In a highly competitive market, one bank stands above the rest when it comes to everyday banking accounts: BNZ, which is celebrating back-to-back victories as the winner of Canstar’s 2021 award for Bank of the Year | Everyday Banking.
Canstar’s Everyday Banking Award uses a sophisticated rating methodology, unique to Canstar, which compares Kiwi banks’ everyday products and their usability and accesibility.
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 $60,000.
BNZ’s impressive second consecutive win is due, in part, to its market-leading fee-free Everyday Account, which is supported by BNZ’s strong digital banking network.
The high-reward return on the BNZ platinum credit card earns the bank a market-leading position for rewards in the $24,000 and $60,000 spend fields. This is in addition to the BNZ’s robust suite of credit cards for both debt revolvers and reward-point hoarders, all supported by the major bank’s network.
Although they didn’t win this year’s award, both Westpac and Kiwibank also rate highly in this year’s awards.
Westpac has a market-leading Everyday Account, which comes with zero fees and rewards for spend. The bank also offers great frequent-flyer cards in the $24,000 and $60,000 spend brackets.
Kiwibank also scores well for its credit cards. For those who like to use their credit card for all daily purchases, the bank’s reward card is a standout performer, particularly for $60k per annum spends. Also, Kiwibank’s frequent-flyer cards earned special mention from Canstar’s expert judging panel for their great rewards.
However, it’s BNZ that, once again, takes home our top award. So, congratulations, BNZ, for winning Canstar’s award for Bank of the Year | Everyday Banking 2021!
For more information on our everyday banking and savings account star ratings and BNZ’s win, just click on the button below:
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