Australia’s big four banks not making it easy for customers to get bonus interest despite watchdog’s calls

Guardian analysis found no major bank has adopted ACCC recommendations in full – but NAB, CommBank, Westpac and ANZ say they offer in-app alerts

• Get our breaking news email, free app or daily news podcast

Australia’s big banks have not implemented several recommendations designed to help customers qualify for bonus interest rates on savings products, more than 18 months after the regulatory advice was issued.

Two in three customers of bonus accounts miss out on the headline interest rate and instead receive a far smaller base rate, an Australian Competition and Consumer Commission inquiry found in late 2023.

Sign up for Guardian Australia’s breaking news email