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ANZ Personal banking review: Will an ANZ account suit you?

Compare different ANZ accounts to suit your savings needs.

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 in the world, including in Australia, New Zealand, Pacific, Asia, Middle East, America and Europe.

ANZ Online Saver

ANZ Savings Account Offer

Use the ANZ Online Saver to access your funds 24/7. Receive high interest rate with no minimum balance.

  • Maximum Rate: 2.65% p.a.
  • Standard Variable Rate: 1.25% p.a.
  • Bonus Rate: 1.40% p.a.
  • Monthly Account Fees: $0
  • Minimum Balance: $0
  • Minimum Deposit: $0

Compare ANZ personal banking below

Rates last updated January 22nd, 2017
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
ANZ Access Advantage
Take advantage of Apple Pay by linking your ANZ Visa Debit card to an eligible iPhone and seamlessly pay for purchases with your phone.
Visa $0 $2,000 No monthly account fee when you deposit at least $2,000 per month. Other fee waivers available based on your personal situation. Open More
ANZ Access Advantage with ANZ Seniors Privilege
If you're over 60 years of age and receive Centrelink or Veteran's allowance, you can benefit from a ANZ Access Seniors Privilege.
Visa $0 $0 No monthly fee and unlimited access to ANZ ATMs Phone and Internet Banking, plus branch, cheque and EFTPOS. More
Rates last updated January 22nd, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ANZ Online Saver
Introductory rate of 2.65% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
2.65% 1.25% 1.40% $0 $0 / $0 Open More
ANZ Progress Saver
Ongoing, variable 1.91% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on the entire balance.
1.91% 0.01% 1.90% $0 $10 / $10 Open More
ANZ Business Online Saver
Introductory interest rate of 1.35% p.a. until 13 Feb 2017 reverting to a rate of 0.70% p.a. Must have a minimum of $5,000 to earn interest.
1.35% 0.70% 0.65% $0 $5,000 / More
ANZ Premium Cash Management Account
Ongoing, variable 1.50% p.a. when you link to access card from ANZ. Available on balance $500,000 plus.
1.50% 1.50% 0.00% $0 $1,000 / $10,000 More
Rates last updated January 22nd, 2017
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
ANZ Term Deposit
ANZ Term Deposit
1.65% 1.40% 1.70% 1.80% 2.00% 2.15% 2.20% 2.40% $5,000 More
ANZ Advance Notice Term Deposit
ANZ Advance Notice Term Deposit
2.10% 2.00% 2.20% 2.55% 3.20% 2.25% 2.30% 2.50% $5,000 More
Rates last updated January 22nd, 2017
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
ANZ Access Advantage
Take advantage of Apple Pay by linking your ANZ Visa Debit card to an eligible iPhone and seamlessly pay for purchases with your phone.
Visa $0 $2,000 No monthly account fee when you deposit at least $2,000 per month. Other fee waivers available based on your personal situation. Open More
ANZ Access Advantage with ANZ Seniors Privilege
If you're over 60 years of age and receive Centrelink or Veteran's allowance, you can benefit from a ANZ Access Seniors Privilege.
Visa $0 $0 No monthly fee and unlimited access to ANZ ATMs Phone and Internet Banking, plus branch, cheque and EFTPOS. More
Rates last updated January 22nd, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ANZ Online Saver
Introductory rate of 2.65% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
2.65% 1.25% 1.40% $0 $0 / $0 Open More
ANZ Progress Saver
Ongoing, variable 1.91% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on the entire balance.
1.91% 0.01% 1.90% $0 $10 / $10 Open More
ANZ Business Online Saver
Introductory interest rate of 1.35% p.a. until 13 Feb 2017 reverting to a rate of 0.70% p.a. Must have a minimum of $5,000 to earn interest.
1.35% 0.70% 0.65% $0 $5,000 / More
ANZ Premium Cash Management Account
Ongoing, variable 1.50% p.a. when you link to access card from ANZ. Available on balance $500,000 plus.
1.50% 1.50% 0.00% $0 $1,000 / $10,000 More
Rates last updated January 22nd, 2017
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
ANZ Term Deposit
ANZ Term Deposit
1.65% 1.40% 1.70% 1.80% 2.00% 2.15% 2.20% 2.40% $5,000 More
ANZ Advance Notice Term Deposit
ANZ Advance Notice Term Deposit
2.10% 2.00% 2.20% 2.55% 3.20% 2.25% 2.30% 2.50% $5,000 More

About ANZ

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.

Apple Pay 2ANZ: 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 6s, iPhone 6 or iPhone SE 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, with Kickstarter and Fancy soon accepting 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 > 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
  • Ppay 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: App Store and Apple.com
 
Login pageAccount balanceAccountsApple Pay
Log-in-anzacct.bal.anztransfer-anz1apple pay 3
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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 $2,000 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 and there are no monthly fees. There is no minimum balance requirement and you get unlimited access to ANZ 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 accounts 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.

What term deposits are offered by ANZ?

  • ANZ Term Deposit

The minimum amount required to open this term deposit is $5,000 and terms can vary in between one month and five years. You don’t have to provide any notice period to access funds in this account and no notice is required to access the funds.

  • ANZ Advance Notice Term Deposit

This term deposit offers a better rate than the 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.

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The pros and cons of banking with ANZ

Pros

  • Accounts for all. You can look forward to getting 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 even expect to find its branches in countries around the world.
  • Large ATM network. ANZ has more than 2,600 ATMs across Australia.

Cons

  • 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 click 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

Documentation required 

Applying for an ANZ account requires that you provide the following:

  • 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 2 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 5 minutes and you'll be required 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.

While considering opening an ANZ bank account, know that you’ve got a number of financial institutions from which to choose, so compare accounts offered by a few before applying.

Savings Account Offers

Learn about our information service
ME Online Savings Account

Maximum Variable Rate

3.05

Standard Variable Rate

1.30
ING DIRECT Savings Maximiser

Maximum Variable Rate

3.00

Standard Variable Rate

1.60
Bankwest Hero Saver

Maximum Variable Rate

2.65

Standard Variable Rate

0.01
ANZ Progress Saver

Maximum Variable Rate

1.91

Standard Variable Rate

0.01

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6 Responses to ANZ Personal banking review: Will an ANZ account suit you?

    Default Gravatar
    Benjamin | January 7, 2016

    Can I open an ANZ banking account in Australia as a non-resident/tourist?

      Staff
      Shirley | January 7, 2016

      Hi Benjamin,

      Thanks for your question.

      You can open an ANZ bank account if you intend to stay in Australia for an extended period of time, such as expats or migrants.

      Short-term tourist Visa holders may not be eligible and are assessed on a case-by-case basis.

      Cheers,
      Shirley

    Default Gravatar
    | October 14, 2015

    What is the interest rate for Senior or retirement account.

      Staff
      Shirley | October 15, 2015

      Hi Edward,

      Thanks for your question.

      At the time of writing, interest rates for the ANZ Advantage Pensioner was 0.25% p.a. for balances below $2,000.

      Cheers,
      Shirley

    Default Gravatar
    Nops | September 24, 2015

    Request For Information on Opening a Savings Account

    I would like to introduce myself as a permanent resident of New Zealand with foreign passport. I would like to open an online savings account to enable my Aussie share dividends to be paid into this bank account as a requirement of receiving my Aussie dividends from Aussie companies. I am also an investor in Aussie companies.

    Please kindly let me know the process and procedure to open such savings account with your bank.

    Thank you with best wishes.

    Nops.
    Auckland, New Zealand.

      Staff
      Shirley | September 25, 2015

      Hi Nops,

      Thanks for your question.

      Please note that to open an account with ANZ in Australia as a first-time customer, you’re required to present valid ID at a local branch.

      An alternative you may want to consider is to approach an ANZ branch in New Zealand and requesting that they open an Australian bank account for you using their brand relationship.

      Another alternative could be to use a multi-currency account issued in New Zealand.

      Cheers,
      Shirley

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