(Another) New Savings Comparison App Looking for Feedback

AssociatedLbanksiaDev @ banksia.finance on 01/11/2025 - 22:15
Last edited 03/11/2025 - 09:30 by 1 other user

Hi all,

A fellow OZB member kindly posted a link to my site on a different thread before I'd even had a chance to post it here - thought I'd jump on it.

I’m Thomas, the developer behind a small web app called Banksia that compares high-interest savings accounts from Australian banks. I've been building this in my spare time for about 6 months now.

It’s just a proof-of-concept right now – I have tried to focus initially on some of the shortcomings of the existing comparison tools like the dearly beloved accounts spreadsheet (e.g. no sponsored content, mobile-first, automatic updates etc).

The biggest thing I'm currently working on is improving the accuracy of the reported headline rate(s) - you can read about how I generate these figures on the info page & why it's a challenge.

Banksia is free to use – would really appreciate any feedback or feature requests.

www.banksia.finance

(no affiliation with banksiafinance.com.au, a home loan/brokerage service).

Financial Bank Account Savings Account

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Comments

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  • finbar on 01/11/2025 - 22:54
    +1

    Welcome to Ozbargain Thomas. I hope many others find your website helpful. Well done on your effort.

  • tenpercent on 01/11/2025 - 23:12
    +1

    Where is your privacy policy?

    What is your revenue model?

    • AssociatedbanksiaDev @ banksia.finance on 02/11/2025 - 07:08
      +1

      Good questions.

      No revenue model at this stage - would rather build something that people actually find helpful first.
      Might explore revenue in the future but want to avoid any sponsorship or similar model that would influence accuracy/impartiality of results & information.

      I'll look to into adding a privacy policy.

  • tenpercent on 01/11/2025 - 23:15
    +1

    Feedback:

    1. on this page https://www.banksia.finance/accounts including a "no age restriction" filter would be handy.
    2. no ING accounts listed?
    3. otherwise looks good and much more intuitive than that other site that was shared yesterday
    • AssociatedbanksiaDev @ banksia.finance on 02/11/2025 - 07:12

      Yeah not sure why ING has dropped off… actively looking into it!

  • Anthonese on 02/11/2025 - 00:20
    +1

    Welcome, FYI the link in your post to your site doesn't work (sends the user to https://www.ozbargain.com.au/node/banksia.finance)

    • AssociatedbanksiaDev @ banksia.finance on 02/11/2025 - 07:08

      Oops! Thanks :)

      • Anthonese on 02/11/2025 - 17:16

        And the other link in your post (at the bottom) still does the same

  • KangaDrew on 02/11/2025 - 06:04

    Immediate feedback for me is the colour palette. Green on black/grey is never a suitable choice for readability.

    Great idea and looks promising, but I'm immediately turned off from using it because of that.

    Also, what's the purpose behind creating an account? As mentioned above - no Privacy Policy?

    • AssociatedbanksiaDev @ banksia.finance on 02/11/2025 - 07:11

      Thanks for feedback on the colour scheme. I'm working on a 'light' mode that might assist - or are you talking about a different variation of a dark mode?

      Creating an account allows a user to save/favourite accounts and 'optimisation strategies' to refer to later, as well as receiving a 1x per month update on any account/rate movements.

      I'll look to add a privacy policy relating to the creation of an account.

      • KangaDrew on 02/11/2025 - 08:55

        Yeah, if you're treating this as a dark mode view, I'd be changing it from the green text. There are plenty of guides and resources online for best practice when it comes to creating a suitable colour palette that's easily readable.

  • zathras on 02/11/2025 - 11:47
    -1

    Looks good so far…. I like it.
    Maybe add a filter to confirm the ADI is covered under the FCS?
    https://www.apra.gov.au/list-of-authorised-deposit-taking-in…

    • finbar on 02/11/2025 - 13:13

      Every bank and credit union in Australia is covered.

      • Anthonese on 02/11/2025 - 17:18
        -1

        Yes but would be good to note that if the account recommended is a subsidiary of another financial institution, the ADI limit of $250k applies across the customer's entire holdings with that institution, including all subsidiaries (e.g. BOQ —> me bank, Virgin Money). In which case it is probably best to split it. OP should include maybe a warning prompt where this is detected

  • peteru on 02/11/2025 - 14:09

    One thing I'd like to see is which accounts/banks support virtual cards for personal use. Single use and restricted cards that you can create as required.

  • bestcake on 02/11/2025 - 16:27

    Nice work, I'd like to see an additional filter for the grow balance requirement

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