ING Direct considered Australia's Best Bank, Mozo finds

Mozo

Tuesday 14 September 2010

ING Direct has been voted Australia's Best Bank in a survey of 23,000 banking customers by finance comparison and reviews site mozo.com.au.

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Mozo collated customer ratings and reviews from the last 12 months as part of its People's Choice awards, making it one of the biggest personal finance studies Australia has seen.

Coming in close behind ING Direct were RaboDirect and UBank – new challenger banks which were praised for their competitive financial products, with UBank winning Best Savings Accounts.

All of the top three banks received positive reviews for pricing, customer service and trust.

Mutuals rounded out the list of Australia's top ten financial institutions, with Victoria Teachers Credit Union winning the vote for Best Credit Union and the Greater taking Best Building Society.

Mozo visitors ranked the big four banks as being among the ten worst financial institutions in the country, though consumers were even more scathing of US finance giants GE Money, American Express and Citibank which were all criticised for heavy-handed fees, uncompetitive interest rates and poor customer service.

Rohan Gamble, managing director of mozo.com.au said: "Customers have spoken and the big banks should sit up and take notice. The challenger banks and mutuals are delivering competition and winning customers with competitive pricing, great customer service and a customer first focus that engenders trust."

For the complete Mozo People's Choice Awards winners list, go to mozo.com.au/peopleschoice.

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