Compare Australian Bank Accounts with Mozo

Looking for the best everyday bank account for your money? Compare more than 90 bank accounts from up to 70 banks on Mozo today and find out how to save on account fees, ATM fees, international transaction fees and more.

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How can I find the best bank account with Mozo?

When it comes to picking the best bank account there are so many things to weigh up, from choosing whether to go for a traditional or online account to finding one with no ATM or monthly account fees. And with so many types of bank accounts on offer from a range of banks, comparing them can prove a hard ask.

That’s where Mozo’s bank account comparison table below can help out. By listing a range of accounts all in the one place you’ll be able to easily compare accounts side by side based on features such as account fees, interest rates and even whether the account is compatible with digital payment options like Apple, Google and Samsung Pay.

Is the interest rate on a bank account important?

It’s always nice to be earning as much interest on your money as possible, but the vast majority of bank accounts in Australia have relatively low interest rates. While that doesn’t mean you shouldn’t weigh up interest rates when comparing bank accounts, many Aussies choose to stash the bulk of their savings in a savings account with a higher interest rate.

If you are interested in comparing some of the bank accounts with the best interest rates around, check out the offers in the tables below or click the green ‘Compare more bank accounts’ button further down and refine your search by interest rate to see even more offers.

What is an online bank account?

Online bank accounts are an increasingly popular type of bank account for many Australians. Instead of visiting a branch and conducting your banking business face to face, online bank accounts allow Aussies can use their smartphones or laptops to check their balances, transfer money and make repayments conveniently through a website or banking app.

Which banks have digital payment options?

Love the idea of ditching your wallet and paying for everything with your phone? It’s no longer a dream, with digital wallets like Apple Pay, Google Pay, Samsung Pay and wearable payment options like Fitbit and Garmin making it easier than ever for Aussies to leave their physical cards and cash at home.

And Mozo makes it easy to find out whether or not a bank account has the digital payment option of your choice. Just have a look under ‘Payment Options’ in the different bank accounts below.

Page last updated May 25, 2019

Bank account comparisons on Mozo - rates updated daily Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.

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Bank Account Resources

Reviews, news, tips and guides to help find the best bank account for you.

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Making a quick and easy bank account comparison

Whether you're looking for low fee accounts, online accounts or high interest accounts, Mozo can guide you through the Australian banking maze.

Our database lets you quickly compare bank accounts throughout Australia by fees and features, and covers hundreds of accounts from major banks, regional banks and credit unions.

You can also read reviews from real customers around Australia to get the inside story on everything from bank fees to customer service.

Before you compare bank accounts (also known as transaction accounts), it helps to make a quick list of the features and access what you need for your day-to-day banking.

Questions to ask include: How many transactions do you make each month? Do you want extras like a debit card or a cheque book? Do you require internet banking?

To make a quick and easy transaction account comparison, our nifty comparison tools let you filter Australian accounts by your desired features to help you find the best bank accounts for your needs. You can shortlist and compare your selection side-by-side.

Finding the right bank account

If you make a large number of ATM and EFTPOS transactions each month, compare bank accounts that give you unlimited electronic transactions for one low monthly fee. These days some accounts even offer unlimited transactions with no monthly fees. If you want to make purchases online also think about an account with a debit card attached.

Those who intend to maintain a high account balance from month to month should consider a high interest bank account that pays a good interest on your money, while still giving you all the convenience of a regular everyday transaction account.

With Mozo you can compare bank accounts Australia wide by interest rate, monthly account fee, monthly free transactions and more.

Where can I find a calculator to help with budgeting and tax? 

The key to a healthy bank balance is sticking to a budget. If you want some help working out how much you spend and how much you should have left over each month, try our handy budget calculator.

And if you are wondering if the tax man is playing fair, try our income tax calculator to work out whether you're paying too much or too little tax.

This page is about personal transaction accounts. If you're after a transaction account for your small or medium business, check out our Business Bank Accounts page.

Comparing high interest bank accounts

With such a variety of high interest transaction accounts on the market right now, it's a tough call to pick the best one. Mozo provides you with all the information you need to make the right choice and nab a great deal.

High interest bank accounts do everything a normal account does, with the added benefit of giving you a high interest rate on your money. They may have conditions, such as making a minimum deposit each month, so do your homework to find the right high interest bank account for your needs.

Finding the best no fee transaction account

With such a variety of bank accounts on the market right now, it's a tough call to pick the best one. No fee accounts have no monthly service fees. Some no fee transaction accounts also give you a set number of free transactions each month. Mozo provides you with all the bank accounts information you need to make the right choice and get the best deal for you. Find and compare no fee bank accounts with Mozo.

This page is about no fee bank accounts. You can find other bank accounts by visiting our bank accounts page.

Bank Account Reviews

Commonwealth Bank
Commonwealth Bank Smart Access Bank Account review
Overall
7/10
Satisfied

Very satisfied with their services. I've been with Commonwealth Bank since I was a little girl.

Read full review

Very satisfied with their services. I've been with Commonwealth Bank since I was a little girl.

Price
3/10
Features
6/10
Customer service
4/10
Convenience
4/10
Trust
4/10

Less

Mellissa | New South Wales

reviewed 2 months ago

ING
ING Bank Account review
Overall
10/10
Fantastic service

ING just makes my financial life easy. It works, simply and efficiently. I literally can just go...

Read full review

ING just makes my financial life easy. It works, simply and efficiently. I literally can just go about my day without worrying about my bank.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10

Less

Sandra | Victoria

reviewed 2 months ago

Commonwealth Bank
Commonwealth Bank Smart Access Bank Account review
Overall
10/10
Great

Very happy customer.

Read full review

Very happy customer.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10

Less

Rhonda | New South Wales

reviewed 3 months ago

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Fee-free bank accounts

A fee-free bank account can actually mean multiple things. For instance, it could refer to an everyday transaction account that comes with $0 monthly fee, or an account that waives its recurring charges as long as you deposit a certain amount each month, or one that does not charge extra money for ATM and over-the-counter transactions.
How to open a bank account

Opening a bank account in Australia is a very simple process that doesn’t require you to spend hours filling out complicated paperwork. It actually just takes a few minutes and can be done online or at a local branch of a bank, credit union or building society, depending on whatever works best for you.
Online accounts

Gone are the days when you needed to go over specially to your local branch to deposit cash, transfer money, check your account balance and pay off your credit card. Online banking makes your financial life simpler by letting you perform all of these actions with just one tap on your smartphone, computer or tablet.     
Bank Account Fees and Charges

Bank account fees and charges vary between banks and between bank account products. Here are the most common fees and charges that you will likely see attached to a bank account:
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These days banks have taken on the idea of personalised banking and developed a range of bank accounts to suit the particular banking needs of their customers (or so they would have us believe!) 
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The first step to avoid any sneaky bank charges is to be aware of the common fees that can eat away from your monthly bank balance. Here's a list of the charges that you need to watch out for:
Changing bank accounts

Wondering if it's worth the trouble to switch your bank account? Trust us, changing bank accounts is no big deal and you'll feel much happier with all the extra savings you'll make. Banks make billions of dollars out of customer laziness - so keep your mind on the prize and soldier through these 5 Steps to Bank Account Paradise.

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From party pies to hitting up the Karaoke bar on a Friday afternoon, Australia is full of crowd favourites - even when it comes to banking.
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