate, low fee credit card, frank, was also a winner.
Australia’s Best Mutual Bank - Victoria Teachers Mutual Bank
Customer-owned and focused, Victoria Teachers Mutual Bank performed across just about every category you can think of. It won awards in three Experts Choice Home Loans categories, as well as for its new and used car loans and unsecured personal loan. Savvy spenders can check out its award winning low rate, low fee credit card, and for international shoppers, its travel debit and credit cards were also winners. For savers, Victoria Teachers Mutual Bank also excelled in short and medium term deposits.
Australia’s Best Credit Union - Gateway Credit Union
Gateway Credit Union is a great option for budget conscious spenders. It took out Experts Choice Awards for Best Value Offset and Fixed Rate Home Loans, as well as for its unsecured personal loan offer. It also won an award for its fee-free bank account - and international spenders should remember to link this account to an award winning Gateway travel debit card.
Australia’s Best Online Bank - UBank
For those who like to do their banking from the comfort of their home, online provider UBank is the perfect pick. An all-round winner, it took out awards across three Experts Choice Home Loan categories, as well as Best Value Ongoing Bonus Rate and Best Value Base Rate on its savings account offers. Aussie globetrotters should also consider having UBank’s award winning travel debit card in their pocket.
Australia’s Best Major Bank - NAB
Out of the big four, Mozo’s Experts have crowned NAB the best value pick for those customers who prefer to stick with a major bank. It’s a great option in particular for borrowers and spenders. It took out Experts Choice Awards for Best Value Platinum and Best Value Premium Rewards Credit Cards, and for the Best Value Big 4 Prepaid Travel Card. In the Home Loans Experts Choice Awards, NAB won for Best Major Bank First Home Loan and Best Major Bank Variable Rate Home Loan awards. Nab was also the only Big 4 bank to take out an award for Best Value Fee Free Bank Account.
Experts Choice Overall Value Awards
Honourable mentions go to these providers, who performed highly across the categories.
Experts Choice New Product Awards
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This everyday bank account is perfect for Aussies sick of a boring old bank account. It has no service or domestic transaction fees, and comes with a bunch of great benefits that you’d usually need a platinum credit card to get your hands on, including 90 day theft and damage protection and a 24/7 concierge service (if you deposit over $4,000 a month).
*All rates and info correct at time of publishing. Please click product link to check current details.