Australians love complaining about bank rip-offs, but are often reluctant to make the effort to change. A new tool co-developed by financial advocate Choice and finance comparison site Mozo helps you identify the savings available if you do make a change to a better deal.
According to the Compare, Ditch And Switch site, customers who switch from the most expensive options offered by the big four banks (ANZ, Commonwealth, National and Westpac) can typically save $2500 a year on a mortgage, $440 on a credit card account and $330 on savings accounts. Even if you've got a typical mid-range account from the banks, the savings can be up to $270 a year for credit cards or $190 for savings accounts.
You can enter your own details on the site to see what deals are possible. Unlike most comparison engines, there's no referral fee being paid if you do pick an account and make the switch.
If you spot a good deal using the tool, tell us about it in the comments.