Customers vote for ING Direct & Heritage Bank

None of the big four rank in the top 10 when it comes to Australia's preferred bank, new research shows. Commonwealth Bank, Westpac, National Australia Bank and ANZ are all outranked by their smaller rivals.

ING Direct is number one, according to more than 3,500 customer reviews, followed by Heritage Bank and ME Bank. Other top-10 banks include Bendigo Bank, Bank of Cyprus and Macquarie Bank.

Commonwealth Bank is the largest holder of deposits with more than $344 billion on its books, and Westpac has issued the greatest volume of loans at $405 billion, data from the Australian Prudential Regulation Authority shows. ING Direct holds just $29 billion in deposits and $41 billion in loans.

Source: Business Spectator