If you’re on the lookout for a great value banking provider, the Mozo Experts Choice Award winners list could be the golden ticket to finding your financial match!
Australia’s Best Banking awards showcase the banking providers that have consistently delivered the best value for money products and services to their customers over the past 12 months based on our expert research. Each winner ranked highly across a wide range of banking products and were awarded for outshining the competition in 2023.
ING offers Australians a leading range of competitively priced home and personal loans, credit cards and deposits, being awarded the crown for the best overall banking product range in 2023. Over the past year, ING have won an award for Home Loans, two Deposit awards, and an award for their leading Platinum Cashback Credit Card, displaying the breadth of their offerings.
LVR<80%, Owner Occupier, Principal & Interest
LVR<80%, Owner Occupier, Principal & Interest
Qudos Bank was identified once again as the leading Customer Owned Bank in 2023. Qudos won two Home Loan awards and another title in our Term Deposit awards over the last year. But it’s when looking across the range of products, compared with other customer owned banks, that it becomes apparent that Qudos looks after its customers no matter what their needs.
Owner Occupier, Principal & Interest, LVR<70%
Owner Occupier, Principal & Interest, LVR <70%
Up to 5 years old, Variable, Secured
QBANK is available to people who work in Queensland’s emergency services, and they offer them one of the best suites of banking products. Three award wins in home loans, two in credit cards, and one each in bank accounts and car loans, all provide strong evidence of their competitive rates, fees and features.
Owner Occupier, LVR <80%, over $150,000
LVR<80%, Owner Occupier
Easy Street clearly demonstrates the advantage of being a customer owned and online-only bank, offering a highly competitive selection of home loans, savings, credit cards and personal loans. They have taken out a combined six Mozo awards over the past 12 months.
Principal & Interest
Owner Occupier, Principal & Interest
Police Credit Union took out our Best Credit Union award for their exceptional home loan offerings, excellent personal and car loans, and their competitive deposit and credit card offerings, totaling six awards in the assessment period. With branches across South Australia and the Northern Territory, originally supporting police officers and their family members, they are now open to anyone to join and take advantage of their leading banking products.
Police Credit Union
Owner Occupier, Principal & Interest, LVR<80%
Principal & Interest, LVR <70%
Special Offer, Secured, Variable
For those who prefer to bank with one of Australia’s ‘big 4’ banks, we awarded Commonwealth Bank the Best Major Bank award for 2023. Their Smart Access account won an Exceptional Everyday Bank Account award and their Ultimate Rewards Credit Card suite was named best for Platinum Rewards and Cashback value. Their other products also have the leading balance of competitive pricing when stacked up against the other major banks in our assessments.
Owner Occupier, Principal & Interest, LVR <60%
LVR <60%, Owner Occupier, Principal & Interest
Now in their tenth year, the Mozo Experts Choice Awards present an opportunity to highlight products in the market we believe offer great value to Australians.
In carrying out the Mozo Experts Choice Awards for Australia’s Best Banking 2023, we assessed 85 Authorised deposit taking institutions, of which 65 had won at least one banking Mozo Experts Choice Award in the period July 2022 to May 2023.
“There are a vast range of banks to pick from in Australia, and with so many options it can be very hard to figure out where you should do most of your banking,” said Mozo Experts Choice Awards Judge Peter Marshall.
“The Mozo judges work on finding the best banking products throughout each year looking at just one type of product at a time, then once a year they use that information to figure out which banks offer their customers the best deals overall, for everything from home loans, credit cards, personal loans, everyday bank accounts and savings accounts. So if you want to make sure you're getting a good deal, for all your banking needs, check out the winners of this year’s awards.”
For details on how we crunched the numbers and determined our winners, see the 2023 Mozo Experts Choice Australia’s Best Banking Awards methodology report.
We couldn’t have a name like the Mozo Experts Choice Awards without a dedicated and experienced team of product data analysts at the helm. Combined they have decades of experience behind them. Meet them below.
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. See our 2023 Mozo Experts Choice Australia’s Best Banking Awards methodology report for detailed information on how we performed product comparisons and determined the final winners for 2023.
We aim to include most banking providers in the market in the Mozo Experts Choice Awards. However, not all banks and credit unions in the market will be included in our review. Any provider we review must be available at the time of our analysis and any offers included must be available to the general public on the provider’s website.
For the 2023 Australia’s Best Banking Awards, Mozo assessed 85 Authorised deposit taking institutions, of which 65 had won at least one banking Mozo Experts Choice Award in the period July 2022 to May 2023.
The Mozo Experts Choice Awards are overseen by AJ Duncanson and Peter Marshall. AJ is Mozo’s Data Director, a data scientist and actuary who has worked in financial services and product comparison for over 30 years. Peter has been in the industry even longer, and as Research Manager he leads the team of analysts that gather information and compare products every day, and perform all the calculations behind the Mozo Experts Choice Awards.
Please get in touch with us to discuss by email should you have any queries.