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Banking, Finance Investment

Australia’s leading banking products recognised in 2023 Consumer Finance Awards

Money magazine 3 mins read

Macquarie Bank has been recognised as ‘Bank of the Year’ in the 19th annual Consumer Finance Awards, published by Money.

The annual awards help Australians find the country’s leading banking and insurance providers according to Money readers.

Money magazine Consumer Finance Awards 2023

Notable award winners this year are Suncorp Bank (Business Bank of the Year), Budget Direct (Insurer of the Year), ING Bank (Money Minder of the Year) and Bankwest (Home Lender of the Year).

Suncorp, Budget Direct, La Trobe Financial, Challenger, and Generation Life all retained their awards from 2022.

This year’s Consumer Finance Awards program was based on a Money readership survey* conducted in May and June this year. Rainmaker Information analysed the survey responses to determine the winners and finalists. The life insurance awards research was also conducted by Rainmaker Information in partnership with Plan For Life.

"With COVID-19 hitting our bank balances hard, your choice of finance provider could be the difference between shaving years off your loan or wearing those mortgage boots for longer," says Michelle Baltazar, editor-in-chief of Money.

"We congratulate our winners for giving more Aussies the chance to fulfil their dreams, whether it's buying property for the first time or financing a small business, through better banking deals."

Vanessa Walker, managing editor of Money, congratulated the winners by saying, “It was good to see winners from previous years still performing at the top of our lists - it shows their commitment to looking after their customers' best interests”.

“It was also heart-warming to see new players emerge in these competitive categories. A competitive market is always going to be a win for consumers.”

The full results of the Consumer Finance Awards are published in the September issue of Money magazine, on sale from Thursday, September 7, 2023.


* The Money readership survey on banking in May/June 2023 generated 3,400 responses. This provided more than 20,000 data points on consumer banking preferences across home loans, term deposits, transaction accounts and credit cards. Banking providers were rated by Money readers based on their product suite, customer service and digital experiences. Rainmaker Information analysed the survey results to determine the winners and finalists. For some award categories, Rainmaker Information used additional proprietary research.



Bank of the Year 

Macquarie Bank 

Customer-Owned Institution of the Year 

Heritage Bank 

Business Bank of the Year 

Suncorp Bank 

Non-Bank Lender of the Year 

La Trobe Financial 

Bank of the Year - Savers 


Bank of the Year – Young People 

ING Bank 

Bank of the Year - Retirees 

Macquarie Bank 

Bank of the Year - Product 

Bank Australia 

Bank of the Year - Customer Service 

Heritage Bank 

Bank of the Year - Digital 

Macquarie Bank 

Money Minder of the Year 

ING Bank 

Home Lender of the Year 


Credit Card Issuer of the Year 

Commonwealth Bank 

Margin Lender of the Year 

Leveraged Equities 

Insurer of the Year 

Budget Direct 

Life Insurance Product of the Year 

Neos Life 

Direct Life Insurance Cover of the Year 

Tal Life 

Health and Wellness Cover of the Year 

MLC Life 

Longevity Cover of the Year 


Investment Bond Provider of the Year 

Generation Life 


Money magazine September issue

About us:

About Money magazine

Money is Australia’s longest-running, highest-selling and most-read personal finance magazine. Founded in 1999, Money magazine provides credible, independent and easy-to-understand financial information, helping readers to earn more, save more and make the most of their investments.

Money magazine is a Rainmaker Group company.

About Rainmaker Group

The Rainmaker Group was founded in 1992 and has established a reputation as a leading financial services information company in Australia providing market intelligence, industry research, media and publishing, events and consulting services.

Rainmaker produces strategic, tactical, and analytical information about the financial services industry predominantly for superannuation funds, investment managers, financial planners and consumers.

The Rainmaker Group comprises: Rainmaker Information, Financial Standard, FS Aspire CPD, SelectingSuper, SelectAdviser, Industry Moves, FS Sustainability and Money magazine.

Rainmaker Group is owned by Institutional Shareholder Services (ISS) and is part of its ISS Market Intelligence business.

Contact details:

Julian Clarkstone

P. 02 8234 7514


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