ANZ began operations under the name of Bank of Australasia in 1835 and now rates among the top banking institutions in Australia. It now has a presence in over 33 markets throughout the world, including in Australia, New Zealand, the Pacific, Asia, the Middle East, America and Europe.
ANZ SMSF Cash Hub Account
ANZ SMSF Cash Hub
standard variable rate
ANZ SMSF Cash Hub Account
This account is for SMSF trustees to access their SMSF cash balance, to make payments and investments, and to receive income to the one account.
ANZ personal banking lets you open different kinds of banks accounts depending on your needs and goals. You can choose from everyday bank accounts, savings accounts and term deposits. The bank provides an online switching service that enables you to easily switch your accounts to ANZ and can help you open an account if you’re migrating to Australia.
If you currently hold any concessional benefits from the government, you may also be eligible for fee waivers.
ANZ's SWIFT code: ANZBAU3M
ANZ: First bank from the big four to launch Apple Pay
Apple Pay lets you buy items in shops and online with eligible apps using fingerprint ID. All you need to do is hold your iPhone SE, iPhone 6 or later model phone to the reader with your finger on Touch ID. Your card details are never shared and it's never stored on your phone.
You can also use your Apple Watch or iPad to pay for items. At this stage, you can buy items on your iPad using participating apps Kickstarter and Fancy will soon accept Apple Pay.
Setting up Apple Pay
Open the Wallet App on your compatible iPhone > Tap the + sign on the top right hand corner > Use your iPhone's camera to take a photo of the card (you can also manually enter the details) > Enter your card security code and accept ANZ's terms and conditions > Then verify your setup via SMS
Image source: Apple.com
Internet banking with ANZ
ANZ's online and mobile banking platforms give you the ability to view your statements online and check account balances, activate their cards, update personal information and transfer funds between accounts.
ANZ’s online banking system relies on the use of 256-bit SSL encryption technology to protect transfer of data. It also relies on automatic time outs. ANZ Shield provides added safety.
Notable features include:
Use ANZ’s online banking platform to transfer funds overseas
Pay bills using BPAY
The ANZ Internet Banking guarantee offers protection against unauthorised transactions
Awards that ANZ has earned
World in the 2016 Corporate Knights' Global 100 Index - Global 100 Most Sustainable Corporations in the World.
Ethibel Sustainability Index (ESI) Excellence Global - ANZ was reconfirmed as a member.
Workplace Gender Equality Agency (WGEA) - WGEA Employer of Choice for Gender Equality citation in 2016
The mobile app
Image Source: Apple's App Store
View your statements
Transaction accounts offered by ANZ
ANZ Access Advantage
You can access your money in this account using a Visa debit card at ATMs, EFTPOS terminals, online and over the phone. If you deposit at least in the account each month you don’t have to pay monthly fees.
ANZ Pensioner Advantage
This everyday account is for individuals who receive the Veterans' Affairs pension, allowance or Centrelink allowance. There are no account keeping fees and account holders get a linked Visa debit card, usable at millions of locations worldwide (including online).
ANZ Access Basic
You can apply for this account if you are an eligible concession card holder. There are no monthly fees and no minimum balance requirement. You also get unlimited access to ANZ's ATMs.
Benefits for seniors
Individuals over the age of 60 receive senior banking benefits which include unlimited branch transactions and no monthly fees charged on one nominated account.
Benefits for students
You don’t have to pay any monthly account-keeping fees for your ANZ Access Advantage account if you’re a full time student studying at an eligible Australian institution.
Benefits for children
Those under 18 years of age can apply for the ANZ Access Advantage account with no monthly fees. Children over 14 years of age can access funds in their accounts using Visa debit cards.
High interest savings accounts offered by ANZ
ANZ Online Saver
Earn interest while also receiving easy access to your money through a linked ANZ everyday banking account. New customers stand to earn a bonus rate for the first 3 months. This account does not charge any account-keeping fees and has no minimum balance requirements.
ANZ Premium Cash Management Account
This account awards you with interest on money in between investments. You can access your money as and when required via ATMs, EFTPOS terminals, phone banking, Internet banking, ANZ bank branches and BPAY. This account offers tiered interest rates.
ANZ Progress Saver
This account offers a competitive interest rate as a reward for regular saving. You can earn up to 1.95% p.a. when you make a deposit of 10 or more per month and no withdrawals. You can set up an automated monthly transfer to hit your savings goal, and enjoy $0 account-keeping fees in the process.
ANZ Progress Saver for kids
Teach your kids the value of saving by setting up a Progress Saver account that allows them to watch their savings grow from month to month. Customers under 18 enjoy no transaction fees, along with no monthly account service fees.
What term deposits does ANZ offer?
ANZ Term Deposit
The minimum amount required to open this term deposit is $5,000 and terms can vary between one month and five years. You don’t have to provide any advance notice to access funds in this account.
ANZ Advance Notice Term Deposit
This term deposit offers a better rate than the ANZ Term Deposit, but it requires you to provide at least 31 days' notice if you want to access your funds before maturity. You can open this term deposit with a minimum of $5,000 and it does not attract any account-keeping fees.
ANZ stands out by offering a unique term deposit account which pays a higher rate of interest while allowing you to give notice for when you want to make your withdrawal instead of having to wait for the account to reach maturity.
RBA rate cut: What to do with your savings Read more…
The pros and cons of banking with ANZ
Accounts for all. You can get a suitable everyday or savings accounts to match you needs, even if you’re a student or a retiree.
Global presence. While you should not have too much trouble locating an ANZ branch around Australia, you can also find its branches in countries around the world.
Large ATM network. ANZ has more than 2,600 ATMs across Australia.
Conditions for fee waivers. Some ANZ accounts, have certain criteria you need to meet to qualify for monthly fee waivers.
SMS alerts. ANZ doesn't have alerts in their standard online banking platform, nor in their iPhone apps. However, they do have comprehensive alerts system through their web app, ANZ Money Manager.
Beware: ANZ email scams
There are reports of a hoax email being sent around warning the recipient of an unknown PayAnyone transaction. The email requests that you log into a URL specified by the email, log in as per usual and to fill in responses to some standard security questions. Once you have entered these details, the site then appears to be under maintenance.
What to do if you think you've fallen victim to a scam or suspect someone is trying to scam you
If you notice any unusual activity on your account, please contact ANZ directly. Their security team is available 24/7.
Applying for an ANZ account
You can apply for an ANZ bank account online – simply by clicking on the ‘Go to Site’ or 'Open' button.
Eligibility to apply online
Bear in mind you have to meet the bank’s eligibility criteria to apply:
You must meet age requirements
You must have an Australian residential address
You must be an Australian resident for taxation purposes
Applying for an ANZ account requires that you provide the following information:
Personal details such as your name, residential address, email address, phone number and date of birth
Documents to verify your identity
What happens after I apply?
If a debit card is linked with your account, your ANZ Welcome Package (with your new card) should arrive within two weeks from the time the account was opened.
How do I close my current ANZ account?
To close your account you'll need to speak to the customer service team at ANZ directly. The process takes up to five minutes and you'll need to provide the details of your account and identity.
finder.com.au is an online comparison and information service. We will not be able to handle any closure requests.
When thinking about opening an ANZ bank account, remember that you have a number of financial institutions to choose from. Compare accounts offered by different institutions before making your choice.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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