Finder makes money from featured partners, but editorial opinions are our own.

Best bank in Australia: Big Four vs smaller banks

The Big Four banks are Australia's largest banks. But are they the best banks? Here's how they stack up.

Commonwealth Bank, Westpac, NAB and ANZ are known as Australia's "Big Four" banks. Together these institutions dominate the market. Most Australians have a bank account, credit card or home loan with one or more of the Big Four.

What is the best bank in Australia?

Biggest doesn't necessarily mean best, and there's no simple way to determine which is the best bank in Australia.

However, you can use Finder's monthly top picks and our annual Finder Awards to find some of the best bank accounts and loans on the market.

Best bank accounts

1 - Best no-fee bank account

Ubank Spend Account

$0
Monthly fee
$0
ATM withdrawal fees
Visa
Debit Card
The Ubank Spend account is one of the best bank accounts for no fees. Pay no account keeping fees, no local ATM fees at all major bank ATMs, no overseas ATM fees and no foreign transaction fees plus see your other bank accounts, super and investments all within your ubank app for free.

  • No account keeping fees
  • No overseas ATM fees or foreign transaction fees
  • Spending tracking tools
  • Access thousands of ATMs in Australia for free
  • Apple Pay and Google Pay available
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

2 - Best bank account for travelling

HSBC Everyday Global Account

$0
Monthly fee
$0
ATM withdrawal fees
Visa
Debit Card
The HSBC Everyday Global Account is one of the best bank accounts for travelling as it has no account keeping fees, no international transaction fees and access to free ATMs around the world. You can hold up to 10 different currencies in the one account, which allows you to top up on a currency while the exchange rate is good, then spend in that local currency while you're overseas. Plus, earn 2% cashback on tap and pay purchases (T&Cs apply).
  • Earn 2% cashback on tap and pay purchases
  • Hold up to 10 currencies in the one account
  • No international transaction fees
  • No international ATM fees
  • Apple Pay and Google Pay available
  • You can only pre-load up to 10 currencies
  • Fees apply to deposit foreign currency notes into the account
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

Every month Finder analyses the bank accounts in our database to find the best bank accounts for different types of customer.

See our full best bank account picks and criteria.

Best savings accounts

Best savings account overall: ING Savings Maximiser

ING Savings Maximiser

5.5%
Max variable rate p.a.
0.55%
Base interest rate p.a.
$1,000
Minimum deposit
The ING Savings Maximiser is the best overall savings account. With this account you can earn an ongoing, variable rate of 5.5% p.a. if you deposit $1000 into a personal ING account (excluding Orange One and Living Super), make 5 eligible transactions and grow your nominated Savings Maximiser balance (excluding interest) each month. The total bonus interest rate is available on balances up to $100,000 on one Savings Maximiser account.
  • Won Best Savings Account in 2023 Finder Awards
  • Competitive ongoing bonus rate of 5.5% p.a. is one of the highest in market
  • $0 Account keeping fees
  • Fee-free ATMs in Australia and no international transaction fees with the linked transaction account (conditions apply)
  • Several monthly conditions to meet to earn the bonus rate
  • Bonus interest rate only applies up to balances of $100,000
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

Best high interest savings account rate: ME HomeME Savings Account

ME HomeME Savings Account

5.55%
Max variable rate p.a.
0.55%
Base interest rate p.a.
$2,000
Minimum deposit
The ME HomeME Savings Account is the best high interest savings account. This account has an ongoing, variable bonus rate of 5.55% p.a. on balances up to $100,000 when you deposit $2,000 into the linked SpendME transaction account and grow your balance each month.
  • Ongoing bonus rate is one of the best in market
  • Tiered bonus rates means you still earn interest on larger balances
  • Savings tools offered in the app
  • High monthly deposit of $2000 required for bonus interest
  • Low variable base rate if bonus interest criteria isn’t met
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

Every month Finder analyses the savings accounts in our database to find the best savings accounts for different types of savers.

See our full best savings account picks and criteria.

Alison Banney
Expert best bank account picks selected by Alison Banney – money editorial manager

Do the Big Four banks have the best savings rates?

This table shows savings accounts rates from the Big Four and many smaller banks. You can sort these accounts from lowest to highest interest rate.

1 - 17 of 17
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
  • 5 debit card purchases
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Great Southern Bank Home Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.50%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2,000
  • 5 Edge Account debit card purchases
View details
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
0.10%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $200
Go to siteView details
Use code: FINDER20 and score $20 when you make 5 purchases in your first 30 days. Offer ends December 12, 2023. Ts&Cs apply
St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
View details
ANZ Online Saver
Maximum Variable Rate p.a.
3.65%
Standard Variable Rate p.a.
1.50%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
NAB iSaver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Westpac Life
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
View details
NAB Reward Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.35%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • 1 deposit
  • No withdrawals
View details
HSBC Everyday Savings
Maximum Variable Rate p.a.
5.15%
Standard Variable Rate p.a.
3.30%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • No withdrawals
View details
ANZ Progress Saver
Maximum Variable Rate p.a.
4.25%
Standard Variable Rate p.a.
0.01%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $10
  • No withdrawals
View details
Westpac eSaver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.10%
Intro Period
5 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Commonwealth Bank NetBank Saver
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
2.35%
Intro Period
5 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
loading
Showing 17 of 17 results
1 - 10 of 10
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Suncorp Everyday Options Account
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
MyState Bank Glide Account
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
St.George Complete Freedom Account
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
HSBC Everyday Global Account
Finder AwardApple Pay Google Pay10 Currencies
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Earn 2% cashback on tap and pay purchases.


Westpac Choice
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay Digital Card
Monthly fee
$5
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
Great Southern Bank Everyday Edge Account
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Bendigo Bank Everyday Account
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
NAB Classic Banking
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
ANZ Access Advantage
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$5
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Commonwealth Bank Smart Access
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$4
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
loading
Showing 10 of 10 results
1 - 12 of 12
Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Judo Bank Term Deposit
4.90%
5.05%
5.35%
5.35%
Bankwest Online Term Deposit
3.75%
3.00%
3.00%
4.25%
4.00%
4.90%
4.85%
BCU Term Deposit
4.35%
3.70%
3.40%
4.60%
4.55%
4.75%
4.40%
Newcastle Permanent Term Deposit
4.00%
3.00%
3.00%
4.10%
3.60%
5.10%
4.75%
Newcastle Permanent Term Deposit 2 year
4.00%
3.00%
3.00%
4.10%
3.60%
5.10%
4.75%
Macquarie Bank Term Deposit
4.85%
4.85%
4.95%
5.05%
5.00%
Rabobank Term Deposit
4.80%
4.90%
5.10%
5.00%
Commonwealth Bank Term Deposit
3.45%
3.50%
3.60%
3.70%
3.80%
4.25%
4.00%
Westpac Term Deposit
3.50%
3.55%
3.65%
3.75%
3.80%
4.25%
4.00%
ANZ Term Deposit
0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
NAB Term Deposit
3.50%
3.60%
3.70%
4.00%
4.00%
5.00%
4.00%
Challenger Term Deposit
4.50%
4.70%
4.85%
4.70%
loading
1 - 20 of 24
Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest20% min. depositOwner-occupierRefinance
Interest Rate
5.74%
Comparison Rate
5.65%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest20% min. depositInvestmentRefinance
Interest Rate
6.04%
Comparison Rate
5.95%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest5% min. depositOwner-occupierOffset accountSpecial Offer
Interest Rate
6.19%
Comparison Rate
6.22%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Finder AwardPrincipal & Interest10% min. depositOwner-occupier
Interest Rate
5.94%
Comparison Rate
5.95%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info

Speak to a broker about your options

Consultant
Finder AwardPrincipal & Interest40% min. depositOwner-occupierOffset account
Interest Rate
6.24%
Comparison Rate
6.49%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest20% min. depositOwner-occupierOffset account
Interest Rate
6.04%
Comparison Rate
6.08%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
$2,000 refinance cashback offer
Eligible refinancers who apply online and borrow $250K+ (LVR 80% or lower) can get a $2,000 cashback. Terms and conditions apply.
Principal & Interest30% min. depositOwner-occupierOffset account
Interest Rate
6.24%
Comparison Rate
6.49%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
Go to siteMore Info
Finder AwardPrincipal & Interest20% min. depositOwner-occupierOffset account
Interest Rate
6.30%
Comparison Rate
6.55%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest20% min. depositInvestmentOffset account
Interest Rate
6.24%
Comparison Rate
6.28%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
$2,000 refinance cashback offer
Eligible refinancers who apply online and borrow $250K+ (LVR 80% or lower) can get a $2,000 cashback. Terms and conditions apply.
Principal & Interest40% min. depositOwner-occupier
Interest Rate
6.24%
Comparison Rate
6.26%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Interest only20% min. depositOwner-occupierOffset account
Interest Rate
7.18%
Comparison Rate
7.25%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
Enquire now
Principal & Interest5% min. depositOwner-occupier
Interest Rate
6.74%
Comparison Rate
7.06%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Enquire now
Principal & Interest20% min. depositOwner-occupier
Interest Rate
6.54%
Comparison Rate
6.54%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
Enquire now
$2,000 cashback
Refinancers borrowing $250K+ can get a cashback of $2,000 with an LVR of 80% or less (terms & conditions apply).
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
Interest Rate
6.59%
Comparison Rate
8%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
Enquire now
Principal & Interest30% min. depositOwner-occupierSpecial Offer
Interest Rate
6.34%
Comparison Rate
6.66%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
Enquire now
Principal & Interest 1Y Fixed5% min. depositOwner-occupier
Interest Rate
6.59%
Comparison Rate
8.34%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
Enquire now
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
Interest Rate
6.74%
Comparison Rate
7.37%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
Enquire now
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Interest Rate
6.84%
Comparison Rate
8.19%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
Enquire now
Principal & Interest 1Y Fixed20% min. depositOwner-occupier
Interest Rate
6.64%
Comparison Rate
7.73%
Fees
Application: $0
Ongoing: $8 p.a.
Monthly Payment
Enquire now
Principal & Interest 1Y Fixed5% min. depositOwner-occupier
Interest Rate
6.59%
Comparison Rate
8.29%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
Enquire now
loading
Showing 20 of 24 results

Just how big are the Big Four banks?

To get a sense of just how big the Big Four banks are, here's the dollar value of household deposits currently held by each bank.

  • CBA: $376.933 billion
  • Westpac: $289.517 billion
  • NAB: $193.877 billion
  • ANZ: $165.051 billion

Now compare that to the amount of household savings deposited at Australia's largest non-Big Four banks.

  • Macquarie Bank: $56.369 billion
  • ING: $47.987 billion
  • Bendigo & Adelaide Bank: $42.816 billion
  • Suncorp: $33.935 billion
  • Bank of Queensland: $33.863 billion

The Big Four hold $800 billion more than their 5 closest competitors combined.

How do the Big Four banks compare to the rest of the market?

Savings rates

Here is the highest savings rate you can get from each of the Big Four banks.

Savings accountsTotal interest rate p.a.
Commonwealth Bank GoalSaver Account4.9%
Commonwealth Bank NetBank Saver5.1%
ANZ Progress Saver4.25%
ANZ Save Account4.9%
ANZ Online Saver3.65%
NAB Reward Saver5%
NAB iSaver5%
Westpac Life5%
Westpac Bump Savings Account5%
Westpac eSaver5%

Here are the 5 highest savings account rates from smaller banks.

Savings accountsTotal interest rate p.a.
ME HomeME Savings Account5.55%
Rabobank High Interest Savings Account5.75%
ING Savings Maximiser5.5%
MOVE Bank Growth Saver5.7%
Bank of Queensland Future Saver Account - 14 to 35 years5.4%

If you choose the account with the highest rate over the best Big Four account, you could get 90 more basis points on your account interest rate.

Consumer trust

Every month Finder surveys hundreds of Australians about their finances in our Consumer Sentiment Tracker.

While 23% of Australians say they trust big and small banks, a higher proportion say they don't trust the big banks (23%), compared to 9% who don't trust smaller banks.

Convenience and service

While it's hard to measure a bank's convenience, it's undeniable that the Big Four banks have the most extensive network of ATMs and physical bank branches. Westpac for example has 997 bank branches across the country.

Major bank call centres can operate for longer hours (typically 8am–8pm) and you may have access to customer service 24/7 for financial emergencies or if you're overseas.

Smaller Australian banks and credit unions cannot offer a similar level of service. Smaller banks are often entirely online (like ING) or have branches in specific regions only. But these banks also have call centres and generally deal with a lower volume of calls.

If you value in-person banking support then you may prefer banking with one of the Big Four. But this depends on where you live. As even the biggest banks shut down branches in smaller towns, you may find your only in-person option is a local credit union.

Is it safer to bank with one of the Big Four?

The size of a bank doesn't necessarily make it safer. But Australia's Big Four are highly profitable and well capitalised. These banks are regulated by the Australian Prudential Regulation Authority (APRA), which requires all banks to maintain a buffer of capital to meet sudden unexpected withdrawals from customers. The biggest banks are subject to stronger requirements than other banks.

But for the ordinary consumer all Australian banks are relatively safe. If you bank with any authorised deposit-taking institution (ADI), which includes big banks, small banks and credit unions, money in your savings accounts is protected by the Financial Claims Scheme.

This scheme protects up to $250,000 of your savings, per ADI, per account holder, if the institution collapses.

Which banks and lenders are owned by the Big Four?

The Big Four aren't just competing with other banks. They own or invest in many other familiar financial institutions:

  • Commonwealth Bank owns Unloan, an online lender, and Bankwest. The bank is also a major investor in Aussie Home Loans.
  • Westpac owns St.George, Bank of Melbourne, BankSA and RAMS.
  • NAB owns digital bank ubank, which itself merged with smaller digital lender 86 400.
  • ANZ is unusual among the Big Four as it doesn't own many other financial brands in the banking and lending space.

How to find the best bank for your needs

You'll have to decide for yourself what the best bank is for your specific needs. Here are some factors to consider when making a decision:

  • Compare rates, fees and features. When you're looking to get a new bank account, loan or credit card, you should always compare rates and fees to make sure the product is competitive (high rate for a saving account, low rate for a loan). Make sure the product has features that suit your needs.
  • What level of service are you looking for? If you want a personal touch and branch support, a Big Four bank with a local branch might be your best option. If you want really fast online support or don't have a Big Four bank branch near you, then you might look at other banks.
  • Customer reviews. Reading online reviews can help you get a sense for a bank's level of customer service. This is particularly true for smaller and newer banks.
  • Convenience. The Big Four banks have useful smartphone apps that let you manage your bank, card and loan accounts easily. Many other banks have good apps too, but some simply don't. You might also decide that the convenience of having all your accounts in one place outweighs the benefits that come with a higher savings rate or lower fees.
  • Awards. You can check the winning banks at Finder's 2023 Banking Awards.

FAQs

Why you can trust Finder's banking experts

free

We're free

Our comparison tables are completely free to use. We link you directly to the bank's secure application page. On a daily basis we update the rates, fees and conditions of the 200+ accounts on our database.
expert advice

We're experts

We've researched and rated hundreds of accounts for our Finder Awards. We've published 100+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by a bank or lender. That means our opinions are our own and you can compare nearly every bank account in Australia on Finder.
help

We're here to help

Since 2015, we’ve helped over 1.3 million Australians find an account. We'll never ask for your personal information. We're here to help you make a decision.

More guides on Finder

Ask an Expert

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 Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

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

34 Responses

    Default Gravatar
    DaveJuly 29, 2022

    We live in a real world, how about some list of how the banks answer the telephone, whether their call centres are in Australia or overseas? I am currently with Westpac who have carried out a very underhand move and not publicised it, how do I choose a new bank that cares about its customers?

    Default Gravatar
    DavidAugust 3, 2019

    Our CBA business bank account has been cmpromised by online fraud more than once and I am not satisfied with the bank. Which bank is the most secure in this area please?

      AvatarFinder
      JeniAugust 4, 2019Finder

      Hi David,

      Thank you for getting in touch with Finder.

      Sorry to hear about your experience with CBA. Each bank has its own unique way of securing its customers’ accounts. While the chances of a major Australian bank going bust are a lot rarer than they may have been in the past, the Australian Government Guarantee Scheme even guarantees deposits of up to $250,000 in authorised deposit-taking institutions.

      In a world where online-only banks and lenders are on the rise, it’s just as important as ever to make sure you deal with a bank you can trust. I suggest that you contact your chosen bank about their security feature to help you decide on changing banks then.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    TecmanarthurMarch 3, 2019

    I am now resident in the UK but have inherited funds in Australia – presently sitting in an account at 0.5%. I have relatives in Australia but no permanent residential address. Are there any accounts that will give a better return for a non-resident? Term deposits are not allowed by my present bank.

      AvatarFinder
      JohnMarch 4, 2019Finder

      Hi Tecmanarthur,

      Thank you for reaching out to Finder.

      You may compare savings accounts for ex-pats or temporary residents. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    RsibsOctober 25, 2018

    Hi, we want to invest $150,000 in a term deposit to give us the best interest rate, prefer 6 monthly, don’t mind if it is an advance notice etc.

      AvatarFinder
      JohnOctober 25, 2018Finder

      Hi Rsibs,

      Thank you for leaving a question.

      You may refer to our list of 6-month term deposit account. You may also compare the different interest rates that each bank provides via this page. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    LynSeptember 3, 2018

    I’m referring to the NAB’s savings interest rate, this appears to be an introductory rate for 4 months. Can’t find what it reverts to after.

      AvatarFinder
      JhezelynSeptember 3, 2018Finder

      Hello Lyn,

      Thank you for your comment.

      You may be referring to the NAB iSaver wherein the maximum variable rate is 2.55% p.a. (combined standard variable rate of 0.50% p.a. and bonus variable rate of 2.05% p.a.) for the first 4 months on balances up to $20,000,000. This will revert to 0.50% p.a. after the introductory period.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

Go to site