Aussies love of banking apps trumps social media!

Does it surprise you to learn that 66% of Australians now say they can’t live without their banking apps. In fact, a recent study by the Commonwealth Bank also reported that Australians are more likely to delete their social media apps than their banking ones.
Why you might be wondering? Well, unlike pens, paper and excel spreadsheets, apps are convenient and they help us to keep tabs on our money in a way that we couldn’t do before we had digital banking and smartphones.
CommBank’s general manager of digital operations technology Fredrik Lindstrom, said, “With the cost of living placing increasing pressure on Australians, we know our customers are looking for ways to keep track of their saving and spending, and to manage their finances more conveniently, in one place.”
According to the study, 50% of Aussies said they would prefer to have a single app for all their financial management needs, and 51% of 18 to 34-year-olds said they were already using their bank’s app to do all their budgeting.
In addition to general banking needs, the study has also found that people use their banking apps to aid them in their saving journey. This included saving for travel (58%), a home loan deposit (42%), and buying technology (30%).
What to look for in a banking app?

Not all apps are created equal, and what works for you might not work for someone else.
According to the study, 50% of Aussies like apps that offer bill prediction, spend tracker or budgeting features all in one place.
Another nifty feature to look for in a banking app is the ability to track your savings goals, whether it be an emergency fund or a sinking fund.
Every year, as part of the Banking Apps & Tech Mozo Experts Choice Awards our team of expert judges compare banking apps head to head to help make your search for a top banking app easier. This year 96 banking apps were reviewed.
To be crowned an award winner, the banking app must meet 17 critical functions like spend categorisation/tracking, customised alerts/notifications and scheduling payments while offering fee-free banking.
Some of the winners this year included CommBank and Up, which allow you to budget in the app itself and correctly categorise your spending. This could help you better understand where your money is going and where you can tighten expenses.
If you’re looking for a new bank check out Mozo’s bank comparison page, or for ways to improve your budgeting check out our budget calculator.
Bank account comparisons on Mozo - last updated 30 June 2022
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Transaction Account
account fee
Payment Options
interest rate
$0.00Apple Pay, Google Pay, PayID1.50% p.a.Earn 1.50% p.a. interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2022^.
CompareCompareTransaction Account
Earn 1.50% p.a. interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2022^.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID
- interest rate
- 1.50% p.a.
- ATM networks
- rediATM (other ATM network fees refunded)
- What kind of card?
- Debit Mastercard
- Interest rate
- Balances from $0: 1.50% p.a.
Balances from $250,000: 1.00% p.a.
Balances from $1,000,000: 0.85% p.a.
- Fee free transactions
- Unlimited free transactions from any Australian ATMs, EFTPOS, phone, internet, BPAY and direct debits
Read our Mozo Review to learn more about the Transaction Account
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Everyday Options
account fee
Payment Options
interest rate
$0.00Apple Pay, Google Pay, PayID0.01% p.a.An easy, everyday banking account packed with flexible options to help you spend, budget & save better. You could get $25 plus Suncorp Bank will donate 25 meals to Oz Harvest. T&C’s Apply.
CompareCompareEveryday Options
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. You could get $25 plus Suncorp Bank will donate 25 meals to Oz Harvest. T&C’s Apply.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID
- interest rate
- 0.01% p.a.
- ATM networks
- Suncorp
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
Balances from $1: 0.01% p.a.
- Fee free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Everyday Options
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Featured Product
Glide Account
account fee
Payment Options
interest rate
$0.00Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, Garmin0% p.a.Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
CompareCompareGlide Account
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, Garmin
- interest rate
- 0% p.a.
- ATM networks
- MyState
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited free internet transactions.
Read our Mozo Review to learn more about the Glide Account
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Classic Banking Account
account fee
Payment Options
interest rate
$0.00Apple Pay, Google Pay, PayID, Samsung Pay0.01% p.a.No monthly account fees ever, with no conditions. Free use at over 7,000 ATMs around Australia. No overdrawn fees if you happen to go over your account balance. Open an account in less than 7 minutes.
CompareCompareClassic Banking Account
No monthly account fees ever, with no conditions. Free use at over 7,000 ATMs around Australia. No overdrawn fees if you happen to go over your account balance. Open an account in less than 7 minutes.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID, Samsung Pay
- interest rate
- 0.01% p.a.
- ATM networks
- NAB
- What kind of card?
- Visa Debit or
EFTPOS
- Interest rate
- Balances from $0: 0.01% p.a.
- Fee free transactions
- Unlimited free transactions from own-bank ATM, EFTPOS, counter withdrawals, counter deposits, phone, internet and Visa debit purchases
Read our Mozo Review to learn more about the Classic Banking Account
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Orange Everyday
account fee
Payment Options
interest rate
$0.00Apple Pay, Google Pay, PayID0% p.a.Rebates on ATM fees anywhere in Oz. No ING international transaction fees. Zero monthly fees. Winner of the Mozo Experts Choice Awards 2022 for Exceptional Everyday Account.^
CompareCompareOrange Everyday
Rebates on ATM fees anywhere in Oz. No ING international transaction fees. Zero monthly fees. Winner of the Mozo Experts Choice Awards 2022 for Exceptional Everyday Account.^
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID
- interest rate
- 0% p.a.
- ATM networks
- None
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Access 1% cashback on eligible utility bill payments (up to $100 per financial year), rebates on ATM fees for the first 5 fee incurring withdrawals (domestic and international) and unlimited rebates on international transactions. When you deposit at least $1,000 from an external bank account and make at least 5 card purchases using your ING debit card each month.
Read our Mozo Review to learn more about the Orange Everyday
^See information about the Mozo Experts Choice Bank Account Awards
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