What’s the best student bank account in Australia?

What is a student bank account?

There aren't many bank accounts these days that are specifically designed for students. Instead, students can open any regular personal bank account, provided they meet the eligibility criteria.

Some bank accounts do offer a few extra benefits for students, for example discounts at partnering brands and waived
account fees.

• Best student bank account: Macquarie Bank Transaction Account
• Best student bank account for travelling: HSBC Everyday Global Account

Finder Score	Monthly fee	Own network ATM fee	International transaction fee	International ATM Fee
Best student bank account
Finder score 9.7Excellent Macquarie Bank Transaction Account Finder AwardApple PayGoogle Pay	Finder score 9.7Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Earn 2.25% p.a. interest on your transaction account balance. T&Cs apply.	View details Compare product selection Compare	loading	Why we like it The Macquarie Transaction Account is one of the best bank accounts in the market if you're wanting to also earn interest on your balance. Your bank account balance will earn 2% p.a. interest with no conditions to meet, helping you save more money. It also has no account keeping fees, no international ATM fees and pays a refund on any local ATM fees charged. Pros & cons Pros Earn interest on your balance No ATM fees No international purchase fees No monthly account keeping fees Convenient on-the-go banking with the mobile banking app Cons No branch access
Best student bank account for travelling
Finder score 9.3Excellent HSBC Everyday Global Account Finder AwardApple PayGoogle Pay10 Currencies	Finder score 9.3Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Earn 2% cashback on tap and pay purchases. T&Cs apply.	View details Compare product selection Compare	loading	Why we like it The HSBC Everyday Global Account is one of the best bank accounts for travelling. It has no account keeping fees, no international transaction fees and access to free ATMs around the world. You can hold up to 10 different currencies in the one account, which allows you to top up on a currency while the exchange rate is good, then spend in that local currency while you're overseas. Plus, earn 2% cashback on tap and pay purchases (T&Cs apply). It won the 2026 Finder Award for Best Global Debit Card. This could suit you in you're an international student and you regularly travel between Australia and another country. Pros & cons Pros Earn 2% cashback on tap and pay purchases under $100, up to $50 in cashback per month (subject to terms and conditions) $0 monthly account fees and international account fees Buy, hold and spend in up to 10 currencies with the HSBC app Apple Pay and Google Pay available Cons You can only pre-load up to 10 currencies Fees apply to deposit foreign currency notes into the account

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How to compare student bank accounts

Look for the following features when you're choosing the right bank account as a student.

No account keeping fees

Look for an account with no monthly account keeping fee. Or, if there is an account keeping fee, sometimes this will be waived for students.

No ATM fees

You can use most Australian debit cards to withdraw cash at a big 4 bank ATM (Westpac, ANZ, NAB or CommBank) without being charged a fee by the ATM operator. However, check what the ATM fee is when you use an ATM outside of these. If you use ATMs a lot, it's probably best to look for an account that rebates all ATM fees or has a large ATM network of its own to use.

No international transaction fees

If you travel often (this could be the case if you're na international student) or you regularly shop online from international retailers, choosing an account with no international transaction fees will save you a lot of money. These fees can be as much as 3% or 4% of the transaction value, every time. So it's worth looking for an account that doesn't charge these.

Savings interest rate

Bank accounts don't often offer any interest on your balance. If you want to earn some interest on your cash, look at what rate is offered with the bank's linked savings account.

Various payment options

Check the account offers the payment options you use the most, such as cardless cash, BPAY, tap-and-pay, Google Pay, Apple Pay or PayID.

Easy account access

Make sure the account offers a mobile banking app as well as internet banking. An app allows you to instantly access your account anywhere, anytime and monitor your transactions in real time.

Extra perks

Does the account offer any extra perks, such as a cash back offer or the ability to collect points? Some acounts will offer special benefits for full-time students, like discounts at partnering brands. These aren't mandatory when choosing an account, but they're definitely nice to have.

How do I apply for a student bank account?

You'll need the following forms of ID:

• Australian residential address and phone number
• Australian Tax file Number (or Tax Exemption)
• Two forms of ID (either a Medicare card, Passport, Australian driver's license or proof of age card)

Different accounts will have different age requirements. Some will allow you to open an account online in your name while you're under 18, others will require you to be 18 or older. If you're under 18, you may be able to open the account with your parent or guardian as the official account signatory.

Frequently asked questions

• What's the difference between a student bank account and savings account?

  A bank account is designed for everyday spending and comes with a debit card. It's also where you can receive regular deposits like your pay, and pay regular bills. A savings account is designed for saving, so it doesn't come with a debit card and instead offers interest on your money when you continue to grow your balance. It's a good idea to have both accounts.

• How can I set up a kids savings account?

  Depending on the age of your child, they can either open a kids savings account in their own name or you may need to open the account in your name on their behalf.

• Are the big 4 banks the best?

  The big 4 banks (Westpac, CommBank, ANZ and NAB) are the biggest banks in Australia, but this doesn't necessarily mean they're the best. In fact, a lot of the smaller banks offer accounts with less fees and better interest rates. The Big 4 do have the most bank branches and ATMs. It depends what features you're looking for in an account.

• Can I open a bank account at age 17?

  Yes, some banks will allow you to open an account in your name at age 17. In fact, some will allow children as young as 12 or 14 to open an account in their name.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 668 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living