How to compare bank accounts
If our top bank account picks aren't right for you, here's what features to consider when you compare bank accounts.
Look for a transaction account with no monthly account-keeping fees. If there are account fees, ask yourself if there are any extra features with the account to justify the fee as most accounts don't charge one.
Most bank accounts don't have a monthly deposit requirement. If there are monthly deposit conditions to meet, make sure it's an amount that you're comfortable with.
Account access options
Most of us want to bank online these days, with 98.9% of banking interactions taking place digitally according to the ABA. However if you still like to bank in branch, the best bank account for you will likely be one that has branch access (as many online banks don't).
Overseas fees and charges
If you like to travel regularly, the best transaction account for you could be one that doesn't charge overseas ATM fees or international transaction fees.
Linked savings account
If you're planning to open a savings account with the same bank, it's a good idea to look for one with a competitive interest rate.
Make sure the bank account offers the payment options that you want. These might include BPAY, Apple Pay, Google Pay, Samsung Pay, PayID, tap and go with Visa payWave or Mastercard PayPass.
If you use cash and cheques, a transaction account with a large ATM network and smart ATMs that accept cash and cheques might be best for you.
Joint account options
The best bank account for couples or friends who both want access to the account is a joint bank account.
Finder 2023 best banking awards
For 2023, Finder money experts picked the best banking products across savings and transactions accounts. Here are our winners for the best bank accounts and savings accounts in Australia:
|Bank||Bank account awarded||Account features|
|Macquarie Transaction Account:|
Best transaction account
|HSBC Everyday Global Account:|
Best bank account for travel
|ING Savings Maximiser:|
Best savings account
Best bank account for customer satisfaction
You can learn more about these accounts and how they were assessed as part of our 2023 Finder Banking Awards.
Methodology: How does Finder choose the best bank accounts?
At Finder, we've been comparing bank accounts for more than a decade. Using the product data we've collected, ongoing consumer testing, customer surveys and many account comparisons, we've assessed accounts in our panel based on a few key features that we know you care most about to bring you our picks. While we haven't looked at all accounts in the market, we're confident our picks are strong offers.
Specifically, here's how we determine each of our top pick recommendations:
🔥 Quick tip when choosing a bank account
Alison Banney, banking editor
"You don't need to have one bank account for everything. Finder data shows that 40% of Australians have bank accounts with multiple different banks, and the main reason why is for convenience. For example, you might find it's best for you to open one bank account for your day-to-day spending and bills, and a separate bank account to use when you travel."
Frequently asked questions
We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But Finder may receive compensation when you click links on our site. Learn more about how we make money from our partners.
Why you can trust Finder's banking experts
Our comparison tables are completely free to use. We link you directly to the bank's secure application page. On a daily basis we update the rates, fees and conditions of the 200+ accounts on our database.
We've researched and rated hundreds of accounts for our Finder Awards. We've published 100+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.
Unlike other comparison sites, we're not owned by a bank or lender. That means our opinions are our own and you can compare nearly every bank account in Australia on Finder.
Since 2015, we’ve helped over 1.3 million Australians find an account. We'll never ask for your personal information. We're here to help you make a decision.
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