The Finder Customer Satisfaction Awards ask Australians which brands and products they trust and love the most. For the online-only account satisfaction awards, we surveyed thousands of Australians to rate their accounts.
Up bank has been named the most loved brand for online-only bank accounts this year, with a score of 4.3 out of 5. A pioneer in digital banking, Up offers accounts with minimal fees and heaps of features to help you budget and track your spending via its app.
Up bank has been named the most loved brand for online-only bank accounts this year, with a score of 4.3 out of 5. A pioneer in digital banking, Up offers accounts with minimal fees and heaps of features to help you budget and track your spending via its app.
Loved Brand
Ubank has been named a runner up for this year's most loved brand for online-only bank accounts, with a score of 4.10 out of 5.
Ubank has been named a runner up for this year's most loved brand for online-only bank accounts, with a score of 4.10 out of 5.
Macquarie has been named a runner up for this year's most loved brand for online-only bank accounts, with a score of 4.10 out of 5.
Macquarie has been named a runner up for this year's most loved brand for online-only bank accounts, with a score of 4.10 out of 5.
As well as being named the most loved, Up bank has been named the most trusted brand for online-only bank accounts this year. Up earned a score of 4.23 out of 5 for this category.
As well as being named the most loved, Up bank has been named the most trusted brand for online-only bank accounts this year. Up earned a score of 4.23 out of 5 for this category.
Trusted Brand
Macquarie has been named a runner up for this year's most trusted brand for online-only bank accounts, with a score of 4.07 out of 5.
Macquarie has been named a runner up for this year's most trusted brand for online-only bank accounts, with a score of 4.07 out of 5.
Ubank has been named a runner up for this year's most trusted brand for online-only bank accounts, with a score of 4.07 out of 5.
Ubank has been named a runner up for this year's most trusted brand for online-only bank accounts, with a score of 4.07 out of 5.
Up bank has been named the online bank account brand with the best customer service this year. Despite having no physical branches, its customers agreed the bank offered legendary customer service with a score of 4.26 out of 5 for this category.
Up bank has been named the online bank account brand with the best customer service this year. Despite having no physical branches, its customers agreed the bank offered legendary customer service with a score of 4.26 out of 5 for this category.
Quality Service
Ubank has been named a runner up for this year's online bank account brand with the best customer service, with a score of 3.99 out of 5.
Ubank has been named a runner up for this year's online bank account brand with the best customer service, with a score of 3.99 out of 5.
Macquarie has been named a runner up for this year's online bank account brand with the best customer service, with a score of 3.99 out of 5.
Macquarie has been named a runner up for this year's online bank account brand with the best customer service, with a score of 3.99 out of 5.
After being named the most loved and most trusted online bank account brand, it's no surprise Up was also the most recommended this year. Almost 90% of Up's customers would recommend the online-only bank to friends and family.
After being named the most loved and most trusted online bank account brand, it's no surprise Up was also the most recommended this year. Almost 90% of Up's customers would recommend the online-only bank to friends and family.
Recommended Brand
Ubank has been named a runner up for this year's most recommended brand for online bank accounts, with 86% of customers recommending it.
Ubank has been named a runner up for this year's most recommended brand for online bank accounts, with 86% of customers recommending it.
Macquarie has been named a runner up for this year's most recommended brand for online bank accounts, with 86% of customers recommending it.
Macquarie has been named a runner up for this year's most recommended brand for online bank accounts, with 86% of customers recommending it.
Each year, thousands of Australians rate brands they've used as part of Finder's Customer Satisfaction Awards. Consumers assess brands within a product category across various metrics, including trust, customer service, value and overall satisfaction. Finder partnered with leading data and insights firm Dynata to survey customers and analyse their feedback.
Customers reviewed products they had purchased or used recently, with the recency period varying by category—from within the past year to up to five years.
Surveys continued until each category reached a minimum sample size of 500 to 5,000 responses, depending on the category. Respondents selected a brand from a pre-populated list or entered their own. Responses were recorded as they fell naturally.
We used the following metrics to assess brands and asked customers between 4-8 questions, including:
The final scores were determined exclusively based on the relevant metric. For example, the Most Trusted award was calculated based on responses to the question on how much people trust a brand, while the Most Loved award was based on responses to the question on how much people love a brand.
If a brand or product no longer exists in the market, they were disqualified and excluded from our assessment, meaning that they were ineligible for consideration for any Award (even though responses may have been collected in relation to the relevant brand's product(s) at such time that they were previously available). However, if only the brand's name changed and the products remained the same, the brand was still eligible for consideration for an Award and was assessed by us on the basis of the new brand name. Additionally, brands that did not meet the minimum per-brand sample size were excluded. The threshold ranged from 40 to 100 responses per brand, depending on the category, with most being 100.
The Finder Customer Satisfaction Awards is an independent awards program and commercial partnerships do not influence the results in any way.
Piyush is an insights analyst at Finder and is responsible for developing the methodology for Finder's Product Awards. He holds an MBA from Macquarie University and a MSc in Banking and Finance from the University of London.
Richard Whitten is a money editor at Finder. He has been covering home loans, property and personal finance for the last 7 years.
With over 10 years of experience writing about personal finance, Alison has written extensively for a range of financial institutions and publications including Westpac, Money Magazine and Financy.
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