Cashback offers
Finder Award
This account offers 2% cashback on tap and pay purchases under $100 when you tap and pay using your Visa Debit Card, Apple Pay or Google Pay (T&Cs apply).
Best bank accounts in Australia
The best bank account will help you manage your everyday spending with low fees and easy access to your money. Check out our Top Picks curated by experts.
Earning interest
Earn 1.5% p.a. on your transaction account balance with no conditions to meet.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Time for a new bank account? Whether you're looking for a bank account with no account keeping fees, a cashback offer, contactless payment features or the ability to hold multiple currencies, you'll find a bunch of great options here.
Your search for the best bank account starts here
1 - 7 of 7
There's no single bank account that's best for everyone as all our needs are different – and what's best for you might not be best for someone else.
*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
Bank accounts with added features and perks
Most bank accounts are fairly similar. Here are 5 great bank accounts that offer something a bit different:
- HSBC Everyday Global bank account: Earn 2% cashback on tap and pay purchases.
- Suncorp Everyday Options bank account: Link up to 9 mini sub-accounts that earn interest.
- Citi Global Currency bank account: Hold up to 10 different currencies in a single account.
- Great Southern Bank Everyday Edge bank account: Refund international ATM fees and international card transaction fees.
How to find the best bank account for you
Consider the following features when researching your options to help you find the best bank account for you.
The account fees
It's ideal to look for a bank 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.
The deposit conditions
If there are monthly deposit conditions to meet, make sure it's an amount that you're comfortable with.
The account access options
If you like to bank in branch, the best bank account for you will likely be one that has branch access (as some online banks don't). Or, if you do all your banking on your phone, check that the bank account can be accessed via a good mobile banking app.
Overseas fees and charges
If you like to travel regularly, the best bank account for you could be one that doesn't charge overseas ATM fees and international transaction fees.
The linked savings account
If you're planning to open a linked savings account with the same bank, it's a good idea to look for one with a competitive interest rate.
Payment options
Make sure the bank account offers the payment options that you want, for example BPAY, Apple Pay, Google Pay, Samsung Pay, PayID, tap and go with Visa payWave or Mastercard PayPass.
ATM access
If you use cash and cheques, a bank account with a large ATM network and smart ATMs that accept cash and cheques might be best for you.
What does the best bank account offer?
The best bank account will usually have some or all of the following features:
- No account keeping fees, or an option to have the account fees waived
- A range of different payment options available
- Monthly deposit conditions that are easy to meet (or none at all)
- A mobile banking app or Internet banking portal to manage your account 24/7
- A linked savings account with a competitive interest rate
How to choose the best bank account
Ultimately, the right bank account for you will depend on your personal situation and how you plan to use the account. If you need more help deciding on the best bank account for you, consider the following.
- If you travel a lot: Look for a bank account with no international transaction fees or an account that lets you hold multiple different currencies.
- If you often withdraw cash from ATMs: Some bank accounts allow you to access any ATM in Australia for free.
- If you're a small business owner: The best bank account for you could be a dedicated business bank account, with access to online accounting software and tools.
- If you're a student: A student bank account will often waive all account keeping fees while you're studying.
- If you like to pay with your phone: Look for a bank account that offers Apple Pay, Google Pay or Samsung Pay.
- If you want an online bank with a great app: Digital banks offer bank accounts that are managed entirely via a mobile app with great spending features and insights into your money.
- If you want to share the account with another person: The best bank account for couples or friends who both want access to the account is a joint account.
How does Finder choose its bank account top picks?
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 (many!) account comparisons, we've assessed accounts based on a few key features that we know you care most about to bring you our picks.
You can see what we've considered when choosing the top pick for each category below.
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.
More guides on Finder
-
5 tips to overhaul your bookkeeping [SPONSORED] Get your bookkeeping process down pat and you’ll spend less time on admin while reaping more rewards.
-
Life Lessons With MAFS King Jack Millar
Sal & Al 'grill' Jack about his time on MAFS and chat about what's next for the reality star.
-
Top 10 TV shows in Australia this week and where to watch them
The final season of Peaky Blinders is now streaming. What are you watching this week?
-
What are warrants and should they be part of your investment strategy?
Warrants can help investors manage risks, diversify holdings and build long-term wealth – investment expert Elizabeth Tian explains how they work.
-
5 best ways to invest money in Australia in 2022
What's the best way to invest money in Australia? Find out about robo advisors, index funds, cryptocurrency and more in this guide.
-
Case study: Top entrepreneur on benefits of business cards
SPONSORED: Australian businesswoman shares words of wisdom on cash flow, company credit cards and true crime.
-
FishMe! discount codes June 2022 | $10 off your first order
Check out the latest FishMe! deals and discount codes right here and see how much you could save on your favourite seafood platters online today.
-
vPost promo codes June 2022 | 15% off your first shipment
Check out the latest vPost deals and promo codes right here and see how much you could save on shipping at your favourite international stores today.
-
End Of Financial Year sale 2022: How to get the best deals
Here are 5 expert shopping tips to guide you through this year's end-of-financial-year sales.
-
Best electricity and gas providers in Victoria
We've curated a list of best electricity and gas providers in Victoria.
Ask an Expert
Can a non citizen open an account under this scheme?
Thanks
Hi JYK,
Each bank has its own eligibility criteria, however, in most cases, you will need to be an Australian citizen with an Australian residential address to open a bank account here.
Best,
Alison
It’s all twisted. I didn’t get $100 for as infinite up to HSBC bank. It’s a scam.
Hi Ben,
I’m sorry to hear you’re having an issue with accessing the $100 cash bonus. As a first step, please ensure you’re meeting the eligibility criteria for this bonus. This bonus is for new HSBC customers when you open an Everyday Global Account before 30 April 2022 and deposit $2000 or more each month for 3 consecutive months within 6 months of opening your account.
If you’ve met all the above criteria, please get in touch with HSBC directly to raise this issue with them.
Hope this helps,
Alison
i need help from up bsnk
Hi Mahdi,
You can seek assistance from Up by using “Talk to Us” in the Up app. You can also call them on 1300 002 258 or send them an email at support@up.com.au.
Best,
Alison
whats better than ubank ultra. i would particularly like more than one transaction account attached to a savings/investment account, to manage special payments. ubank allows only one.
Hi Melmoth,
The better option would still depend on your requirements as a customer and current circumstances. Although we cannot recommend a specific brand, you could check out the options available on this page: https://www.finder.com.au/bank-accounts. Some of the bank accounts listed specified the number of sub accounts you can link to it. For other brands that did not indicate this, you can visit their websites to check or reach out to them directly.
I hope this helps!
Thanks,
Alison