Press Release

For immediate release

Information verified correct on December 6th, 2016

finder.com.au welcomes ACCC comparator site outline announcement

  • finder.com.au Co-founder welcomes new comparison outlines by ACCC
  • Outlines bring with them a signal for better quality of service within comparison industry
  • Look for a comparison site with your best interests at heart

August 4, 2015, SYDNEY, AUSTRALIA – Fred Schebesta, co-founder and director of finder.com.au, one of Australia's biggest comparison websites1, has today welcomed news that the Australian Competition and Consumer Commission (ACCC) has released consumer and industry guidance on the operation and use of comparator websites.

"We've seen examples of where a comparison's business model has blatantly come back to hurt consumers by not giving them all possible information. We welcome this guideline for comparison sites (and those businesses listed on them) as it may finally demand the level of quality only a select few have been providing up until now.

"One of the ACCC's new guiding principles relates to transparency of commercial relationships. Unlike many competitors in the space, finder.com.au, launched in 2006, remains independent and without ties to any other company. In addition, finder.com.au does not have ownership of any providers or products that are compared on the finder.com.au website.

"This is a deliberate stance by finder.com.au to be genuinely informative and facilitate meaningful comparisons between like products.

"It's important for consumers to know that there are several comparison sites out there that you may see on TV or hear on the radio that are not truly independent. To me, transparency is vital in an industry that aims to give consumers all the information for them to make the best possible choice for their personal situation. A consumer's product choices should not be influenced by commercial ties.

"In the same way that you probably wouldn't go with the first offer you come across, I urge consumers to look beyond fancy ad campaigns and choose a comparison website that has their best interests at heart.

"Also, consumers need to be wary of the search results page of comparison websites. Companies have been fined in the past because they've been found to be manipulating their results to heavily promote provider products. Tip: look for news and information pages to appear in your search.

"Comparison websites should be thrilled with the introduction of these latest guidelines; it finally signals the level of integrity and increased competition leading to better standards for industry and consumers, alike."

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Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About finder.com.au:

finder.com.au is one of Australia’s biggest comparison websites and has helped over 4.8 million Australians find better credit cards, home loans, life insurance, shopping deals and more since 2006. finder.com.au compares 250 credit and debit cards from 31 providers, over 300 home loan products, and information from 13 life insurance providers as well as online shopping promo codes, mobile phone plans, travel insurance and more. One Australian every five minutes is using finder.com.au or creditcardfinder.com.au to find better (Source: Google Analytics).

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