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Mozo users name ING Direct as Australia’s best bank

by Nick Bendel10 minute read
The Adviser

Consumers have chosen ING Direct as Australia’s best bank and shown a clear preference for non-majors.

ING Direct earned a rating of 9.00 in the People’s Choice Banking Awards, which is run by comparison website Mozo.

The top five was rounded out by ME Bank on 8.47, Bendigo Bank on 8.26, Suncorp Bank on 8.22 and Bankwest on 8.17.

The awards were based on reviews of more than 200 lenders by more than 25,000 Australians.


The Best Home Loans category was won by Queenslanders Credit Union with a rating of 9.35.

It was followed by Bendigo Bank on 8.65, ME Bank on 8.64, CUA on 8.37 and ING Direct on 8.27.

NAB claimed the Best Big Four Bank title with a rating of 7.95, while Wide Bay Australia was named Best Building Society with a rating of 8.55.

Loans.com.au, which is owned by non-bank lender Firstmac, won the Cheapest Home Loan award with a rating of 9.20.

ING Direct also claimed wins in the categories of Best Savings Accounts and Bank Accounts after scoring 9.17 for each.

ING Direct’s executive director of customers, John Arnott, said the bank operates a low-cost banking model that passes on to customers the savings made on branches.

“Our success in the third-party space can be attributed to the fact that we source and act on feedback from our third-party partners on a regular basis,” he told The Adviser.

ING Direct won 16 of the 23 categories in The Adviser’s recent Non-Major Bank Rankings.

Mr Arnott said the bank had used feedback to improve in many of these categories.

“Our partners also respond favourably to our industry-leading Net Promoter Score and customer satisfaction levels,” he said.

[Related: ING Direct cuts variable rate to 4.63pc]



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