Best bank accounts in Australia

Bank accounts for students or young people

Westpac Choice Student

No account keeping fees full-time tertiary students and customers under 30 years old. Plus, if you're under 14 you can open the account and get a Handycard instead of a debit card.

MyState Glide Account

This account can be opened online for those aged 14 and older (not 18 as with many other accounts) and charges no account fees or local ATM 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.

Account fees

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.

Deposit conditions

If there are monthly deposit conditions to meet, make sure it's an amount that you're comfortable with.

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.

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. Thse might include 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.

Joint account options

The best bank account for couples or friends who both want access to the account is a joint account.

Back to table

Frequently asked questions

• Which bank account is best for everyday transactions?

  Bank accounts are all designed for day-to-day spending and transactions. The best one will have no fees, easy ways to access your account balance and extra features that you need.

• Can I earn interest with a bank account?

  Banks accounts typically don't pay any interest, as the account is designed for spending not saving. If you want to earn interest on your money you'll need to open a savings account instead.

• Are bank accounts secure?

  Yes, bank accounts are one of the safest places for your cash. Your deposit up to $250,000 with an Australian bank is guaranteed under the government bank guarantee scheme.

• Which account is best for a joint account?

  A lot of bank accounts can be opened as joint accounts with another person. When picking one, consider what you'll be using the account for and what features you need. For example, would spend tracking tools in the mobile app be handy for you? Or perhaps you're more interested in avoiding fees when travelling?

• What's the best account for overseas travel?

  If you travel a lot, a bank account with no international transaction fees would be ideal. These fees can be as high as 3.5% of the total transaction value per transaction, each time you make a purchase with your debit card in another currency. Avoiding these fees can save you lots of money.

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 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.

You can see what we've considered when choosing the top pick for each category below.

• Top pick for cashback offers

  We've looked at the bank accounts in our comparison panel, filtered the products for partners that Finder has a commercial relationship with, and selected the one that offered the highest-value in cashback offers.

• Top pick for budgeting

  We've looked at the bank accounts in our comparison panel, filtered the products for partners that Finder has a commercial relationship with, and selected the one that we believe offered the best tools and features for budgeting. This includes features like mobile app tools and the ability to create different accounts or 'buckets' for different purposes.

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

We're free

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're experts

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.

We're independent

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.

We're here to help

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.