Skip to content
image for Finance and Insurance

Finance and Insurance

Are you looking for the most popular finance and insurance in Australia?

If so, you're in the right place because you can use StartLocal® to easily find local businesses.

49 Subcategories

Browse By Subcategory

More About Finance and Insurance

The financial services industry in Australia is one of the most advanced and flexible in the world. Australians enjoy the fullest possible range of financial products from the third growing sector in the economy.

There are three main providers of financial services in Australia and these are: Banks, which are full-service financial institutions with an official banking license; registered financial corporations such as money market corporations and finance companies provide financial services; and, managed funds such as unit trusts and super funds.

There are four major banks in Australia: Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia, National Australia Bank (NAB), and Westpac Banking Corporation. The Australian Government has a longstanding "four pillars" policy which prevents these four major banks from merging

Improved affordability is one of the benefits of the financial industry in Australia. Currently, many bank services are often provided free of charge. Most customers pay no account fees depending on the bank and account, as long as they are eligible for a basic account or have chosen a service that allows them to keep within transaction limits. Australian banks offer basic bank accounts to most Australians. Australian bank fees are not that high by world standards.

Banks provide basic products that would suit the needs of customers from a diverse range of groups that include small businesses, those with a mortgage, nonprofit organisations, social clubs, and private individuals.

On the other hand, the insurance market of Australia is also developed and sophisticated, with roughly three fairly distinct components: life insurance, general insurance, and health insurance. The insurance market is regulated by the Australian Prudential Regulatory Authority (APRA) for general and life insurance, Australian Securities and Investments Commission (ASIC) for advice on insurance products, and the Australian Competition and Consumer Commission (ACCC) with respect to competition law.

The main insurance industry bodies include: Insurance Council of Australia, Financial Services Council, Australian and New Zealand Institute of Insurance and Finance, Underwriting Agencies Council, and Institute of Actuaries of Australia.

Currently, the finance industry in Australia employs approximately 345,000 people. It is one of the most dynamic industries to date and accounts for approximately 8% of the Gross Domestic Product, or almost $52 billion. As a global financial centre, the Australian financial market holds an important position in global trading with its stable economy and liquid markets. The Australian dollar is also the sixth most traded in the world.



Latest Reviews

image description

25 Jun 2018

I am so satisfied with this course. It has provided me a way of working towards my financial goals. ...
Read More

Fokas Beyond

247 Coward St, Mascot, NSW
image description

David

14 Jun 2018

Great service by the team. Professional and responsive. Highly recommend them again to friends and f...
Read More

New Start Auto Finance

Suite 3, 171-173 Main St, Osborne Park, WA
image description

David

13 May 2018

We are wholesale distributors dealing with retailers. When (soon to be) ex customers have become too...
Read More

DSI Debt Recovery

PO Box 217, Beechboro, WA
image description

Travis

12 May 2018

Tash was a pleasure to deal with, everything was promptly arranged, looking forward to picking up ou...
Read More

New Start Auto Finance

Suite 3, 171-173 Main St, Osborne Park, WA

Short on time? Get three quotes from qualified tradies now.

Get three qualification-checked home services or renovation providers to compete to do your job. This is the smart way to save time and get jobs done around the house. It takes 3 minutes and 97.2% of people get a better price, a better provider and get their job done faster. Save your time for something more fun and let us do the hard work in finding you the right provider.

Level :
Points next level Rank
Back to top