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Any suggestions which banks are the least shit?
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this post was submitted on 07 Aug 2023
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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.
Cool, never heard of them, will check em out, thanks!
They used to be known as Credit Union Australia.
Is it one of those situations where they've got so much bad press as CUA, that now they operate under a different name?
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.
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.
Haha, oh god, that's almost worse!