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.
We currently don't have that product, but here are others to consider:
How we picked theseWe assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.
Most bank accounts are fairly similar. Here are 5 great bank accounts that offer something a bit different:
Consider the following features when researching your options to help you find the best bank account for you.
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.
If there are monthly deposit conditions to meet, make sure it's an amount that you're comfortable with.
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.
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.
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.
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.
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.
The best bank account will usually have some or all of the following features:
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:
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Now is the best time to start looking at the new bank account offers and promotions available. There is fierce competition between banks for your business so you should take advantage of this opportunity and get yourself a deal.
Consider opening a cash management account if you want easy access to a portion or all of your savings, and earn interest along the way.
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.
When used wisely, a debit card provides you with great flexibility when it comes to handling your everyday financial needs.
ME Bank is an online bank that offers a high interest savings account and fee-free everyday bank account. See ME's accounts and latest rates here.
