2023 Everyday Banking
Canstar's 2023 Everyday Banking Awards
Australia’s largest comparison site, Canstar, releases its
2023 Bank of the Year Awards for Everyday Banking.
Released: 21 September, 2023
About the Everyday Banking Awards
Canstar’s Bank of the Year Award for Everyday Banking recognises the institutions offering competitive transaction accounts and credit cards for a variety of consumers in Australia.
Learn more about our Award process in the methodology.
Numbers crunched by Canstar Researchers
- 12 banks assessed
- 20 customer-owned institutions assessed
- 2 award-winning providers
Read our methodology →
View all Star Ratings and Awards →
About this year’s awards
To determine the winners, transaction accounts and credit cards are assessed using our sophisticated methodology that is unique to Canstar. Our Award methodology takes into consideration a variety of consumers with different spending levels and transaction behaviour.
Each transaction account and credit card reviewed for Canstar’s Everyday Banking Award is awarded points for its comparative pricing and array of features attached to the account.
Congratulations to the Award winners
(Winners are listed alphabetically)
Great Southern Bank
2023 Everyday Banking – Customer-Owned Bank of the Year
Great Southern Bank continues to perform leaps and bounds above the rest of the customer-owned market, claiming both the Everyday Banking Award and Savings Award for customer-owned banks. Canstar Researchers said its fee-free transaction account that also refunds international transaction fees granted them a steady lead in the transaction space and the Everyday Banking Award overall.
Previously known as CUA (Credit Union Australia), Great Southern Bank is a customer-owned bank that was established in 1946.
HSBC
2023 Everyday Banking – Bank of the Year
HSBC continues to dominate the transaction space with its Everyday Global Account, which holds a firm lead in the transaction market due to its fee-free transactions and cashback program on purchases under $100. Contributing to its performance is also HSBC’s Premier World Mastercard (Rewards plus), which has no annual fee, competitive rewards earning and complimentary insurance benefits.
HSBC is a banking and financial services organisation, operating in 63 countries and territories across the world. Founded in 1865 in Hong Kong and Shanghai, HSBC first started operations in Australia in 1965.
Does Canstar rate other products?
Insurance
Accounts and Transfers
About Canstar
Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.
FAQs
About: Josh Sale, Group Manager, Research & Ratings
Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.
As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.
Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.
Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.