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Organise your finances with ease using online banking

Check your balance and transfer funds instantly with online banking.

Online banking makes it quick, easy and convenient for you to manage your finances. No matter where you are or what time it is, with online banking you can check your balance and transfer funds – all with a few simple clicks on your mouse or taps on your smartphone.

Nearly every bank, credit union and building society across Australia offers an online banking platform, so it’s important to compare its features to determine which online banking portal offers the right features and benefits for you.

St.George Complete Freedom Account

Online Bank Account Offer

  • $0 monthly fee when at least $2,000 is deposited per month or when opening a Complete Freedom Student account, otherwise a fee of $5 applies per month
  • $0 ATM withdrawal fee at 50,000+ ATMs globally
  • Visa Debit with payWave
    • Rates last updated February 26th, 2017
      Internet Banking Internet Transaction Fee
      NAB Classic Banking
      $0 monthly account fees.
      Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone.
      Yes $0 Open More
      St.George Complete Freedom Account
      10% Cash back for online gaming purchases.
      Waived account keeping fees when minimum deposit is met with no minimum balance.
      Yes $0 Open More
      ING DIRECT Orange Everyday Account
      $75 cash bonus + Apple Pay available
      Get a competitive ongoing variable rate when linked with a Savings Maximiser.
      Yes $0 Open More
      Bankwest Easy Transaction Account
      Pay no ATM fees at over 10,000 ATMs in Australia (conditions apply).
      Yes $0 Open More
      Bankwest Qantas Transaction Account
      Earn Qantas Points on eligible purchases and on your account balance.
      Conditions apply.
      Yes $0 Open More
      ANZ Access Advantage
      Apple Pay, Android Pay and ANZ Mobile Pay. Take advantage of Apple Pay by linking your ANZ Visa Debit card to an eligible iPhone and seamlessly pay for purchases with your phone.
      Yes $0 Open More
      Westpac Choice
      $0 ATM withdrawal fee at 50,000+ ATMs globally.
      Via Westpac's Global ATM Alliance. Get Cash without your debit card (conditions apply).
      Yes $0 Open More
      BankSA Complete Freedom Account
      Open one in less than 5 minutes with Cardless Cash available.
      Yes $0 Open More
      BankSA Express Freedom Account
      Get Cardless Cash, free SMS and email alerts.
      Yes $0 Open More
      Bank of Melbourne Complete Freedom
      Get Cardless cash and shop securely with your Visa debit card. Customise SMS and email alerts.
      Yes $0 Open More
      Bank of Melbourne Express Freedom
      Get Cardless Cash and PAYG branch and cheque services.
      Yes $0 Open More
      Rates last updated February 26th, 2017
      Internet Banking Internet Transaction Fee
      Bankwest Hero Saver
      Ongoing, variable 2.65% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
      Yes $0 Open More
      ING DIRECT Savings Maximiser
      Ongoing, variable 3.00% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month. Available on balances up to $100,000.
      Yes $0 Open More
      Bank Australia Online Saver Account
      Ongoing, variable rate up to 1.65% p.a. when you link to a Bank Australia Everyday Access or Pension Access or a mortgage offset account. Available on balances more than $5,000.
      Yes $0 Open More
      ME Online Savings Account
      Ongoing, variable 3.05% p.a. rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.
      Yes $0 Open More
      ANZ Online Saver
      Introductory rate of 2.65% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
      Yes $0 Open More

      Over 12 million Aussies use a smartphone – about 75% of those have access to the Internet, letting you download banking, finance and shopping apps. Many financial institutions have exceeded its customer's expectations with user-friendly web interfaces, innovative technology and online offerings.

      What is online banking?

      Online banking is also known as Internet banking. Other terms include "e-banking" or "virtual banking". It is an electronic system that lets bank account holders conduct a range of transactions through the bank's website. It's like banking within a branch, but on a computer, tablet or smartphone. Take a look at the table below to see what online banking platforms are called.

      Financial institutionOnline bankingTablet bankingMobile banking
      WestpacWestpac LiveWestpac Mobile Banking
      • Westpac banking for iPad
      • Westpac banking for Windows 8
      ANZANZ Internet BankingANZ goMoney ANZ goMoney
      NABNAB Internet BankingNAB Mobile AppNAB Mobile App
      Commonwealth BankNetBankCommBankCommBank

      You can look forward to the following features:

      • Move or transfer money via email, social networking, BPAY and smartphone-to-smartphone
      • Check your account balance and access your transaction history
      • Find the nearest ATM in your bank's network
      • Research products and services to buy or upgrade
      • Use financial calculators such as currency converters, home loan repayments calculators and share trading calculators
      • Turn your phone into a payment device using Near Field Communication (NFC)

      How does online banking work?

      Online banking lest you to perform all your banking transactions over the internet. Instead of visiting your nearest branch to make a deposit, transfer money, pay off your credit card or check your savings balance, you can access your finances through any internet enabled device. As well as your personal computer, this includes laptops, tablets and smartphones.

      Once you have an account with a bank, building society or credit union, it’s usually free to sign up for an online banking account. It usually takes less than 10 minutes to apply. After creating a password to ensure secure login to your account, you can begin managing your finances online. Note that your credentials to log into online banking usually won't be the same as your bank details, to increase security.

      How do I register for online banking?

      You'll usually need:

      • An 8 digit customer number (ID) or your card number. Note that the amount of digits in your ID can be different.
      • Your account details on hand, or a recent bank account statement

      You can also call your bank directly and it can help you set up. Alternatively, drop by your local branch.

      How do I register for mobile and tablet banking?

      Once you've set up online banking on your desktop, all you need to do is download the relevant apps from the App Store or Google Play. You can also utilise features such as Tap and Pay and Apple Pay.

      Did you know?

      Mobile Commerce – or M-Commerce – is the new word to describe the paying of goods and services through a mobile phone. Australia has one of the highest rates of mobile phone usage at 37%, just behind Singapore. We also use more apps than the US or Britain per head of the population and more comfortable banking on our phones.

      As more and more of our daily activities are done online, we no longer need to stand in line at the bank, or make sure we rush to the bank just before it closes. Internet banking lets us bank anytime of the day and anywhere.

      Could I choose a bank accounts based on it's online banking features?

      In a world where we're glued to our smart phones, mobile banking could be the deal breaker between one bank account over another. If you're incredibly tech-savvy and just can't live without an advanced online banking app, then you may want to consider choosing a bank account based on it's online banking features. If you're a small to medium mobile user, then mobile banking may not be your priority. Remember to compare the fees, you may find the more expensive bank accounts offer better online banking services. See which banks are considered to have the best online banking features below.

      What's new in internet banking?

      Here are just a few services you can use when banking online.

      Quick balance

      This feature lets you view your available balances in real time. You can see your recent transactions and click instantly through to see how many award points you have gained.

      Download your statement instantly

      Instead of waiting for your statement in the mail, you can download a summary of your accounts and balances. You can use these for ID verification and tax purposes.

      Pay to mobile

      You can securely send and receive payments using a mobile phone number, using internet and mobile banking.

      Withdraw cash without your debit card

      With a new feature called card less cash, you can withdraw money from an ATM without having your debit card. Compare card less cash here.

      Lock, block, limit

      Control over your lost credit card or debit card by blocking transactions and limiting its spend.

      Overseas ATM locator

      Customers can how avoid unnecessary foreign ATM fees when travelling.


      How do I compare e-banking?

      Consider the following features when checking to see how online banking platforms compare against one another.

      Your current bank

      You're limited to the online banking platform provided by your bank. For example, if you have a Westpac account, you won't be able to use ANZ's online banking system. However, if you’re looking to open a new account, the strength of online banking options on offer could influence your decision.

      The usability of the website

      Test out whether the bank's website is user-friendly, easy to navigate and doesn't take a long time to load. Check for speed, accuracy and convenience.

      Ability to apply for new products

      Check whether you can apply for new products on the mobile app. In some cases, you may be presented with special offers and promotions within the app too.

      How often you need to update the apps

      Your bank should continually make the process easier for you: ironing out bugs, glitches and adding new features that make things more convenient for you. However, updates usually take up data unless you're on Wi-Fi.

      The security measures in place

      Your bank should protect you against fraudulent activity online and offer some type of Security Guarantee. As part of the Guarantee, the bank should repay any missing funds that are a result of online fraud. Read up on the measures as well as term and conditions your bank takes to protect your funds and your identity when banking online.

      In most cases, banks will ask for your mobile phone number when

      Accessibility and compatibility

      You want to be able to access your finances whenever and wherever it’s convenient for you, so check to see whether you can login to your account and complete transactions on a range of devices. In most cases, you'll need a compatible smart phone.

      The features available

      Does the online banking platform allow you to take care of all your regular transaction needs, for example checking your savings account balance or paying off your credit card bill?

      24/7 Customer support available

      Does your bank offer online tools and educational resources if you ever need assistance performing a transaction? Is online customer assistance available when required?

      The ability to apply for products through online banking

      A good online banking platform will let you apply for a product entirely online, get instant approval on certain products, and let you save your application progress. You should be able to certify 100 points of ID without visiting a branch.

      Improving your financial literacy

      Similarly, a good online banking platform should have online support or a chat service available. It should be easy to use and provide general information about how to manage your finances, like savings and budgeting.

      Back to top

      What are the pluses and minuses of using online banking?

      Pluses

      • You get 24/7 access to your bank and savings accounts. Whereas in the past you could only manage your finances by visiting your bank during its opening hours, you can now transfer funds and check your balance at any hour of the day or night.
      • You don't need to queue up or find your local branch. Instead of wasting precious time waiting to be served at a bank branch, you can now manage your finances whenever and wherever it is convenient for you.
      • It's fast and simple to use. The best online banking platforms are easy and intuitive to use, making it quick and hassle-free to perform a wide range of transactions.

      Minuses

      • You're limited to the platform provided by your bank. Not all online banking platforms are created equal, so it’s important to find one that is easy to use and allows you to perform all of your regular transactions.
      Back to top

      What are the risks using online banking with my savings account?

      One risk to be wary of when using online banking services is logging into your account on an unsecured public network. Although internet banking is quite safe and there are a raft of security measures in place to protect your money and your personal details.

      • You should always make sure to only log into your online banking account when you are connected to the internet via a secure network.
      • You should always keep your password and PIN to yourself.

      When it comes to savings accounts, one of the strengths of online banking – 24/7 access to your account – can also be a problem for some people. With the ability to quickly and easily access your funds at any hour of the day, the temptation to dip into their savings balance unnecessarily can be too strong a temptation for some people.

      Infographic: Online banking statistics

      Online_Banking_Statistics

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      How can I find out more about the online banking service offered by my bank?

      Contact your bank for more information. You can visit your nearest branch or visit your bank’s website for more details.

      Can I transfer money to someone else’s account using online banking?

      Yes, you can use online banking to send money to bank accounts in Australia and around the world.

      Do I need to pay money to use online banking?

      No, signing up to an online banking account is usually free. Of course, charges may apply depending on the transactions you perform.

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      Savings Account Offers

      Learn about our information service
      ING DIRECT Savings Maximiser

      Maximum Variable Rate

      3.00

      Standard Variable Rate

      1.60
      ME Online Savings Account

      Maximum Variable Rate

      3.05

      Standard Variable Rate

      1.30
      Bankwest Hero Saver

      Maximum Variable Rate

      2.65

      Standard Variable Rate

      0.01
      ANZ Progress Saver

      Maximum Variable Rate

      1.91

      Standard Variable Rate

      0.01

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