mobile banking

Compare bank accounts with mobile banking

Pay bills, transfer funds and or find the closest ATM through your mobile banking app.

Mobile banking lets you do a range of banking tasks without visiting a branch or logging onto a computer. Most mobile banking applications or apps allow you to keep track of your finances on the go with a range of features and services. Common banking app features include finding the closest ATM, branches or bank locations, paying bills, transferring funds to other accounts as well as online investing tools and calculators.

Bank Account Offer

NAB Classic Banking

Bank Account Offer

Impressive digital perks. $0 monthly account fee. Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone. Temporarily block your card at the touch of a button if you lose it.

  • Account keeping fee: $0.00
  • Linked debit card: Visa
  • ATM withdrawal fee: $0.00
  • Overseas EFTPOS fee: 3%
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Compare transaction accounts with mobile banking below

Rates last updated May 24th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
NAB Classic Banking
Visa
$0
$0
Apply for a NAB Classic Banking account from overseas 12 months prior to arriving in Australia. You'll receive your account details and be able to deposit money from overseas. Upon arriving, you'll need to visit a NAB branch some form of identification to receive your debit card.
HSBC Everyday Global Account
Visa
$0
$0
In most cases, you need an Australian residential address to open this account. However, if you live in a country that has HSBC bank branches, you can visit a local branch and a specialist will be able to assist you in opening this account prior to your arrival in Australia. This account allows you to hold up to 10 currencies at once.
NAB Classic Banking with Platinum Visa Debit Card
Visa
$0
$0
Apply for a NAB Classic Banking account from overseas 12 months prior to arriving in Australia. You'll receive your account details and be able to deposit money from overseas. Upon arriving, you'll need to visit a NAB branch some form of identification to receive your Platinum Visa debit card.
Westpac Choice
Mastercard
$0
$2,000
Open a Westpac Choice account up to 12 months before arriving in Australia. Enjoy $0 monthly account fees for the first 12 months, and withdraw money after completing an identity check at any Westpac bank branch in Australia.
ANZ Access Advantage
Visa
$0
$2,000
Apply for an ANZ Access Advantage account before arriving in Australia and start transferring funds once you receive your account details. Upon arriving, you'll need to activate your account in order to receive your debit card. Enjoy $0 monthly account fees for the first 12 months.

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What is mobile banking?

It’s a system that lets you, the customer of a financial institution, process financial transactions through an app, accessed via a mobile device or smartphone. This is not to be confused with contactless payments, which uses Near Field Communications (NFC) technology to allow you to use your smartphone (in place of a debit or credit card) to pay for goods and services by tapping it near another device. Mobile banking has been most successful with the iPhone and some Google Android devices.

Mobile banking apps and features

Almost all Australian banks have a mobile banking app that allows their customers to perform a range of tasks. Here's what the Big Four have to offer.

Mobile banking appFeatures
CommBank app (formerly known as CommBank Kaching)Available on the App Store and Google Play
  • Purchase items in store with PayPass using your Apple iPhone or Android phone
  • Use the Commbank app to withdraw up to $500 when you don't have your debit card or wallet on hand
  • Make BPAY payments
  • Schedule transfers and payments
  • View account balances
  • Transfer funds to another account
  • Pay friends using their mobile phone number
  • Lock and cancel cards (if missing, lost or stolen)
  • ATM and branch locator
ANZ Available on the App Store and Google Play
  • Make BPAY payments
  • View account balances
  • Transfer funds to another account
  • Pay friends using their mobile phone number
  • ATM and branch locator
NABAvailable on the App Store, Google Play and the Windows Phone Store
  • Make BPAY payments
  • Schedule transfers and payments
  • View account balances
  • Transfer funds to another account
  • ATM and branch locator
  • Calculators for repayments and loans
Westpac Mobile BankingAvailable on the App Store, Google Play and the Windows Phone Store
  • Make BPAY payments
  • Schedule transfers and payments
  • View account balances
  • Transfer funds to another account
  • ATM and branch locator
  • Withdraw cash through the app when you don't have your debit card or wallet on hand
  • Temporarily block transactions

cropped mobile image

Images: Google Play

How does mobile banking work?

To access mobile banking, you will first need to download the app that corresponds with your bank. Your bank’s website will usually have a link for you to download the app from. After you’ve downloaded the app, follow the prompts to set up your account. It may ask you to confirm your username and password as well as send you an SMS to confirm your identity. If you have any problems with setting it up, it’s best to go into a branch for assistance. When you’ve finished setting it up, you’ll be able to perform banking services as you would on a computer. Some typical features include:

  • View your account balance
  • Making BPAY payments
  • Set up scheduled payments
  • Transferring funds between accounts
  • Transferring funds to another account
  • Monitoring investments
  • Customer service and support

What to look out for...

Before you start mobile banking, here's what you should look out for.

  • Security of financial transactions are paramount to any mobile banking app. Ensure that all your financial details are kept safe with authentication by having a user ID, password and PIN. Encryption of data is also important so that hackers won’t be able to access your information - the same applies if you lose your phone.
  • Ensure the app is compatible with your device. With the number of different mobile phone devices available today, you need to ensure that your bank has created a banking solution that suits your particular mobile phone. Some mobile phone models may only cater for a number of the functionalities that the banking app is capable of.
  • Access to customer service. Banks have a lot of customers, so they need to able to produce a mobile banking infrastructure to handle large volumes of transactions at a time. Services should be available 24/7 and all systems should be working within the app.
  • Is mobile banking available for your bank? Your bank will be the main decider as to what mobile banking platform you should be using. This is because you can’t access your bank account details through another bank. If you’re looking to switch bank accounts then the quality of mobile banking provided by other financial institutions could be a factor in your decision.

What are the advantages of mobile banking?

  • Save on time and complete a host of tasks without leaving the building. Instead of allocating time to walk into a bank, you can check account balances, schedule and receive payments, transfer money and organise your accounts when you’re on the go.
  • Convenient for managing funds on-the-go. Do your banking at a time and place that suits you, instead of waiting in queues.
  • Security measures are built into the app. Generally, good mobile banking apps have a security guarantee or send you a SMS verification code you need to input to authorise a payment for added security.

Something to consider...

Most mobile banking apps need an internet connection to be able to operate, so if you live in a rural area or experience problems with your internet connection, then you won’t be able to access your account. The same applies if your mobile phone runs out of battery.
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How can I ensure my information is secure?

While most banking apps take into account security in the development of the app, it's still crucial that you observe best practice when using the app. Mobile phone apps can only do so much on their own to ensure you’re secure, such as logging you out after a certain amount of inactivity or making you provide password or SMS codes. If you’re careless about your own security, such as doing your banking on a public Wi-Fi connection, then you risk your details being stolen regardless of how secure a mobile banking app is.

Frequently asked questions

Mobile banking is used in many parts of the world and can be a great financial tool if used properly and securely. While you can enjoy doing your banking when you want where you want, always remember to always be cautious of your security.

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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4 Responses

  1. Default Gravatar
    TonyMay 5, 2016

    do the commonwealth bank and westpac telephone banking apps work on a blackberry classic

    • Staff
      ShirleyMay 6, 2016Staff

      Hi Tony,

      Thanks for your question.

      Unfortunately at this point in time Commonwealth Bank and Westpac don’t have mobile apps working with Blackberry.

  2. Default Gravatar
    ElizabethMarch 1, 2015

    I have a bank account (A Chequing & e-advantage savings)with CIBC.
    I recently had to report my visa debit card lost which my Bank then canceled unfortunately I found it too late and the cancelation of my card was unreversable.
    I am unable to go into my branch to get a replacement card as I am out of town for a few weeks, as well have no forms of Identification asy purse was in the back of my girlfriends vehicle which was recently stollen (like I needed to lose ALL of my ID on top of everything else).
    My question is how can I or am I still able to utilize my money in my bank account that IS available to me in anyway? I hope there is a possible form of transaction that can take place for me to be able to have access to MY money either through a Transfer to an email or person with security measures if course. Will or Can u aid me in this request?
    Sincerely, Elizabeth

    • Staff
      ShirleyMarch 2, 2015Staff

      Hi Elizabeth,

      Thanks for your question and we’re sorry to hear about your situation.

      Please note that finder.com.au is an Australian comparison and information service.

      Unfortunately you’ll need to speak to CIBC (phone or in person) about your options in regards to accessing your account. They may be able to organise an emergency cash transfer for you.

      Cheers,
      Shirley

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