Customer-owned challenger sees dramatic rise up the YouGov ranks
People First Bank has the highest number of satisfied customers of any bank in Australia, according to YouGov’s 'Consumer bank rankings 2025’ report.
The customer-owned bank topped the satisfaction charts with a net satisfaction score of 70.4, making it the highest-rated bank among current or former customers.
It marks a dramatic step up for the mutual, which came in fifth place in 2024 under its previous trading name People's Choice Credit Union.
Revolut and Great Southern Bank followed closely with scores of 69.1 and 67.9, respectively, with other notable performers including Beyond Bank (66.9) and NAB-owned digital bank UBank (62.4).
“Consumer banking is a competitive space, with traditional institutions and digital-first banks alike vying for customers,” said Laura Robbie, chief executive of YouGov APAC and MENA.
YouGov’s ratings are based on ongoing consumer sentiment data collected through its BrandIndex and Profiles platforms. The rankings reflect both customer satisfaction and consideration, offering a dual perspective on how banks are perceived by those who have used their services and those planning to do so in the near future.
Satisfaction scores are derived from responses to the question: “Of which of the following financial services brands would you say that you are a satisfied or dissatisfied customer?” Consideration rankings, on the other hand, are based on whether consumers are “likely or very likely” to use a product or service from a financial brand in the next six months, followed by which institutions they would consider.
Top considered banks
While satisfaction speaks to past experience, consideration reveals the banks most likely to be chosen next.
Here, Commonwealth Bank (CBA) still dominates with 31.7% of financial product users naming it as a top choice, followed by NAB (22.9%) and ANZ (21.8%), showing that the Big Four lead the way when it comes to brand reach.
ING (16.8%), Bank of Melbourne (13.2%), and Bank of Queensland (13.1%) rounded out the top seven.
Most improved banks by customer satisfaction
The most striking story in 2025’s rankings is the significant improvement by Bank of Queensland (BOQ).
It posted a +16.4 point increase in satisfaction year-on-year – rising from 40.4 in 2024 to 56.8 in 2025.
This growth is likely driven by BOQ’s investment in digital services, which has resonated especially well with Gen Z and Millennials.
Citibank (+13.1) and Virgin Money (+11.3) also made considerable gains.
On the consideration front, Revolut led the field with a +3.9 percentage point rise, up from 4.8% to 8.7%. Bank of Melbourne (+3.4) and BOQ (+2.5) also saw gains.
