Big Four Banks Rate Poorly In Mozo Rankings

Finance comparison site Mozo has gathered up its review data over 12 months to award "People's Choice" gongs to the best financial institutions and products. Perhaps unsurprisingly, online accounts rate the highest, while the Big Four (Commonwealth, NAB, Westpac/St George and ANZ) don't score so well.

Mozo says the data represents the summation of 23,000 bank ratings from site users. ING Direct was rated best bank, Victoria Teachers Credit Union was best credit union and the Greater was best building society. All of the big four ranked in the bottom ten "worst institutions" list (though Mozo hasn't placed this directly on its site). The big issues with those banks were high fees, bad customer service and uncompetitive interest rates. Hit the link for the full list of winners, and tell us what matters to you when picking a financial institution in the comments.

Mozo People's Choice Awards 2010


Comments

    "As voted"? Meh... I'd rather see an objective comparison

      Voting in this format is virtually the same as word of mouth. I have not voted but I am actually with VTCU and always found it fantastic. It is no surprise it polled well.

      You can be objective as you like but I will always consider people's opinions and reviews first.

    high bank fees huh??? I am with NAB and i dont get any at all, there is no minimum monthly deposits, i dont get charged by NAB for using another ATM, i have free unlimited EFTPOS, Bpay, internet banking and post office banking transactions, there is no elgibility criteria, no overdraw fees and i get a Visa Debit card bundled with my account.

    Sorry for sounding like a plugging but i have had no troubles with NAB

    No matter how you cut it, it always comes down to the shareholders, so with that in mind you are going to be better of with a building society :]

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