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2024 Business Savings and Transaction Account Awards
Canstar's 2024 Outstanding Value - Business Savings and Transaction Account Awards
Canstar releases its
2024 Outstanding Value – Business Savings and Transaction Account Awards.
Released: 25 July, 2024
About the Business Savings & Transaction Account Awards
Canstar’s Business Savings and Transaction Account Awards recognise the financial institutions that provide outstanding value to consumers in Australia through their suite of business savings and transaction products. To identify the award winners, each eligible provider is assessed using Canstar’s sophisticated methodology.
You can learn more about our Award process through Canstar’s methodology.
Numbers crunched by Canstar Researchers
- 59 Products Rated
- 26 Providers Assessed
- 9 Award winners
Read our methodology →
View all Canstar Star Ratings and Award results →
Congratulations to the Award Winners
(Winners are listed alphabetically)
AMP
Outstanding Value – Business Savings Accounts
Founded in 1849, AMP is a financial institution operating across Australia and New Zealand. AMP Bank is headquartered in New South Wales.
Australia Mutual Bank
Outstanding Value – Business Savings Accounts
Australian Mutual Bank was formed in 1953 and unlike major banks, it is not a publicly listed company. Their registered company name, Australia Mutual Bank Ltd, was created after the 2019 merger between Endeavour Mutual Bank and Sydney Mutual Bank.
Community First Bank
Outstanding Value – Business Transaction Accounts
Starting in 1959, Community First Bank is one of Sydney’s largest community owned credit unions.
Heritage Bank
Outstanding Value – Business Transaction Accounts
With origins tracking back to 1875, Heritage Bank is a customer owned bank based in Toowoomba and has a number of branches across Queensland and New South Wales. Heritage Bank and People’s Choice Credit Union merged in March 2023 to form Heritage and People’s Choice limited.
Macquarie Bank
Outstanding Value – Business Savings Accounts
Macquarie is an Australian-operated bank founded in 1969. Expanding over the years, Macquarie Bank and the Macquarie Group has become a global financial services group.
Newcastle Permanent
Outstanding Value – Business Transaction Accounts
Newcastle Permanent is a customer-owned bank, or mutual bank, that has been in operation for more than 117 years. In March 2023, Newcastle Permanent and Greater Bank merged to create Newcastle Greater Mutual Group.
Regional Australia Bank
Outstanding Value – Business Savings Accounts
Regional Australia Bank is a customer owned bank that has roots that can be traced back to 1969. In 2016, the bank became Regional Australia Bank through the merging of Community Mutual Group and Holiday Coast Credit Union.
Suncorp bank
Outstanding Value – Business Savings Accounts
Outstanding Value – Business Transaction Accounts
Established in 1902, Suncorp is a financial services group with established brands throughout Australia and New Zealand.
Westpac
Outstanding Value – Business Transaction Accounts
Westpac is known as one of Australia’s ‘Big Four’ banks, having been established in 1817 as the Bank of New South Wales. Westpac claims to be Australia’s first and oldest banking institution.
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.