There is no single "best" bank in Australia, as the ideal choice depends on individual needs, such as a strong app, low fees, high interest rates, or specific services. Award-winning banks in various categories for 2025/2026 include ING, Macquarie Bank, and Bendigo Bank.
CommBank, ANZ, NAB and Westpac all now rank among the 25 safest banks in the world. As you can see, the big four have identical scores, all very strong indicating a very low credit risk.
Australia's Best Major Bank: Commonwealth Bank
“If you prefer the national branch network of a major bank, CommBank is once again the standout of the big four” explains Marshall.
While Bendigo Bank consistently held the title for years, recent 2025 data from Roy Morgan shows the Commonwealth Bank (CBA) has taken over as Australia's most trusted bank, recognized for digital security and customer service, though customer-owned banks (like Bendigo) are noted for strong sector-wide trust.
1. Commonwealth Bank of Australia. Commonwealth Bank dominates the Australian banking landscape as the nation's largest financial institution by every major measure including assets, market capitalisation, deposits and customer numbers.
Best National Banks
Summary. The Australian financial system, including APRA-regulated entities across banking, insurance and superannuation, continues to be safe, stable and resilient. The system is well-placed to absorb potential adverse shocks in a rapidly changing, complex and highly interconnected operating environment.
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Here, we'll take a quick look at the top three banks from the study and what they offer.
New financial data from Roy Morgan's Wealth Report shows that among the larger banks, Macquarie has the wealthiest customers. Macquarie customer net wealth per capita is a market leading $943,000 in March 2024.
SoFi® (Member FDIC) is a top choice for online banking security, thanks to its robust fraud protection, two-factor authentication, and FDIC insurance covering deposits up to $3 million ⁴.
The banks of greatest concern are Flagstar Bank and Zion Bancorporation, according to the screener. Flagstar Bank reported $113 billion in assets with a total CRE of $51 billion. The bank, however, only had $9.3 billion in total equity, making its total CRE exposure 553% of its total equity.
Australia's sixth largest bank by market capitalisation, the regionally headquartered Bendigo Bank, has repeated its victory as the 'Most Trusted Bank Brand' in Australia in 2023 coming out ahead of the country's largest bank, the CBA, and international rival ING.
Key takeaways. $10,000 in a competitive high-yield savings account (4% APY) earns about $408 in one year. Big bank savings accounts (0.01% APY) would earn only $1 on $10,000 per year. High-yield accounts are best for emergency funds and short-term savings goals.
The top 3 banks in Australia, often part of the dominant "Big Four," are Commonwealth Bank (CBA), Westpac (WBC), and National Australia Bank (NAB), based on recent market capitalization, with ANZ (Australia & New Zealand Banking Group) typically rounding out the top four. These four banks hold the majority of the market, offering comprehensive retail and business banking services, though they differ in digital innovation and customer focus, says Savings.com.au, Wise, Canstar, Wikipedia.
Which asset has the higher dividend yield: CBA or NAB? NAB has a higher dividend yield than CBA, with a dividend yield of 4.00% compared to 3.02%.
You'll earn roughly $330 to $420+ per month on $100,000, depending on the interest rate (e.g., a 4% to 5% Annual Percentage Yield (APY)), with higher rates earning more, and the amount increasing slightly each month due to compound interest. For example, at a 4.2% APY, you'd get about $4,200 yearly ($350/month), while at 5%, it's $5,000 annually ($416.67/month), with actual earnings varying by bank, account type (savings, CD, bond), and compounding frequency.
There isn't one single "number one bank" globally or universally, as rankings vary by criteria (market cap, assets, trust, etc.). However, JPMorgan Chase is often cited as the world's largest by market capitalization, while China's Industrial & Commercial Bank of China (ICBC) leads by total assets. In Australia, Commonwealth Bank (CBA) is typically the largest by market cap, though Bendigo Bank has been named Australia's Most Trusted.
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