Any suggestions which banks are the least shit? (aussie.zone)

submitted 1 year ago* (last edited 1 year ago) by DolphinLundgrin@aussie.zone to c/australia@aussie.zone

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I was switching to that Up Bank (by Bendigo), but they straight refuse to let me fund my crypto account, so that's out because I just want basic control of my own money.

I also have a Bank Australia account, but, while they like to pat themselves on the back about sustainability, their service and product is crap, imo.

So what else you got?

Edit: Just realised I should probably have posted this to AusFinance, but ah well!

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[-] abhibeckert@beehaw.org 5 points 1 year ago* (last edited 1 year ago)

No idea about crypto, but Great Southern Bank is excellent.

They are a "customer owned" bank - so all profits the bank generates from the money you deposit, fees you pay (there aren't many fees) are returned to you, as both a customer and partial owner of the bank.

[-] DolphinLundgrin@aussie.zone 2 points 1 year ago

Cool, never heard of them, will check em out, thanks!

[-] morry040@kbin.social 4 points 1 year ago

They used to be known as Credit Union Australia.

[-] DolphinLundgrin@aussie.zone 2 points 1 year ago

Is it one of those situations where they've got so much bad press as CUA, that now they operate under a different name?

[-] abhibeckert@beehaw.org 5 points 1 year ago* (last edited 1 year ago)

They consistently rank as one of the best banks in Australia on every comparison.

Hardly anyone knows what a Credit Union is - that's why they removed it from the name (it is still a credit union. And a credit union is a type of bank).

I have no experience with any of the other banks that score as well as Great Southern, they're probably good too but I'm so happy I don't want to switch. I went through close do a dozen banks before finding this one.

[-] Ilandar@aussie.zone 4 points 1 year ago

According to this article it was because they were losing too many potential customers to banks. Their market research suggested over half of Australians didn't even know what a credit union was and that number was even higher among young people.