Savers like to spread their deposits around
Savers are spreading their deposits around rather than putting all their money in one bank or other deposit-taking institution.
According to Roy Morgan Research, customers hold an average of 53 per cent of their deposits (transaction, savings and term deposit accounts) with any one institution. Four years ago the average was 55 per cent.
Commonwealth Bank does best, with 60 per cent of its customers' deposits; NAB captures 55 per cent; ANZ has 52 per cent; and Westpac has 48 per cent. ING Direct is at the bottom of the table with a 40 per cent deposit wallet share.
Building societies overall have a 59 per cent deposit wallet share and credit unions have a 55 per cent share.
Source: Banking Day