2021 Business Savings and Transaction Accounts Star Ratings and Awards

Canstar uses a sophisticated and unique rating methodology to compare business deposit accounts on our database. The top-performing accounts have been recognised with a 5-Star Rating and an Outstanding Value Award.

Products were compared based on price and features. For the price score, Canstar considered transaction fees, account-keeping fees and interest earned. For the features score, Canstar looked at factors such as ease of application, everyday account operation and customer service and support.

Canstar also considered four different types of business customers: business saver, high transactor, low transactor and electronic transactor. This allows business customers to narrow their search based on the type of account they are looking for and their transacting behaviour.

To stand out in the current market, Canstar’s research team noted that savings providers needed to offer businesses competitive rates, as well as the flexibility to manage and control accounts at any time. For transaction accounts, providers had to offer fee-free transactions at no monthly cost.

Released July 2021