Consumer Finance Awards 2025: Money Minder of the Year
Macquarie Bank has been named Money's Money Minder of the Year as part of the 2025 Consumer Finance Awards.
- Find out how we chose the winners
- Order your copy of the July awards issue
- Check out more from the 2025 Consumer Finance Awards
It's always a leap of faith for Australians to hand their savings over to a financial institution, and our Money Minder award recognises this, combining scores across savings accounts, term deposits, customer service and digital experience to come up with a holistic winner for money minding.
This year's winner - for the second year in a row - is Macquarie Bank. There are good reasons behind the repeat performance.
By way of background, Australia is a nation of savers. Four out of five (80%) adults have a savings account and a majority choose high-interest options.
But if you have felt that your savings are not pulling their weight, you could be right. Account conditions are catching out savers. More than 70% of us face at least one restrictive condition on our savings account. That's seeing two-thirds of us fail to receive the maximum bonus interest rate each month.
It's a scary statistic at a time when households are battling a cost-of-living crunch.
Olivia McArdle, head of payments and deposits at Macquarie Bank, says, "Our goal has always been to provide a simple and seamless banking experience that maximises our customers' savings, without the strict conditions that have become common across other high interest savings accounts in the market."
She adds, "We've done away with all of that because savings shouldn't be hard work."
With Macquarie Bank there are no hoops to jump through or monthly requirements to meet, to earn a great rate. "This means our customers can sit back, watch their money grow without any hassle and get the best out of every dollar they put towards their savings goals," says McArdle.
As we move into a lower rate environment, it becomes increasingly important for savers to shop around for a competitive savings rate - and a savings account where they can realistically meet the conditions required to earn the top rate.
"At Macquarie Bank, we're committed to helping our customers make the most out of their money," says McArdle. "Both our transaction and savings accounts offer competitive variable interest rates without any restrictive conditions. So our customers can be confident they're receiving a great rate, regardless of how they choose to manage their money.
McAardle adds that for savers who often forget to check their rate or to switch accounts when high promotional interest rates roll off, "it's worth considering our no hoops or catches savings account, where they won't be penalised for moving their money around or not meeting certain criteria".
Macquarie Bank also offers customers a range of tools and options to help them grow and manage their money more effectively.
"Alongside our savings and transactions accounts, we offer term deposits with competitive fixed interest rates, which can help customers diversify their savings and lock in returns," says McArdle.
"Our award-winning mobile banking app and digital platform are designed to help Macquarie customers stay on top of their finances.
"From setting and tracking savings goals to accessing discounts through Macquarie Marketplace, our digital tools make it easier to save and spend smarter. Customers can tag transactions (for example, #tax) and generate reports to streamline organisation during tax time. Everything is designed to be intuitive, informative and tailored to support financial wellbeing."
Why they won
A suite of accounts that has done away with the restrictive terms and conditions needed to earn a decent return.
Top product
It all starts with a great rate of 2.50% on a Macquarie Bank transaction account.
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