Challenger
Kogan Money
Overview
Kogan Money is an Australian financial services company located in Melbourne, Victoria. It services customers across Australia, providing a range of banking and financial services. These include savings accounts, term deposits, debit cards and personal loans.
Advantages
Banking with Kogan Money offers customers the convenience of 24/7 online access to their accounts as well as competitive interest rates on their savings. The main disadvantage is that it does not have physical branches or ATMs which may be inconvenient for some customers who prefer face-to-face banking.
Security
Kogan Money takes security seriously and employs a number of measures to protect customer data and money including encryption technology, secure logins and two-factor authentication when logging into your account from an unknown device. Your data is safe with the Australian financial services company as they are regulated by the Australian Prudential Regulation Authority (APRA).
Customer Service
Customers can contact Kogan Money via phone or email during business hours (Monday to Friday 9am - 5pm AEST). The bank has a relatively small network of branches in Australia but its ATM network is extensive enough to provide convenient access for most customers who need cash withdrawals or deposits. Customers can also use other bank ATMs free of charge with their Kogan Money Debit Card.
Majors
Big banks with extensive nationwide networks that provide a comprehensive range of services
Challengers
Regional and international banking institutions that offer financial services