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.
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).
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.
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.
The best bank account for couples or friends who both want access to the account is a joint bank account.
For 2024, 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 | |
|---|---|---|
 | Macquarie Transaction Account: Best transaction account |  |
 | HSBC Everyday Global Account: Best bank account for travel |  |
 | Great Southern Bank Home Saver Account: Best savings account |  |
 | Australian Mutual Bank Young Saver Account: Best Young Adult Savings Account |  |
| Great Southern Bank Youth eSaver Account : Best Kids Savings Account |  |
You can learn more about these accounts and how they were assessed as part of our 2024 Finder Banking Awards.
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:
Alison Banney, banking editor
"You don't need to have one bank account for everything. Finder data shows that 30% 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."
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.
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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