Money magazine - Bank of the Year Money magazine is Australia's longest-running and most-read personal finance magazine. Easy-to-understand financial news, advice, reviews and awards. https://www.moneymag.com.au/feed/latest?section=bank-of-the-year Wed, 03 Jul 2019 19:30:23 +1000 Wed, 03 Jul 2019 19:30:23 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine - Bank of the Year https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Bank of the Year 2019 https://www.moneymag.com.au/bank-year-2019 141576864 Suncorp has won prestigious Bank of the Year honours in Money magazine's Consumer Finance Awards for the second consecutive year. Money Team Bank of the Year Wed, 03 Jul 2019 19:30:23 +1000 Suncorp has won prestigious Bank of the Year honours in Money magazine's Consumer Finance Awards for the second consecutive year.

Now in its 15th year, the awards empower Australians to choose the best financial and insurance product providers.

The Consumer Finance Awards recognise Australia's leading financial institutions across 13 categories.

Bank of the Year - Suncorp

Customer-Owned Institution of the Year - Bank Australia

Credit Card Issuer of the Year - American Express

Money Minder of the Year - ME

Personal Lender of the Year - People's Choice Credit Union

Home Lender of the Year - Greater Bank

Non-Bank Home Lender of the Year - Freedom Lend

Investment Lender of the Year - Newcastle Permanent

Non-Bank Investment Lender of the Year - Freedom Lend

Insurer of the Year - Budget Direct

Business Bank of the Year - Suncorp

Margin Lender of the Year - CommSec

Mobile Banking Provider of the Year - ING

]]> Bank of the Year 2018 https://www.moneymag.com.au/bank-year-2018-2 141509161 Bigger isn't always better when it comes to banking, as Money magazine's annual Consumer Finance Awards, including the prestigious Bank of of the Year award, show. Money Team Bank of the Year Thu, 07 Jun 2018 15:40:09 +1000 Bigger isn't always better when it comes to banking, as Money magazine's annual Consumer Finance Awards, including the prestigious Bank of the Year 2018 award, show.

"The banking landscape is constantly changing, so it pays to regularly review your needs," says Money editor Effie Zahos.

While the big four banks dominate lending in Australia, controlling more than 82% of loans, only one major bank made the cut in the seven award categories for lending.

Tight competition across all 14 categories demonstrates the strength of financial product offerings in the Bank of the Year 2018 awards.

"We reveal the top performers and their hero products and just how much consumers can save," says Zahos.

"This issue is the annual reminder consumers need to check their home, investment, personal and business loans, and see where they can get a better deal."

Bank of the Year - Suncorp

Customer-Owned Institution of the Year - Bank Australia

Credit Card Issuer of the Year - American Express

Money Minder of the Year - ME

Personal Lender of the Year - People's Choice Credit Union

Home Lender of the Year - Greater Bank

Non-Bank Home Lender of the Year - Freedom Lend

Investment Lender of the Year - Newcastle Permanent

Non-Bank Investment Lender of the Year - Homestar Finance

Insurer of the Year - Budget Direct

Business Bank of the Year - Suncorp

Margin Lender of the Year - CommSec

Mobile Banking Provider of the Year - Commonwealth Bank

]]> Bank of the Year 2017 https://www.moneymag.com.au/bank-year-2017 141437003 For just the second time in this award's 13-year history, the title of Bank of the Year has been taken out by a bank other than one of the big four. Money Team Bank of the Year Thu, 15 Jun 2017 16:07:53 +1000 With most Australians sticking to just one or two banks, consumers need to know they are getting the best deal across a range of products.

Money has teamed up with Canstar to bring you the 2017 Consumer Finance Awards, which names the best providers across 14 categories.

We reveal the hero products that got the top performers over the line, and how much consumers can save.

Now in their 14th year, there are some surprises this time around.

For just the second time in this award's 13-year history, the title of Bank of the Year has been taken out by a bank other than one of the big four.

With most Australians sticking to just one or two banks, consumers need to know they are getting the best deal across a range of products. Money has teamed up with Canstar to bring you the 2017 Consumer Finance Awards, which names the best providers across 14 categories. We can reveal the hero products that got the top performers over the line, and how much consumers can save.

Bank of the Year: Bankwest

Bankwest has been named Bank of the Year for a strong performance across all categories considered but in particular transaction and savings accounts and home loans. It is just the second time in the 13 years of the Consumer Finance Awards that a bank other than the big four has taken out the top award.

Home Lender of the Year: Bank Australia

Home buyers who need convincing that great-value home loans can be found outside the big banks need look no further. Home loan products that are rich in features and competitively priced helped Bank Australia beat out other home loan providers to win the award.

Credit Card Issuer of the Year: Coles

Once again Coles has taken out our award for Credit Card Issuer of the Year, having won last year for the first time. Coles offers a great range of credit cards, including low rate, no annual fee and rewards options.

Insurer of the Year: Budget Direct

A range of competitively priced, superior products, including gold comprehensive car insurance and comprehensive home and contents insurance, helped Budget Direct win this award.

Mobile Banking Provider of the Year: CommBank

CommBank has picked up this award for the seventh year in a row, offering a comprehensive list of features across platforms, allowing customers to experience a seamless transition from desktop to mobile.

]]> Bank of the Year 2016 https://www.moneymag.com.au/bank-year-2016 141385567 It's that time again! Money's annual Consumer Finance Awards. Who will win this year's Bank of the Year 2016 award? Bank of the Year Sun, 05 Jun 2016 09:23:00 +1000 For the 12th year Money's Consumer Finance awards issue reveals the financial institutions providing customers with top value in 12 key categories.

Money's research partner Canstar closely scrutinised more than 15,000 financial products and services from more than 200 financial institutions to come up with our deserving winners.

Which institutions took out the coveted bank, building society and credit union of the year titles and just where does your financial institution rank?

Things move fast in the finance world and last year's winner may not necessarily be this year's best. Money can reveal what products helped get the winners across the line and how much you can save with the top products.

For the 12th year Money's Consumer Finance awards issue reveals the financial institutions providing customers with top value in 12 key categories, , including Bank of the Year 2016.

Money's research partner Canstar closely scrutinised more than 15,000 financial products and services from more than 200 financial institutions to come up with our deserving winners.

Which institutions took out the coveted bank, building society and credit union of the year titles and just where does your financial institution rank?

Things move fast in the finance world and last year's winner may not necessarily be this year's best. Money can reveal what products helped get the winners across the line and how much you can save with the top products.

Bank of the Year 2016 - NAB

Building Society of the Year - Newcastle Permanent

Credit Union of the Year - Bcu

Home Lender of the Year - Queenslanders Credit Union

Money Minder of the Year - Ing Direct

Credit Card Issuer of the Year - Coles

Personal Lender of the Year - Newcastle Permanent

Business Bank of the Year - Suncorp Bank

Insurer of the Year - Commonwealth Bank

Margin Lender of the Year - Westpac

Non-Bank Lender of the Year - Pacific Mortgage Group

Mobile Banking Provider of the Year - Commonwealth Bank

]]> Bank of the Year 2014 https://www.moneymag.com.au/bank-of-the-year-2014 141382361 The Consumer Finance Awards reveal some exciting results in 13 different categories including Credit Union of the Year, Building Society of the Year, Home Lender of the Year and Credit Card Issuer of the Year. So is is Money's Bank of the Year 2014? Money Team Bank of the Year Wed, 18 Mar 2015 15:54:58 +1100 Are you banking with the best? Who is Money's Bank of the Year 2014 and where does your bank rank?

Now in its 10th year Money's Consumer Finance Awards issue - judged with the help of our research partner Canstar - reveals some exciting results in 13 different categories including Credit Union of the Year, Building Society of the Year, Home Lender of the Year and Credit Card Issuer of the Year.

"After 10 years running this awards edition, it's always great to see consecutive winners, as it demonstrates a continued commitment to staying at the cutting edge of the industry on both price and features," says Money editor Effie Zahos.

Bank of the Year: CBA

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: CUA

Home Lender of the Year: ANZ

Business Bank of the Year: CBA

Money Minder of the Year: Bankwest

Non-bank lender of the Year: State Custodians

Margin Lender of the Year: CommSec

Personal Lender of the Year: Newcastle Permanent

Socially Responsible Institution of the Year: Westpac (bank), Community Mutual Group (Mutual)

Credit Card Issuer of the Year: Mutuals (Catalyst Money, CUA, FCCS Credit Union, Illawarra Credit Union NSW, IMB, My State, QT Mutual Bank, Queenslanders Credit Union, Unicredit)

Insurer of the Year: AAMI

Banking Website of the Year: CBA

]]> Bank of the Year 2013 https://www.moneymag.com.au/bank-of-the-year-2013 141382364 The top products from the winning institutions - including Bank of the Year 2013 - are highlighted in this special Consumer Finance Awards issue. Money Team Bank of the Year Wed, 18 Mar 2015 15:53:39 +1100 Are you banking with the best? Who is Money's Bank of the Year 2013 and where does your bank rank?

Now in its ninth year Money's Consumer Finance Awards issue - judged with the help of our research partner Canstar - reveals some exciting results in 13 different categories including Credit Union of the Year, Building Society of the Year, Home Lender of the Year and Credit Card Issuer of the Year.

The top products from the winning institutions are highlighted in this special awards issue.

"The beauty of these awards is that the methodology is transparent and consistent, but not so rigid that it can't be changed to fit what you, the consumer, want," says Money editor Effie Zahos.

Bank of the Year: CBA

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: Police Credit

Home Lender of the Year: Newcastle Permanent

Business Bank of the Year: ANZ

Money Minder of the Year: Bankwest

Non-Bank Lender of the Year: State Custodians Mortgage Company

Margin Lender of the Year: CommSec

Personal Lender of the Year: Horizon Credit Union

Socially Responsible Institution of the Year: Westpac (Bank) Community Mutual Group (Mutuals)

Credit Card Issuer of the Year: Bankwest

Insurer of the Year: AAMI

Banking Website of the Year: CBA

]]> Bank of the Year 2012 https://www.moneymag.com.au/bank-of-the-year-2012 141382357 There were no consecutive wins in the big three categories this year: Bank of the Year 2012, Credit Union of the Year and Building Society of the Year. Money Team Bank of the Year Wed, 18 Mar 2015 15:52:20 +1100 Our end of financial year issue would not be complete without the inclusion of our Consumer Finance Awards.

There were no consecutive wins in the big three categories this year: Bank of the Year 2012, Credit Union of the Year and Building Society of the Year.

This reinforces the notion that you should never just assume that you are banking with the best.

Consumer satisfaction also played a big part in these categories, with Money for the first time teaming with Roy Morgan research.

Products, features and pricing all change, so don't become complacent.

Other hotly contested categories include Home Lender of the Year, Money Minder of the Year and Credit Card Issuer of the Year.

Bank of the Year: ANZ

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: Community CPS Australia

Home Lender of the Year: ANZ

Business Bank of the Year: CBA

Money Minder of the Year: Bankwest

Non-bank Lender of the Year: State Custodians Mortgage Company

Margin Lender of the Year: CommSec

Personal Lender of the Year: Horizon Credit Union

Socially Responsible Institution of the Year: NAB (listed), bankmecu (unlisted)

Credit Card Issuer of the Year: Bankwest

Insurer of the Year: AAMI

Banking Website of the Year: CBA

]]> Bank of the Year 2011 https://www.moneymag.com.au/bank-of-the-year-2011 141382352 "The Consumer Finance Awards, including Bank of the Year 2011, are not about finding the cheapest product, but rather the best value," says Money editor Effie Zahos. Money Team Bank of the Year Wed, 18 Mar 2015 15:51:59 +1100 Where does your bank, building society or credit union rank this year?

Money and research partner Canstar Cannex bring you the best value financial products on the market for 2011.

There is a lot of information out there, so if you're not happy with your current financial institution's products and services, this issue of Money will assist in narrowing down your alternatives.

"The Consumer Finance Awards, including Bank of the Year 2011, are not about finding the cheapest product, but rather the best value," says Money editor Effie Zahos.

"Winners lists are a great start for consumers making their initial shopping lists for financial products. We hope this issue arms you with the information you need to informed decisions."

Bank of the Year: CBA

Home Lender of the Year: NAB

Non- Bank Lender of the Year: State Custodians

Margin Lender of the Year: CommSec

Personal Lender of the Year: Community Alliance

Credit Card Issuer of the Year: CBA

Business Bank of the Year: Westpac

Banking Website of the Year: CBA

Insurer of the Year: AAMI

Money Minder of the Year: Bankwest

Socially Responsible Bank of the Year: Westpac

Building Society of the Year: Hume Building Society

Credit Union of the Year: Victorian Teachers Credit Union

]]> Bank of the Year 2010 https://www.moneymag.com.au/australias-best-banks-revealed 141382333 Commonwealth Bank of Australia has taken out Money magazine's prestigious Bank of the Year 2010 award. NAB came second, while Westpac rounded out the top three. Money Team Bank of the Year Wed, 18 Mar 2015 15:50:14 +1100 Commonwealth Bank of Australia has taken out Money magazine's prestigious Bank of the Year 2010 award.

The bank was highly commended in virtually every category and was singled out for offering attractive rates on savings accounts.

Nab came second, while Westpac rounded out the top three.

RAMS Home Loans was named best non-bank lender for the second year in a row with Homestar Finance and Collins Home Loans taking second and third spot respectively.

NAB scored the award for Credit Card Issuer of the Year, while Budget Direct was named Insurer of the Year.

"For the past six years the June issue of Money has played host to the Consumer Finance Awards," says Money editor Effie Zahos.

"This year is no exception and we hope it serves as a timely reminder to all Money readers to ask themselves: where does my bank, building society or credit union rank?"

Bank of the Year: CBA

Credit Union of the Year: Community Alliance CU

Building Society of the Year: IMB Limited

Socially Responsible Bank: NAB

Insurer of the Year: Budget Direct

Home Lender of the Year: ANZ

Credit Card Issuer of the Year: NAB

Non-Bank Lender of the Year: RAMS Home Loans

Personal Lender of the Year: Holiday Coast Credit Union

Money Minder of the Year: CBA

Banking Website of the Year: St George/BankSA

Margin Lender of the Year: CommSec

Business Bank of the Year: Westpac

]]> Bank of the Year 2009 https://www.moneymag.com.au/bank-of-the-year-2009 141382393 "Now in its fifth year, the main of the Consumer Finance Awards, including Bank of the Year 2009, is to push the banks and other financial institutions to provide even better products and services," says Money Effie Zahos. Money Team Bank of the Year Wed, 18 Mar 2015 14:47:20 +1100 Where does your institution rank?

These difficult economic times have underlined the importance of a strong financial system, as we have in Australia.

"Now in its fifth year, the main of the Consumer Finance Awards, including Bank of the Year 2009, is to push the banks and other financial institutions to provide even better products and services," says Money Effie Zahos.

"This has not been easy with the global financial crisis.

"This special awards edition of Money magazine celebrates those that have delivered exceptional value across a broad range of products while recognising there is still a lot of room for improvement."

The winners of the 2009 Consumer Finance Awards are:

Bank of the Year: Westpac

Credit Union of the Year: Community Alliance

Building Society of the Year: IMB Limited

Credit Card Issuer of the Year: 16 credit unions share the top spot

Money Minder of the Year: Bankwest

Personal Lender of the Year: Holiday Coast Credit Union

Home Lender of the Year: St. George and BankSA

Non- Bank Lender of the Year: RAMS

Margin Lender of the Year: Colonial Geared Investments

Business Bank of the Year: Westpac

Banking Website of the Year: Commonwealth Bank of Australia

Socially Responsible Bank of the Year: ANZ

]]> Bank of the Year 2008 https://www.moneymag.com.au/bank-of-the-year-2008 141382294 CBA has been named Money's Bank of the Year 2008, while Community CPS took out the award for Credit Union of the Year. Money Team Bank of the Year Wed, 18 Mar 2015 14:46:20 +1100 "It's been an action-packed time led by 12 consecutive interest rate rises from the RBA since May 2002, fuelling an infectious 'material disease' called 'mortgage stress'," says Money editor Effie Zahos.

"There's the emergence of a possible trend of big banks swallowing smaller competitive ones."

In this banking climate, Money's Consumer Finance Awards - including Bank of the Year 2008 - couldn't have come at a better time.

"Products and prices are moving quickly, so it's worth checking on how your products compare with this year's winners," says Andrew Spicer, CEO of Cannex, the research house behind the Consumer Finance Awards.

The winners of the Bank of the Year 2008 awards are:

Bank of the Year: Commonwealth Bank of Australia

Credit Union of the Year: Community CPS Australia

Building Society of the Year: Newcastle Permanent

Credit Card Issuer of the Year: St George/BankSA

Money Minder of the Year: Bankwest

Personal Lender of the Year: Holiday Coast Credit Union

Home Lender of the Year: ANZ

Non-Bank Lender of the Year: Homestar Finance

Margin Lender of the Year: Colonial Margin Lending

Business Bank of the Year: Westpac

Banking Website of the Year: Commonwealth Bank of Australia

Socially Responsible Bank of the Year: Westpac

Seniors Bank of the Year: ANZ

]]> Bank of the Year 2007 https://www.moneymag.com.au/bank-of-the-year-2007 141382279 Believe it or not Australians do have it good when it comes to banking. Here Money names its Bank of the Year 2007 winners. Money Team Bank of the Year Wed, 18 Mar 2015 03:45:00 +1100 Believe it or not Australians do have it good when it comes to banking.

It's true, mortgage fees are less transparent than they've ever been, thanks to the proliferation of exit fees, break fees and account fees.

It's harder for consumers to determine the true cost of a mortgage.

It's also true transaction account fees are higher than in the UK, New Zealand or Canada, and credit card fees just as bad when compared with our international peers.

But back to the good news - Australia's vast banking product universe contains great savings. It just a matter of knowing where to look.

In the June edition of Money we take the guesswork and legwork out of getting the best deal.

Our annual Consumer Finance Awards, including Bank of the Year 2007, celebrate the financial institutions that deliver exceptional value across a broad range of products. They may not necessarily have the cheapest products, but then cheap is not always good.

Here is a sneak peak at some of the winners:

The winner of Bank of the Year 2007

ANZ

The winner of the Building Society of the Year

Newcastle Permanent

The winner of the Credit Union of the Year

Credit Union Australia

The winner of the Non-Bank Lender of the Year

Royal Guardian

The winner of the Best Online Savings Account

Bank: Bankwest

The winner of the Product Innovator of the Year

Westpac

The winner of the Online Lender of the Year

One Direct

Subscribe to Money Magazine by clicking here.

]]> Bank of the Year 2006 https://www.moneymag.com.au/bank-of-the-year-2006 141382299 It is the readers who benefit most from the Consumer Finance Awards, including Bank of the Year 2006, because in the process we unearth the very best financial products available today. Money Team Bank of the Year Tue, 17 Mar 2015 14:41:20 +1100 It is the readers who benefit most from the Consumer Finance Awards, including Bank of the Year 2006, because in the process we unearth the very best financial products available today.

We also thank our research partners Cannex, Australia's leading banking industry research group, for the painstaking effort they put into judging this awards.

Cannex sorted through thousands of products from hundreds of institutions to arrive at the winners and finalists.

"The closeness of some of the awards, particularly for the prestigious title of Bank of the Year, shows just how competitive the industry is," Cannex managing director Andrew Willink says. "And this is very good for all of us who use their products daily."

The winners this year are:

Bank of the Year: NAB

Credit Union of the Year: Savings and Loans CU

Building Society of the Year: IMB Limited

Non- Bank Lender of the Year: Resi

Finance Company of the Year: GE Money

Money Minder of the Year: HSBC

Credit Card Issuer of the Year: St George/BankSA

Personal Lender of the Year: Savings and Loans CU

Home Lender of the Year: ANZ

Margin Lender of the Year: St George

Investment Lender of the Year: Newcastle Permanent

Business Bank of the Year: St George

]]> Bank of the Year 2005 https://www.moneymag.com.au/bank-year-2005 141378938 Welcome to Money magazine's inaugural Consumer Finance Awards, including the coveted Bank of the Year 2005 gong. Money Team Bank of the Year Wed, 15 Jun 2005 09:20:07 +1000 Welcome to Money magazine's inaugural Consumer Finance Awards, including the coveted Bank of the Year 2005 gong.

All the winners, and in particular the five major winners - ANZ Savings and Loans CU (SA), IMB Ltd, Yes Home Loans and GE Money, stay well ahead of the pack when it comes to catering for everyday money needs.

Money partnered with research house CANNEX, Australia's leading banking industry research group, which looked at hundreds of institutions and combed through thousands of products.

From conception to awards nights, the process for Bank of the Year 2005 took close to four months.

"Competition is alive and well in the consumer finance industry," says CANNEX managing director Andrew Willink.

"And awards like these drive the institutions to do even better, which is good news for all of us who use their products."

The winners:

Bank of the Year: ANZ

Credit Union of the Year: Savings and Loans CU SA

Building Society of the Year: IMB Limited

Mortgage Originator (Non-Bank Lender) of the Year: Yes Home Loans

Finance Company of the Year: GE Money

Money Minder of the Year: ANZ

Home Loan Lender of the Year: ANZ

Credit Card Issuer of the Year: St George/BankSA

Personal Lender of the Year: Savings and Loans CU SA

Investment Lender of the Year: CBA

Business Bank of the Year: Westpac

]]>