- Google Pay, Apple Pay
- Monthly fees: $0
- No international transaction fees
- Up to 10 currencies

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Your bank account is at the center of your finances, so it's important to find one that works for you. The right bank account can help you manage your day-to-day expenses, pay your bills, receive your salary or wages and let you make purchases where and when you want all over the world using your own money.
You can compare a range of bank accounts in this guide and open one online for free in minutes. Plus, you'll be glad to know that your deposit up to $250,000 in an Australian bank account is guaranteed by the Australian government, so your money is in safe hands.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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A bank account is a deposit product that holds your money. Bank accounts are offered by banks, credit unions, building societies or other financial institutions. You can get your salary or wages deposited into your bank account directly by your employer, which you can access whenever you want by withdrawing the cash from an ATM, making EFTPOS purchases with the linked debit card or paying your bills.
When starting your bank account comparison, consider the following features to make sure you choose the right bank account for you.
Look for an account that charges no or low monthly account keeping fees. Or, if there is an account keeping fee, you can often get the fee waived by depositing a certain amount of money into the account each month.
If the account does require your to meet a monthly deposit requirement (this can be anywhere from $200 to $2000 a month), make sure it's an amount that you can easily meet each month.
Will you be charged an ATM withdrawal fee to access your cash? Don't forget to check the overseas ATM withdrawal fee, too, as this can be quite high with some bank accounts.
If you travel a lot or regularly shop online from overseas retailers, check what the international transaction fee when comparing bank accounts. Some bank accounts don't charge an international transaction fee at all, and other will waive this fee if you meet certain deposit conditions.
If you want to link a savings account to your bank account with the same bank, check what interest rate you can earn with the savings account. If you're trying to save money, the more interest you can earn on your savings account, the better.
If you want to make contactless purchases with your phone, check that the bank account supports Apple Pay, Google Pay or Samsung Pay.
If you're looking for a bank account that you can share with another person (for example your partner), make sure you check if the account can be opened as a joint account.
You can open a new bank account online in a matter of minutes. Here's how to open a bank account in 5 steps:
HSBC Everyday Global Account
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases (T&C's apply).
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.
A bank account and a savings account are two different types of accounts that serve different purposes. A bank account is a transaction product that is designed for daily use to buy things in stores, take more out from ATMs, pay bills, transfer money to friends and receive your salary or wages. A bank account comes with a debit card but doesn't pay interest on your money.
A savings account is another account that you can link to your bank account. A savings account does pay interest on the money in the account, as it's designed to help you save. It doesn't come with a debit card as it's not meant to be used as a transaction account for purchases.
Need a bit more help choosing a bank account? The right bank account for you will depend on how you plan to use the account and what you're looking for.
Alison Banney is the banking and investments editor at Finder. She has written about finance for over seven years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.
It's common to have a few different bank accounts that each have a different purpose. Here's how you may benefit from having multiple bank accounts and the traps to avoid.
An everyday transaction account with no account keeping fees and access to Apple Pay, Google Pay and Samsung Pay.
Earn a market-leading bonus interest rate if you're under 30, and when you meet the account conditions. Learn more about the Westpac Life account and apply online.
Earn a fixed interest rate on a wide choice of terms with a Gateway Bank personal term deposit.
Earn a competitive fixed interest rate on a 3 or 6 month Citibank term deposit when you invest $10,000 or more.
The 86 400 savings account offers a high bonus interest rate and charges no fees. You'll get notification reminders when you're not on track to earn the bonus interest, but you need an 86 400 Pay account.
Earn a competitive interest rate plus bonus interest when you roll over your deposit into a new term deposit. Terms from 3 months to 5 years. No fees.
A bank account with no account-keeping fee and a suite of premium digital features, like mobile payments solutions to suit any OS, plus a Savings Top Up feature. Receive rebates on overseas and overdrawn fees when you meet certain deposit and transaction conditions.
Find out what you need to know about new digital bank 86 400. Full review of the Pay and Save account including fees and benefits.
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Three people representing a large group of retired people are looking to open a special account to collect money for a specific purpose. The group is not an incorporated association.
Is it possible to open an account on-line with the three members living in different areas in Australia?
Hi Paul,
Thanks for your comment and I hope you are doing well. We have a page that shows bank accounts for a group who collects money for a specific purpose and it is about COMMUNITY ACCOUNTS.
As it says on the page, “These accounts are designed for Australians who want to passively make their own contributions for the greater good.”
On the page, you will find a table that compares the features and benefits and fees. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to compare community accounts is also stated on the page. You can also click the compare box beside each savings account option and compare up to 4 options side by side for faster comparison. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of the chosen account before applying. You may also contact the bank should you have any questions about their product.
Best,
Nikki
Which banks do not charge unpaid payment fee?
I am using CommBank now and I am really unhappy they charge me unpaid payment fee so I want to change my card.
Hi Shuo,
Thank you for getting in touch with Finder.
Sorry to hear your experience. Please note that the unpaid payment fee/dishonor fee occurs when you set a payment schedule and your account has insufficient amount for that, and even if you change banks you may still experience being charged with the said fee if you forget to put some money on your scheduled payment. It is important that you check your account’s balance from time to time and if there’s a scheduled payment, it is a good idea to get in touch with your bank on how you may prevent this type of charge.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
hi
i am 16 years old and i have a casual job that pays about 13$ an hour and i work for about 8-10 hrs a week sometimes more.
Can you please tell me the best bank i should go with, eg interest rate, credit/bonus interest or superannuation, im not sure what exactly they mean but i was hoping you can tell me which bank account i should go with eg ANZ, Commbank, Westpac, NAB or anything else
can you also tell me the difference between debit, mastercard, visa or credit card and which i can get, (i am 16 years old)
thanks
Hi Magid,
Thanks for reaching out.
You can read our guide on savings account for some basic information you need to know.
A debit card is a card that is tied directly to your checking account and you can use the card to a store and make a purchase. That would mean purchases would be drawn directly out of your own funds/checking account.
A credit card is a card issued by a bank that allows you to borrow money in such a way that the bank finances the purchases you make at a store. A credit card will charge you interest if you do not make your payment on an agreed date with the bank.
Visa and Mastercard provide the technology and networks required for processing card payments.
Our comparison table with a list of savings accounts will help you choose which account suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope that helps,
Joanne
How do I delete an account I accidentally made ?
Hello Jess,
Thank you for your inquiry. Just would like to confirm if you mean a “bank account”?
If you are, you may contact the bank or the financial institution concerned so that they can initiate the closure.
Hope this helps.
Cheers,
Jonathan
You mention that some banks have a feature to round up the spare change from debit card purchases and automatically sweep that change into a savings account. When I click on the link, there is no filter for this feature. Which banks offer this facility?
Thanks
Hi Encea,
Thank you for your inquiry.
I believe you’re referring to automated savings. If this is the case, you will love reading our guide, “Round up savings accounts and apps.” On the same page, you’ll be able to compare bank accounts with special savings features.
I hope this information has helped.
Cheers,
Harold
Hi i have a new account with bank sa what id the maximum daily funds transfer amount to s third party bank sa account
Hi Nae,
Thanks for your question.
If you are transferring to somebody else’s account within BankSA via Internet Banking, there is a cumulative limit of $5,000 per account per day with a maximum limit of $25,000 per day. For example, if you are transferring to 5 different accounts, you may transfer $5,000 to each account per day.
You can also increase your daily limit to $100,000 by completing the Internet and Phone Banking Payee Account Information form found on BankSA website. It normally takes up to 2 business days for the form to be processed.
Cheers,
Anndy
please help me with National Australia Savings Bank
Hi Joseph,
Thanks for your question.
How can we help you today with National Australia Savings Bank? :)
I’m travelling to Phuket, Thailand do Wednesday morning and will be needing to access some funds on my debit anz bank card, but I am unsure of the cost of fees that I explained be charged to get money out. Any information would be greatly appreciated. I have rung and asked the same question to an anz team member but they sent me an email which did not advise of the cost of fees.
Hi Scott,
Thanks for your question.
Assuming that you’re referring to the ANZ Access Advantage, here are the fees:
Overseas transaction fees – 3% of value (charged whenever you transact in a currency other than AUD)
Overseas ATM transaction fee – $5 (charged when you withdraw from a non-Aussie ATM)
Local ATM transaction fee – $Varies (charged by the ATM you’re withdrawing from, fee is decided on a case by case basis)
Hope this helps.
Can I do cardless cash
Hi Boahjunor,
Thanks for your question.
Yes, you can apply for an account that support cardless cash. You can compare debit cards with cardless cash and learn how to use cardless cash in this guide. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
Cheers,
Shirley