Who owns my bank?

Your bank could be owned by another, larger bank. Check who owns your bank here, and what impact this has on your money.

Alison Banney's headshot

By

Alison Banney

Updated

Fact checked
4.6 based on 835 reviews

Key takeaways

  • Many smaller banks, credit unions and building societies are actually owned by bigger banks - particularly the Big Four.
  • If you're with a smaller bank, it may be nice to know they've got the financial backing of a big bank.
  • The owner of your bank is unlikely to impact your daily banking, but it's good to be aware of.

At a glance: Who owns my bank?

BankBank brands
WestpacSt.George, BankSA, Bank of Melbourne
NABUbank
ANZSuncorp Bank
CommBankBankwest, Aussie (part owner), Lendi Group (part owner)
Bendigo and Adelaide BankBendigo Bank, Adelaide Bank, Up, Rural Bank, Alliance Bank, Delphi Bank
Bank of QueenslandME Bank, Virgin Money

In depth: Who owns my bank?

The value of trust
Australians like to know who they're banking with. A 2023 Finder survey found that having a bank they 'know and trust' was the second most important feature when choosing a savings account, second only to the interest rate offered.
Source: Finder Consumer Sentiment Tracker 2023

Does it matter if my bank is owned by another bank?

Who owns your bank won't have too much of an impact on your day-to-day transactions. However, it could impact you if you've got a large amount of cash sitting in the bank.

The Australian government's Financial Claims Scheme (FCS), which guarantees the security of your money up to $250,000 per account holder per authorised deposit-taking institution (ADI), applies per banking licence rather than per brand. Brands that operate under their parent bank's licence share one $250,000 cap, while a bank that is owned by another bank but keeps its own licence gets its own cap. Without knowing which banks own what, your savings might not be as secure as you might think.

For example, let's say you had $250,000 in a savings account with Ubank and another $250,000 in a savings account with NAB. Because ubank is owned by NAB, these two banks share the one banking licence. This means that the Australian government will only guarantee your deposit up to $250,000 with both Ubank and NAB, not the full $500,000 you have deposited.

However, because Ubank and Westpac are operating under different licences, if you had your $500,000 split between these two banks instead the full amount would be covered under the scheme. The same applies to Suncorp Bank and ANZ: ANZ owns Suncorp Bank, but Suncorp Bank still holds its own banking licence (as Norfina Limited), so deposits with each bank are covered separately.

The financial claims scheme is there to protect your cash if the bank fails. But it's important to remember that banks are incredibly regulated, and it's very unlikely that a bank would suddenly go under.

Benefits of your bank being owned by another bank

There are some benefits to your bank being owned by a larger bank too. You usually get access to the larger banks ATM network all over the world, which is convenient and can also save you money in fees.

For example, St.George, BankSA and Bank of Melbourne are all owned by Westpac. If you're a customer of one of these smaller banks, you'll also get fee-free access to Westpac's ATM network. (RAMS, once a Westpac brand, is no longer part of Westpac: RAMS home loans are now provided by Pepper Money.)

You might also be able to access the bank branches for the parent bank, if there are no local bank branches in your area.

Frequently Asked Questions

Alison Banney's headshot
Written by

Editorial Manager, Money
Add to Preferred Sources

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise
Alison has written 592 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living
More resources on Finder

Get rewarded $$ for switching with Finder Rewards

Find a better deal, save on your bills and get a free gift card. Sign up to be the first to hear about new Finder Rewards.

Ask a question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

60 Responses

    eileen's avatar
    eileenJuly 15, 2015

    is the Bendigo & Adelaide Bank government guarnateed

      Belinda Punshon's avatar
      BelindaJuly 16, 2015

      Hi Eileen,

      Thanks for your enquiry.

      I can confirm that the Bendigo and Adelaide Bank is covered by the Australian government guarantee for up to $250 000 per person, per institution.

      Thanks,
      Belinda

    Dee's avatar
    DeeApril 9, 2015

    A westpac bank customer is transferring money into my st.george acct today. When will i be able to access that money

      Elizabeth's headshotFinder
      ElizabethApril 9, 2015Finder

      Hi Dee,

      Thanks for your question.

      If the payment was made before 6pm (Sydney time) on a business day, your account will be credited the next business day. If it was paid after 6pm (Sydney time) on a business day, it will be credited the day after the next business day. If it was paid on a weekend or a NSW public holiday, it will be credited the day after the next business day.

      I hope this has helped.

      Thanks,

      Elizabeth

    Ron's avatar
    RonMarch 14, 2015

    A tricky one. What was the share price close on the day of listing St George shares on 2/7/1992?

      Shirley Liu's headshotFinder
      ShirleyMarch 16, 2015Finder

      Hi Ron,

      Thanks for your question.

      This data may be available on delisted.com.au, though you need to a subscription fee for this service.

      You may want to get in touch with them directly to enquire if they’re willing to give you this data for free as it is a one-off.

      All the best,
      Shirley

    Lorraine's avatar
    LorraineFebruary 19, 2015

    who owns ME Bank
    wanting to know where to put some money and wanting to secure who are the backing behind me bank and if it is safe

      Shirley Liu's headshotFinder
      ShirleyFebruary 19, 2015Finder

      Hi Lorraine,

      Thanks for your question.

      ME Bank is owned by 30 industry super funds including HESTA, HOSTPLUS, AustralianSuper and Cbus.

      Deposits held at ME Bank are covered by the Government Guarantee. This insures $250,000 per person, per institution.

      Cheers,
      Shirley

    Michael's avatar
    MichaelFebruary 5, 2015

    Hi Shirley,

    Are there any Banks, Credit Unions or Financial Institutions in Australia that have not been invested in by the other (American) Banks? Just changed Banks from Bank SA to Bendigo, because I thought that was an Australian (Community Bank), owned and run, only to discover they’ve been bought out too. Ultimately, I don’t want anything to do with American or British Banks or is it a financial impossibility with all small fish consumed by the bigger fish?

    Thanks in advance and have a good day!

      Shirley Liu's headshotFinder
      ShirleyFebruary 5, 2015Finder

      Hi Michael,

      Thanks for your question.

      In most cases, it is the bigger fish consuming the smaller fishes, however, you may have a better chance of finding a credit union that has not been invested by banks from other countries.

      These include unions such as Community First, CUA, Easy Street, Greater Building Society, and IMB. You can find even smaller ones from our A to Z list of home loans.

      I hope this helps (and hope you have a great day too),
      Shirley

More guides on Finder

Go to site