Best bank accounts

The best bank account in Australia could help you manage your everyday spending with low fees and easy access to your money. Check out our expert curated Top Picks and make a better decision today.

Cashback offers
Finder Award
This account offers a $100 cash bonus for new HSBC customers plus 2% cashback on tap and pay purchases (T&Cs apply). It's rare for an account to offer a cash bonus at all and this account has two different offers.
Big 4 bank
The only bank account offered by a Big 4 bank with no monthly account keeping fee and no deposit conditions to meet. This may suit you if you want to avoid monthly fees but you don't want to commit to an ongoing deposit requirement.

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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. If you're after a bit of help deciding which account may suit you, see a few of our expert picks above.

Your search for the best bank account starts here

Name Product Contactless Payments Instant Payments ATM Withdrawal Fee Monthly account fee
HSBC Everyday Global Account
Google Pay, Apple Pay
PayID
$0
$0
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.

NAB Classic Banking
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
Virgin Money Go Account
Google Pay, Apple Pay, Samsung Pay
Osko, PayID
$0
$0
Special offer: Welcome bonus of 5,000 Virgin Money Points (T&Cs apply).
$0 monthly account fee.

A transaction account that gives you Virgin Money Points on your everyday spend, access to perks and rewards. Plus, earn a competitive bonus interest rate on your Virgin Money Boost savings account.
Great Southern Bank Everyday Snap Account
Osko
$0
$0
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
Suncorp Everyday Options Account
Google Pay, Apple Pay
Osko, PayID
$0
$0
Link up to 9 interest-earning sub accounts.
$0 monthly account keeping fees.
Earn interest on your linked sub accounts to help you save for individual goals, with no account fees to pay. Make contactless payments using Google Pay and Apple Pay.
Citi Global Currency Account
Apple Pay, Samsung Pay
Osko, PayID
$0
$0
Earn up to 0.75% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
Great Southern Bank Everyday Account
Osko
$0
$0
Enjoy flexible payment options and access to a wide network of ATMs.
$0 monthly account fee.
Access to Google, Samsung and Apple Pay. Enjoy fee-free cash withdrawals from 10,000+ ATMs across Australia.
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Compare up to 4 providers

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:

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 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 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

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2 Responses

    Default Gravatar
    melmothSeptember 13, 2021

    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.

      Avatarfinder Customer Care
      AlisonSeptember 25, 2021Staff

      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

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