Transaction Account RatingsNeed some help? Checkout our Transaction Accounts Guide
Transaction Account Ratings
When you are comparing transaction accounts but are unsure as to which one you should sign up with, make sure you do a comparison of profiles to help you make the right choice.
There are two profiles to choose from. High transactor (35 transactions a month) and low transactor (10 transactions a month). Once you have made this selection, you can view the star ratings assigned by CANSTAR CANNEX. These star ratings reflect value for money. This does not necessarily imply that transaction accounts will have the highest interest rates because star ratings take into account many different factors. These include:
- Fee structure: how low the fees are and how complicated or easy their structures are for customers to understand?
- Interest rates: not only if they offer a high interest rate but also whether they are consistent. A transaction account will not be rated well if the interest rate continually changes dramatically and constantly.
- Customer service: how friendly and helpful customer service is in terms of how long you have to wait to speak to someone, if they were able to answer any of your questions clearly and how long it took? Also, how you receive this customer service communication, whether it is a call centre or an email or by post.
- Features: what features does the account include such as internet access, branch facilities, a debit card or a debit MasterCard or Visa card?
Compare some of the best transaction accounts rated by CANSTAR CANNEX from the table above.
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Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Read our detailed disclosure here.
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