Best Banks

Based on 25,136 reviews
Location
Brand
Rating

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Judo Bank

Judo Bank Award Winning Term Deposits 🏆 2026

4.8 

Great service and term deposit rates with an added loyality bonus including Government guaranteed .

Bank Australia

Bank Australia 🏆 2026

4.7 Summary
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Neil WilsonVIC
 

I was fortunate enough to be assisted by a lovely lady in the Traralgon branch a couple of days ago by the name of Hayley. Hayley went above and… Read more

beyond to assist me. Her product knowledge was excellent, her friendly helpful manor and smiling face brightened my day. I always have a great experience with all staff at this bank, I have been a member here since this bank was known as the S.E.C credit union. Well done to all at Bank Australia, with a very special thank you to Hayley. Looking forward to seeing your smiling face again.

Judo Bank

Judo Bank 🏆 2026

4.8 Summary
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DagsWA2 posts
  Verified

Easy procesd. Follow up emails and great rates. Highly recommend Judo.

Queensland Country Bank

Queensland Country Bank 🏆 2026

4.9 Summary
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Dave
 

Staff are friendly and very helpful, they helped me work you my new account. Show details

Qudos Bank

Qudos Bank 🏆 2026

4.8 Summary
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VLANSW18 posts
 

Tried many many attempts to get to talk to someone regardling new account tried calling morning, hours tried afternoon hour waited waited gave up… Read more

after 10mins on call waiting with bird chirping music, guessing to sooth the patience for customer.

i would suggest improving agent assist help line.

VLA
VLA   

specifically Credit Card team. i managed to get through after many attempts across many days, the… Read more (+1 reply)

Auswide Bank

Auswide Bank

4.6 Summary
Amy J.
 

A massive shout out to Kris, Emily, Ben, Karina, Trudi, Bobbie at Auswide Hinkler Central! Thank you for the excellent customer service you always proved the Bundaberg public ✨

Australian Mutual Bank

Australian Mutual Bank

4.8 Summary
Christian B
 

I honestly cannot thank Chetna Vikash enough for all her help throughout my loan process. From the very first phone call right through to final… Read more

approval, she guided me through every step and made the whole experience feel easy and stress-free.

She kept me updated the entire way, always followed up promptly, and was genuinely proactive in making sure everything kept moving. No question ever felt like a hassle and I always felt like she actually cared about getting the best outcome for me to which she did in the tight timeframe I had.

The Mutual Bank

The Mutual Bank

4.7 Summary
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Trent WNSW2 posts
  Verified

Excellent customer service from start Big thank you to Jo Hardie helping us remortgage our home and consolidate our debts with very reasonable rates. Jo made the whole process easy and felt like family. Well done Show details

Bank of Sydney

Bank of Sydney

3.8 Summary
MansfieldJohnoVIC37 posts
 

Sent then an email requesting info of my term deposit account on 6 th April. Got an email back from them in 2 hours saying they will look into it.… Read more

Today is 13 April nothing heard back from them. I keep rining the phone number for customer service it asks you to leave a message. But know one calls back

Bank First

Bank First

3.4 Summary
hawkiNSW26 posts
 

Waste of time. These morons gave a st^pid password that wouldnt be accepted. It had some strange symbols that aliens dont even use. Dont waste your time with these amateur ret#rds. Theyll misplace your $ as well.

Great Southern Bank

Great Southern Bank

2.5 Summary
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northeastNew South Wales47 posts
 

The worst bank in Australia. No Customer Service. They fraudulently report to credit reporting bodies in an effort to damage Customer reputations. They don't have any processes to support Customers and all their banking services are substandard.

Great Southern Bank
Great Southern Bank    

Hi, sorry to hear of your experience with us.… Read more

Beyond Bank

Beyond Bank

2.6 Summary
MandyQLD
 

On hold for 30 mins then on line talking to them for 40 mins giving them all my details & they tell me they can’t verify my voice!! Can’t access money if you live interstate & they won’t email you anything! Show details

Police Bank

Police Bank

2.8 Summary
Taegan C.NSW2 posts
 

Peter McLean was absolutely awesome. He went above and beyond helping me out. He gave me excellent advice. Peter is a true asset to the Police bank. Show details

Up

Up

2.3 Summary
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Dreadlocks S.
 

2 months in a row interest doesn't come in time. Not just me referred friends & same thing. Sent my money elsewhere & then found out they didn't send… Read more

it, just kept my money & wouldn't pay any interest. Customer service quote some dodgy terms if they reject your transfer they aren't liable. Total shambles of a bank owned by the commonwealth which makes a fortune scamming ordinary people.

MOVE Bank

MOVE Bank

3.0 Summary
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Steven QuinnNSW2 posts
 

have upgraded their interface and has been a smooth transition over to MOVE Bank from Westpac. Show details

Commonwealth Bank

Commonwealth Bank

1.6 Summary
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Doug k3 posts
 

I went to CBA Caloundra today for advise on opening an account with specific criteria. Well got the best customer service I’ve had from any company in many years, absolutely fabulous experience ,the lady that helped me was Rachel

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RosebudNSW3 posts
  Verified

they do everything they can to stand between me and my money. Ridiculous security model, service is a foreign concept and treat a customer like a… Read more

door mat. Been with them for over 25y, my wife insisted we stay with them. I am amazed we are still married, it has created so much stress. You cannot do worse than this bank.

Rabobank

Rabobank

2.2 Summary
OpaQLD2 posts
 

Stole $250000 and closed my accounts. Takes about a week to move money in or out. Stupid verification processes where you have to send money from the account you want to send TO and wait days. Zero stars. Taking them to court.

ING

ING

1.6 Summary
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Fox
 

Keep your money OUT of this disgraceful bank! They will close your account down for two weeks for absolutely NO reason and use your funds offline… Read more

for their own benefits. When you finally take your long saved money out, they tell you it was transferred and it actually was not! Banking in Australia is woeful.

Greater Bank

Greater Bank

2.1 Summary
marilynNSW
 

We have been with the Greater for many years .Today we went to Belmont branch the experience was made very easy by having Brittany attend to our accounts in a patient and professional manner. Show details

Bendigo Bank

Bendigo Bank

1.7 Summary
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bradVIC7 posts
 

Never answers the phone constantly on hold So Poor customer service hopeless and Inadequate

Heritage Bank

Heritage Bank

1.7 Summary
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Hervey Bay6 posts
 

So Much for PEOPLE FIRST! Which people? Certainly NOT their Staff OR Customers! Heritage used to be very good. I and all my family have banked with… Read more

them for about 50 years! But NOT ANY MORE! They have closed our local Branch, so We have CLOSED OUR ACCOUNTS! Or at least we are trying to! Over a week later and they still have not transferred our money to the new bank. WHAT A JOKE! PEOPLE FIRST.

Heritage Bank
Heritage Bank    

We are always looking to improve the experience our… Read more (+1 reply)

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Fairy2 posts
 

If I could do a negative star rating I would. This bank do not care about their customers and they do not help when you get stuck at all. I’ve been… Read more

with them almost 10 years and I am going in to close all my accounts, as is my family. This bank is the most careless, useless and uncaring bank I have ever been with. Do not recommend using them!!!!

BankWest

BankWest

1.5 Summary
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Geoff D.WA
 

After many years as a loyal customer, I have reached the disappointing conclusion that Bankwest has become one of the most unsophisticated and… Read more

uninspiring banking institutions operating in Australia today.

What is most striking is not simply the charging of petty fees — though that alone speaks volumes — but the complete absence of refinement, loyalty, and customer respect in the way the bank now conducts itself. There was once a time when banking institutions understood that trust and long-term relationships were assets to be valued. Bankwest, unfortunately, appears to have traded those principles for short-term revenue and administrative indifference.

ubank

ubank

1.5 Summary
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Nabin J.NSW3 posts
 

I thin u bank are just fine for me. I could use them and got a intrest as well. They even paid out the bonus 20$ on eligible purchases. The thing is they dont have a physical atm eventhough Nab bank owns them they should also advertise for Ubank

St. George

St. George

1.4 Summary
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RitzNSW
 

Want to say that the St George bank at st marys nsw has terrible customer service Show details

Macquarie Bank

Macquarie Bank

1.4 Summary
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DanielNSW3 posts
 

I strongly advise people to stay away from Macquarie Bank. I opened a savings account with them and completed all the required verification and… Read more

identity updates from my end. Payments were even approved to come through, yet shortly after opening the account, they temporarily blocked it and instructed me to call them.

After sitting on hold and waiting for assistance, I was then informed within less than 24 hours of opening the account that they had decided to cease the banking relationship. No proper explanation was given at all. They were happy to open the account, allow incoming funds to be processed, and then suddenly shut everything down without any real care for the consequences caused.

What makes this even worse is that I had money already being transferred into the account. I was told the funds would now be returned to the sender, creating unnecessary delays, stress, and financial complications for both myself and the person who sent the payment. These transfers cannot simply be redirected instantly, so this situation has caused major inconvenience and additional costs.

The entire experience has been an absolute nightmare. Instead of reviewing the account properly beforehand, they opened it and then created chaos afterward. Their customer service was disappointing as well while the representative may not have been outright rude, the way the situation was handled and communicated showed little empathy or understanding for the impact this causes people financially and emotionally.

In a time where many people are already struggling financially, the lack of care and accountability shown was shocking. There was no attempt to genuinely help, offer alternatives, or resolve the situation in a reasonable manner.

If I could give 0 stars, I absolutely would. This has been one of the worst banking experiences I’ve ever had, and I would highly recommend others avoid banking with Macquarie Bank especially if you are expecting important funds to come into your account. In the long run, you may seriously regret it.

ANZ

ANZ

1.3 Summary
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Andrew M.
 

Opened a credit card online - no problem. Then the horrors started. Called to verify - person on the phone cut the call / the line disconnected.… Read more

Next person told me they couldnt do this process over the phone because they couldnt verify me - but gave me a bunch of my own personal details anyway?

The nightmare to get this stupid card working, to get the app working. Then the scam of elligibility on points... no thank you.

Useless card. Useless staff.

Bank of Queensland

Bank of Queensland

1.4 Summary
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Dissatisfied customer4 posts
 

Stay away from this bank. Do not go near it. Two weeks ago I discovered that my BOQ debit card had expired. Unlike my other bank accounts with other… Read more

banks, a replacement card had not been automatically generated and sent out. I rang the bank and after waiting 1 hour to speak to someone, I got the usual apologies and told that one would be sent out within 5 to 10 working days.

Two weeks later, nothing. I rang the bank, this time I got through reasonably quickly. After identifying myself whilst waiting to speak to someone, I was immediately asked to repeat all the same details. I explained what had happened 2 weeks ago and that I was still waiting for my new card. I was put on hold, half an hour later I gave up and hung up.

To my surprise, a short while later I received a call back from the bank. I was told that the original card had not been sent and that I will need to wait another 5 to 10 working days for the next card.

My suggestion for anyone considering dealing with the Bank of Queensland is don’t. Look elsewhere, there must be better alternatives.

Rob T.
 

Your bank blocked a credit transaction for holiday accommodation yesterday. My first holiday in 15 years and now I can't book accommodation in a… Read more

market where it is being heaviy booked and I may well lose it. Since yesterday I have been kept on hold for over two hours only to be told that your fraud team is too busy to answer any calls and now I have to wait a further undisclosed amount of time for a call back while my accommodation is slowly slipping away. I find this level of service abysmal and quite reprehensible. You should be ashamed of yourselves.

Westpac

Westpac

1.3 Summary
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R C.13 posts
 

The service or NON service from this bank is the highest anyway. There is no possible way to speak to a human even just to ask a simple question all… Read more

you ever get redirected to is the st^pid online Bot that doesn't understand most questions anyway. This is a terrible Bank and can I suggest that if you are a new customer look elsewhere, somewhere that offers service!!

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Judo Bank

Judo Bank Award Winning Term Deposits 🏆 2026

4.8 

Great service and term deposit rates with an added loyality bonus including Government guaranteed .

Glass jar full of coins

Types of Banks

Online-only banks

Also called digital-only banks or neobanks (meaning 'new banks'), online-only banks are rightly a newer addition to the banking market.

It's important to note that online-only banks are designed to be 100% online - they have no physical branches you can visit. This also differentiates them from online banking options offered by traditional banks, such as Netbank and Westpac online banking.

Pros
Can be more financially rewarding with more competitive rates and fees, due to costs cut from being branchless
Convenient online operation means 24/7 access to banking services after downloading a banking app
Faster service and exclusively digital services are offered that may be unavailable with online banking apps of traditional banks
Cons
Services are limited especially when it servicing credit card and home loan customers. However, some neobanks partner with chartered banks and credit unions to give loans to individuals and businesses.
Designed primary for smartphones via a banking app - this may be unappealing if don't like relying on technology for life admin
No physical branches means that if you prefer face-to-face banking customer service, you may be disappointed
ATM fees will often be charged when you use a neobank debit card, as many online-only banks don’t have their own dedicated ATMs
Potential start-up status means online-only banks can lack the years of experience and credibility of reputation that builds up over time, which some banking customers may value.

Services

  • Transaction accounts and savings accounts
  • Digital payment and money transfer
  • Home loans or other small loans are sometimes offered

Services often unique to online-only banks

  • Instant loan approval
  • Digital wallets such as Samsung Pay, Apple and Google Pay
  • Virtual cards
  • Online sign up vs in-branch sign-up
  • Spending trackers and budget setting

How safe are online only banks?

Online only banks are as safe as traditional banks and customer-owned banks. This is because to trade as a bank, they're required to be licensed by the Australian Prudential Regulation Authority as ADIs - Authorised Deposit-taking Institutions. This means deposits of up to $250, 000 are protected under the government's Financial Claims Scheme - and that your dealings with licensed online-only banks are safe.

Online-only banks tend to use similar security measures as the internet banking portals of bigger banks, such as multi-factor authentication and biometrics. Since most online banks are still pretty new, they are often designed with advanced digital security measures.

Privately Owned Banks

Pros
Wide range of banking services, including more personalised services like private banking, which includes wealth management.
Physical branches are often plentiful if you prefer face-to-face customer service, and if you don't mind dropping in to the bank on your lunch break.
The multitude of ATMs means accessing your money at a pinch with zero ATM fees is more likely to be a reality.
Cons
High fees and rates can be charged for a number of occurrences, such as penalty fees for an overdrawn account. Rigid rules mean these fees are rarely waived.
Profits don't go to customers as they're primarily distributed to the Board of Directors and shareholders first.
Unethical investments are more common practice, done in order to maximise profits. For example, all Big 4 Banks lend money to the fossil fuel industry.

Privately-owned banks are also known as traditional banks, chartered banks, retail or commercial banks. They’re probably also what first springs to mind when you think of a bank.

They include the ‘Big 4’ Banks - Commbank, NAB, Westpac and ANZ. These banking giants have the lion’s share of banking customers in Australia, and they also own smaller subsidiary companies. For example, Westpac owns both St. George Bank and RAMS, and Bankwest, including the Bankwest online banking portal, is owned by the Commonwealth Bank.

Services

Privately owned banks offer a diverse range of banking services, often thanks to a combination of physical bank branches and online banking options.

These services include: Bank accounts and savings accounts, home loans, credit cards, reward credit cards, term deposits, personal loans, car loans, online banking portals, debit cards and international money transfer.

Local Banks

There are also plenty of smaller privately owned banks, which often service a particular state, such as the Queensland Country Bank.

Local banks often have more of a community focus than big banks, and while their profits aren’t shared by members, sometimes their benefits are reported to be more similar to customer-owned banks rather than big banks.

Customer-owned banks

Pros
Profits are reinvested into the business in the form of reduced fees and rates, and improved products and services.
Fees and rates are often more competitive than private banks. It's worth it to shop around instead of automatically opting for the household names in Australian banking.
Customer satisfaction is higher for members of customer-owned banks compared to privately-owned banks, according to a 2020 Roy Morgan survey.
Community initiatives are more generous than profit-driven banks, and customer-owned banks are less likely to engage in unethical investing.
Cons
Limited eligibility may apply, as some credit unions may be especially established for members of a certain profession or geographic location. For example, only current or retired teachers and their family members can join Teachers Mutual Bank.

Customer-owned banks include mutual banks, credit unions and building societies.

While a mutual bank has taken the administrative steps required by APRA to be called a 'bank' instead of a credit union, these three bank sub-types are very similar in operation. Importantly, they’re all owned by their customers or members, rather than private investors or shareholders.

The ethos of customer-owned banks is that profits go into improving products and customer service, rather than solely making a bank’s private stockholders and Board of Directors richer.

Services

Customer-owned banks usually offer the same range of banking services provided by the bigger players, including lending products (home loans, personal loans, car loans and credit cards) and deposit products (savings accounts and term deposits).

Community focus

In addition to reinvesting profits back into benefitting members, often customer-owned banks adopt more of a community focus in a broader sense.

For example, Bank Australia - the top rated bank on ProductReview.com.au - has a 927 hectare Conservation Reserve in Victoria, created for the purpose of wildlife and land conservation.

A fair few customer-owned banks also actively avoid lending money to the fossil fuel industry unlike the Big 4 Banks.

Teachers Mutual Bank was even recognised in 2019 as one of the ‘World’s Most Ethical Companies’ by the Ethisphere Institute.

What else to look for in a bank

Competitive rates and fees

  • Interest rates: There will likely be a number of complex variables to consider, such as the way interest is charged (e.g. fixed rate, variable rates, partially-fixed rates, etc.) However, generally, the interest rate should be high for a return on savings and other investments, and low if you're purchasing a lending product - for example, a home loan.
  • Account keeping fees: Many banks today have zero monthly account-keeping fees. This should especially be the case if you're a full-time student. While some banks have a seemingly low fee of around $5 per month, this can add up over time ($300 in 5 years). You'll likely be happier keeping this money in your proverbial pocket.
  • Other conditions, fees and charges: These can include penalty fees for an overdrawn account, phone banking fees, ATM fees and overseas transaction fees. In terms of conditions, you may only qualify for bonus interest rates for a savings account if you meet the minimum monthly deposit amount, don't withdraw any money, and have a linked transactions account with the same bank.

Customer Service

If customer service is important to you, it can be helpful to do a bit of research and read reviews, to find out which banks perform the best in this area.

If talking to a person to help you with your banking is a priority to you, you might prefer banks with physical branches and a reliable phone banking service. Online-only banks mainly have chatbots, so it's up to you whether this counts as a personalised customer service experience.

Convenience

Convenience is subjective. For some people, being able to do all their banking on a smartphone app is convenient, and to others, popping into a bank branch on their lunch break is more convenient. Banks with a healthy number of ATMs also get extra points for convenience, as you won't be hit with annoying transaction fees each time you withdraw.

If you have a wealth portfolio - for example an investment property - you may like to take advantage of private banking services, and a traditional bank may be more convenient for you.

In short, consider what would be convenient for your banking purposes and your lifestyle, and factor this into the decision of which bank to go with.

Transparency

How transparent and open a bank is about its business practices is important. According to the ABA'a Banking Code of Practice 2020, transparency for a bank mainly involves: clear and timely communication, as well as engaging in accountable dealings with customers.

What this involves will depend specifically on the time of service offered. For example, according to the Code of Practice, customers should be notified of transaction fees before they're incurred. For credit cards, customers should be reminded when an introductory offer is about to end, and credit-card holders should be able to reduce credit limits or close their accounts online.

To get a better overall picture of a bank's transparency, reading real-to-life reviews from customers of Australian banks can be helpful.

Disclaimer: The information on this website is for general information only. It should not be taken as constituting professional advice from the website owner - ProductReview.com.au. ProductReview.com.au is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to your unique circumstances. ProductReview.com.au is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.