Macquarie named Mozo Everyday and Savings Bank of the Year for 2021

By Tom Watson · · 2 min read
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Macquarie has taken out the title of 2021 Everyday and Savings Bank of The Year at the annual Mozo Experts Choice Awards for Bank Accounts and Savings, which were announced this morning.

A mainstay of the Mozo Experts Choice Awards in recent years, this is the first time Macquarie has received the major title, with Awards Judge, Peter Marshall, suggesting that the competitiveness of Macquarie’s deposit products - especially in the current rate climate - helped it stand out.

“Over the last year deposits have become a lot less important for some banks, particularly when compared to lending,” he said. “This hasn’t been the case with Macquarie though. While it has had to cut rates like everyone else, it hasn’t cut as hard, which means it’s managed to maintain the good value of its deposit products relative to competitors.”

“Ultimately it’s encouraging to see Macquarie offering this range of everyday banking and saving accounts that not only offer great value and features, but which everyone can access and use.”

In order to stand out in a field of 92 different institutions, the winner of the Everyday and Savings Bank of The Year Award needs to offer excellent value and features across a range of products - everything from bank accounts and savings accounts to mobile banking apps.

And this year Macquarie did just that, taking out six other Mozo Experts Choice Awards in addition to its major title. They include:

  • Exceptional Everyday Account - For the Macquarie Transaction Account
  • Exceptional Everyday Account - For the Macquarie Platinum Transaction Account
  • Excellent Banking App - For the Macquarie Mobile Bank app
  • Internet Banking - For Macquarie’s internet banking service

As the awards above show, Macquarie also demonstrated particular strength on the technology front - taking out best internet banking for the third consecutive year, as well as an award for excellent banking app for the second year.

“It’s fair to say that when it comes to interacting with banks, a lot of us do that through internet banking or mobile banking apps these days. And given that quite a few bank accounts essentially let you conduct everyday banking fee-free, these digital platforms and the features they offer can be an essential point of difference,” said Marshall.

“Macquarie’s obviously invested a lot of time and resources into making the best internet banking service out there, as it has all the functionality you could possibly want plus a lot of extras. It also has a mobile banking app which is up there with the very best around.”

RELATED: Winners announced in the 2021 Mozo Experts Choice Awards for Savings and Bank Accounts

You can find out more about the Mozo Experts Choice Awards for Bank Accounts and Savings in the link provided, including all the other 2021 winners and a copy of the judging methodology report, by visiting the link.