The Commonwealth Bank has captured the attention of nearly one in three Australians (31.7%), positioning itself as the leading choice for those contemplating a switch in banking providers. Following closely are National Australia Bank (NAB) with 22.9% and ANZ at 21.8%, completing the top three banks most likely to attract new customers.
The report underscores CBA's broad appeal, noting that it leads consideration among both men and women across various age demographics. This widespread appeal is a testament to the bank's robust reputation and extensive service offerings.
In a statement accompanying the release, a spokesperson from CBA remarked, “We are delighted to be recognised as the leading choice for prospective customers. Our commitment to innovation and customer service remains at the core of our operations.”
While traditional banks continue to dominate the consideration rankings, the report also highlights the inroads being made by digital-first banks. Revolut, in particular, recorded the strongest year-on-year improvement in consideration, with a notable increase of 3.9 percentage points. Bank of Melbourne and Bank of Queensland also showed significant gains, with increases of 3.4 and 2.5 points, respectively.
A spokesperson for Revolut expressed optimism about the future, stating, “Our focus on providing seamless digital experiences is resonating with customers. We are thrilled to see such positive momentum in the Australian market.”
The report further identifies a young, digitally engaged demographic driving this growth. With 62% of Australians likely to use a financial product or service in the next six months, the majority of these individuals are aged between 25 and 44. Moreover, 61% of this group express interest in holding multiple bank accounts, reflecting a trend towards diversified financial portfolios.
Mobile banking is a significant part of their daily routines, with 34% using a smartphone or tablet for online banking at least once a day, and 35% doing so several times a week. This digital engagement is a crucial factor for banks aiming to capture the attention of this tech-savvy audience.
In terms of customer satisfaction, People First Bank has emerged as the leader, boasting a net satisfaction score of 70.4 among current and former customers. Revolut follows closely with a score of 69.1, while Great Southern Bank rounds out the top three with 67.9.
The Bank of Queensland also made headlines for recording the strongest improvement in customer satisfaction, particularly among younger customers, with a remarkable 16.4-point year-on-year uplift.
A representative from People First Bank commented on their top satisfaction ranking, saying, “Our customer-centric approach is the cornerstone of our success. We are proud to lead the satisfaction rankings and remain committed to delivering exceptional service.”
The Australia Consumer Bank Rankings 2025 draw from YouGov BrandIndex data collected over a year-long period from September 1, 2024, to August 31, 2025. The satisfaction rankings are based on responses from current and former customers, while consideration rankings are derived from those who indicated they are likely to purchase a financial product in the next six months.
These insights are further enriched by consumer profiling data from YouGov Profiles+ Australia, offering a comprehensive view of the financial product intender segment, which comprises respondents likely to use a product or service from a financial services brand in the near future.
As the banking landscape continues to evolve, these rankings provide valuable insights into consumer preferences and the shifting dynamics between traditional banks and digital challengers in Australia.
