Quick Answer: Which Is The Best Bank In Australia?

TOP-5 Best Banks of Australia

  1. Commonwealth Bank. This is the largest bank in terms of assets, deposits, market capitalization and a number of branches and ATMs, headquartered in Darling Harbour, Sydney, New South Wales.
  2. ANZ Banking Group.
  3. Westpac.
  4. National Australian Bank (NAB)
  5. Macquarie Group.

Which bank has most customers in Australia?

Of Australia’s big four banks, the Commonwealth Bank of Australia had the highest number of customers. As of June 30, 2020, Commonwealth Bank had approximately 17 million customers, three million more than Westpac Banking Corporation.

Is Bank of Queensland Safe?

However, all deposits and loans approved by an Owner Managed Branch are actually with BOQ. So if you deposit your money at an Owner Managed Branch, it is as safe as it would be with a corporately-owned branch, a service or transaction centre, Private Bank or a Business Banking Centre.

What banks do rich people use?

High-net-worth individuals often turn to same national banks that the rest of us use to meet our banking needs. Behemoths such as Bank of America, Chase and Wells Fargo are all popular choices for the ultra-wealthy.

Which is the safest bank to keep money?

Wells Fargo & CompanyWells Fargo & Company (NYSE:WFC) is the undisputed safest bank in America, now that JP Morgan Chase & Co.

How do I choose a bank in Australia?

Look after your money Look for accounts with no or low fees. Choose accounts with higher interest rates. Compare bank accounts and consider switching if you find a better one. Check your bank statements and contact your bank if you find something wrong.

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Why is Commonwealth bank the best?

Funding: CBA is 70% funded by customer deposits, which are typically more stable and less expensive. The balance is funded by capital and more expensive/more volatile wholesale debt. ANZ is only 52% funded by customer deposits, NAB is 57% and Westpac is 63%;

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