Written by BOS Media Tuesday, 16 June 2015 00:00


Bank of Sydney products are proving to be just as competitive, if not more in some cases, than the major banks.

They announced today the achievement of the 5 star ratings from Canstar for their savings accounts. “In a low interest rate environment, the retail banking market is very competitive, it is worth consumers shopping around” said Julie Elliot Bank of Sydney CEO. 

"We are a clear alternative to the major banks. Our product quality and focus on relationships provides our customers with a distinct advantage” said Bank of Sydney’s CEO Julie Elliott.

“Over the past 12 months, we have seen a 19% increase in deposits as more consumers look for a better deal and our deposits have grown to over $1 billion “she commented. The Bank of Sydney EveryDaySaver Account was awarded the 5 Star rating across all five categories and also received the highest score for pricing when compared to all other financial institutions.

This account was launched in May 2013 as a unique Everyday account offering a high interest rate and special features including: $0 account keeping fees and unlimited RediATM and EFTPOS transactions.

The Bank of Sydney SmartNet Account also received its 5 Star rating in the Cash Manager category for the fourth consecutive year, and the Bank of Sydney SuperRate account received a 5 Star Rating for its high interest rate plus features. Ms Elliott added, “Personal relationships are the core of our banking approach and matched with competitive products, we aim to cement a strong foothold in the retail banking market ” CANSTAR is a highly regarded organisation that provides quality fact-based data and ratings to consumers and financial institutions across Australia.

They collect, analyse and research over 20,000 products including loans, cards, and insurances each year. Only products offering outstanding value are awarded a 5 stars award which is the highest rating available.