Congratulations to TSB, for winning Canstar’s 2026 Bank of the Year Everyday Banking Award for its great transaction accounts and excellent credit card products.
What is Canstar’s Bank of the Year Everyday Banking Award?
For our Everyday Banking Award, Canstar’s expert research team uses a sophisticated rating methodology, unique to Canstar, which compares Kiwi banks’ everyday account products, their usability and accessibility.
The methodology looks at transaction fees, account-keeping fees and interest rates. Plus, it rates the performance of banks’ credit-card products, across low-rate and rewards cards, and different spends, from $12,000 to $120,000.
Our research panel also scores each financial institution on overall customer satisfaction, covering several key areas, including customer support, value for money and range of products.
The financial institution that provides the strongest combination of products, price, features and customer satisfaction is then awarded the title of Bank of the Year Everyday Banking.
This year, our expert team researched accounts from the following financial institutions: ANZ, ASB, BNZ, Heartland Bank, Kiwibank, SBS Bank, The Co-operative Bank, TSB, Unity and Westpac.
Why is TSB our Bank of the Year Award winner?
TSB claimed our Everyday Banking Award on the strength of a well-rounded product range that covers the full scope of day-to-day banking activities.
Its Connect Plus transaction account offers zero fees and unlimited transactions. While on the credit side, its LowRate Mastercard carries an 11.95% interest rate, one of the more accessible rates available to New Zealand cardholders.
The bank’s strong performance in credit cards is why TSB is also the winner of Canstar’s Bank of the Year Credit Cards Award.
Rounding out the package, TSB’s Websaver account offers a 1% base rate with no withdrawal conditions attached, giving customers the flexibility to shift their money without affecting their returns.
TSB’s accounts
TSB currently offers two everyday banking accounts:
Connect Plus
A no-fuss everyday account. Features include:
- $0 monthly management fees
- Access to your money through EFTPOS, ATMs or online & mobile banking
- Use of NZ bank-owned ATMs for free
WebSaver
An everyday account that pays interest on your fund balance. Features include:
- $0 monthly management fees
- Access to your money through EFTPOS, ATMs or online & mobile banking
- Earn interest on all balances
- Use of NZ bank-owned ATMs for free
In addition to our Bank of the Year Award, our researchers also present Outstanding Value Awards to the everyday accounts that deliver the best levels of features, including fees, interest, customer service and support.
This year, our expert team researched everyday accounts from the following financial institutions: ANZ, ASB, BNZ, Heartland Bank, Kiwibank, Rabobank, SBS, The Co-operative Bank, TSB, Unity and Westpac.
The categories were scored according to a customer’s total journey with the account, from opening it, to using it for their regular day-to-day banking, and closing it. The best providers received our Outstanding Value Awards. This year’s winners are:
Outstanding Value Everyday Accounts:
ASB’s Everyday and Streamline Accounts
ASB’s Everyday and Streamline Accounts each win an Outstanding Value Transaction Account Award due to their fee-free structures that feature:
- $0 monthly base fees
- $0 annual Visa Debit card fee
- Control your accounts through the ASB Mobile Banking app
- The Streamline is the same as the Everyday account but works as term-loan deduction account
- Zero interest on balances
BNZ: YouMoney
BNZ’s YouMoney everyday account is again a standout in our award ratings thanks to its many innovative features:
- Connect up to two YouMoney accounts with a Flexi Debit Visa card
- Discounted personal loan and overdraft rates available for students, graduates and apprentices
- Move money quickly between accounts using a drag-and-drop feature, especially useful on the BNZ banking app
- No transaction or monthly account fees
- Pay via your phone using either Apple Pay or Google Pay
- Personalise your payees with photos or icons
- Unlimited withdrawals
- Up to 25 accounts
Westpac: Everyday Account
Westpac’s Everyday Account is again one of our winners thanks, in part, to its market-leading Airpoints Debit Card. The debit card is free for the first year, and to those under 19 years of age. It’s NZ’s only Debit Mastercard that allows you to earn Airpoints Dollars on your day-to-day spend: $1 Airpoints Dollar for every $300 spent.
Other features and tools offered by Westpac’s Everyday Account, include:
- CashNav money-management app that automatically tracks your spending patterns
- No monthly account or electronic transaction fees
- Pay via your phone using either Apple Pay or Google Pay
- Salary split: automatically move your salary into multiple accounts
- Tailored accounts for children, teens and students, new NZ residents and business owners
About the author of this page
Bruce Pitchers is Canstar NZ’s Content Manager. An experienced finance reporter, he has three decades’ experience as a journalist and has worked for major media companies in Australia, the UK and NZ, including ACP, Are Media, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. As a freelancer, he has worked for The Australian Financial Review, the NZ Financial Markets Authority and major banks and investment companies on both sides of the Tasman.
In his role at Canstar, he has been a regular commentator in the NZ media, including on the Driven, Stuff and One Roof websites, the NZ Herald, Radio NZ, and Newstalk ZB.
Away from Canstar, Bruce creates puzzles for magazines and newspapers, including Woman’s Day and New Idea. He is also the co-author of the murder-mystery book 5 Minute Murder.
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