Australia’s Best Awards 2018

Congratulations to the Australia’s Best Mozo Experts Choice Award winners for 2018.

These awards are announced once a year, to recognise banking providers who consistently rank among the best. We salute those providers who have enjoyed success in the Mozo Experts Choice Awards over the past 12 months and who consistently provide great value products across a wide range of categories.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

Now in their fifth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace that offer great value to Australians.

Providers don’t pay to be in the running and we don’t play favourites. Our Judges base their decision on hard-nosed calculations of value, using Mozo’s extensive product database and research capacity.

To find Australia’s Best for 2018, we’ve gone back over all the banking awards we judged over the last year and identified which providers are featured most often in our list of best value products. For details on how we crunched the numbers and determined the winners, see our methodology report.

Here are this year’s winners, and just a small selection of their products.

Australia’s Best Bank

ME

Over the last 12 months, ME were the most successful bank in the Mozo Experts Choice Awards, picking up product awards for best value in home loans, credit cards, savings accounts and term deposits. Looking across all products, we found that they had the widest range of highly-ranked products of any bank. This is the second time ME has been named Australia’s Best Bank, having previously won this award in 2016.

Credit cards

Savings accounts

Term deposits

Australia’s Best Customer Owned Banking

Newcastle Permanent

With competitive home loans, personal loans, credit cards and savings accounts, Newcastle Permanent scored the coveted title of the Australia’s Best Customer Owned Banking provider. This will look great on the shelf next to their Mozo Experts Choice Home Lender of the Year Award.

Australia’s Best Small Bank

Qudos Bank

Customer-owned Qudos Bank has an excellent range of great value home loans, as well as ranking well among other product areas over the past 12 months. They outranked every other small bank as well as almost all of the larger ones, proving that bigger isn’t always better.

Credit cards

Savings accounts

Term deposits

Australia’s Best Credit Union

CUA

CUA has taken out the honours of Australia’s Best Credit Union for 2018. Over the last 12 months it won Mozo Experts Choice Awards for a range of personal banking products including home loans, savings accounts and personal loans. They are Australia’s largest credit union, and now also officially the best.

Australia’s Best Major Bank

Westpac

Westpac was the best of the four major banks at offering low fees and competitive rates across the widest range of personal banking products, with their best results among deposit accounts and credit cards.

Savings accounts

Australia’s Best Mobile Banking: Commonwealth Bank

Commonwealth Bank

Australians are increasingly turning to our mobile devices to conduct our day-to-day banking and from a field of 70 mobile banking apps, the Commonwealth Bank ranked the best mobile banking experience according to our money experts. Offering more functionality than any other, and a well-rated layout and design, the CommBank app is the best choice for people who experience their daily banking on the move. To be able to use it, you might consider some of the following products.

Bank accounts

Savings accounts

Credit cards

FAQs:

What are the judging criteria?

To be shortlisted for an Australia’s Best Award, a banking provider needed to have won at least five Mozo Experts Choice Awards for individual products since July 2017. Providers were then assessed on overall performance across every banking award, and ranked according to how often their products ranked better than the others.

Australia’s Best are the providers who appear near the top of our lists of best value products, most often. They don’t need to offer products in every individual category, they just need to be really good at what they do.

What was the criteria for the mobile banking award?

We surveyed the banking app market, comparing 27 key features grouped functions into three key areas: core function, convenience function and extra functions. We also considered customer user data to determine an average user satisfaction score that was factored into the final rankings.

Our awards methodology report has further details outlining each feature and a list of providers that were considered for the awards.

Where does Mozo get all the interest rates and fees and product details from?

Every day, Mozo tracks the pricing and features of thousands of products in banking, insurance and energy. Our in-house research team uses a mix of technology and people to gather data and check our facts, and we maintain an extensive database of information. This is how we can determine which are the best value products, and which are Australia’s Best at consistently offering great value.

Do banks pay to be in the running?

No. Unlike some other awards, there’s no subscription cost and we consider as many providers as we can regardless of whether they have any commercial relationship with Mozo.

Who are Mozo’s product experts?

Mozo has been researching and comparing financial products since 2008, and thousands of Australians use our comparison services each month. Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of financial services experience and 23 years in online financial comparison.

I work for a financial provider, how do we promote our award win?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.