Australia's best bank accounts of 2019 announced

Remy Taylor

07 Mar 2019

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You might think all bank accounts are more or less the same, but when there are new and improved, digital-only options, flashy perks, no fees and a bunch of other attractive features on offer, it’s important to compare what’s out there and find the one that’s perfect for you.

Now here’s where the Mozo Experts Choice Awards 2019 come in - by analysing over 107 personal bank accounts from 70 financial institutions, our experts have highlighted the ones not only offering fee-free banking but also offering exceptional extra value above and beyond your run-of-the-mill bank account.

Make a start on your bank account search with this selection of Australia’s top bank accounts, according to the Mozo Experts:

Exceptional Everyday Account and Best New Transaction Account

Promoted

Citi Global Currency Account
  • Up to 2.25% p.a. interest

  • A bank account for 10 currencies in the one place

  • No international transaction or international ATM fees

A dual winner, the Citi Global Currency Account nabbed Mozo Experts Choice Awards in both the Exceptional Everyday Account and Best New Transaction Account categories. Why? Well, it not only offers fee-free banking, but also the ability to pre-purchase and hold up to 10 foreign currencies. Plus, the account has access to real-time exchange rates which are updated on the Citi mobile app every 10 seconds. And if that’s not enough, it also has tiered interest of up to 2.25% p.a. balances over $250,000, making it pretty obvious why it’s counted among Australia’s best transaction accounts.

Exceptional Everyday Account

Promoted

Bankwest Hero Transaction Account
  • $0 monthly fee when you deposit $2,000 a month

  • 1.50% p.a. interest on balances up to $5,000

  • Unlimited fee-free online and over the phone transactions

When you’re looking for an exceptional everyday account, you’re looking for no account, EFTPOS or ATM fees, plus some stand out rewards or platinum features to pull it all together. The Bankwest Hero Transaction has all of this plus more so it’s no wonder why it took out a Mozo Experts Choice Award for Exceptional Everyday Account. As long as you have a balance up to $5,000, you can earn 1.50% p.a. interest and if you deposit at least $2,000 each month it’s fee-free. Deposit $4,000 into the account each month and you can upgrade to a platinum debit card for extra perks.

Everyday Bank of The Year and Exceptional Everyday Account

Promoted

ING Orange Everyday
  • No ATM withdrawal fees overseas or in Australia (conditions apply)

  • $0 monthly fee when you deposit $1,000

  • Multi-year winner of Mozo People's Choice Award*

Not only is ING Orange Everyday a two-time 2019 Mozo Expert’s Choice Award winner in the Everyday Bank of The Year and Exceptional Everyday Account categories, but it’s also a multi-year winner of Mozo People’s Choice Awards. Its added value and benefits like online, 24-hour phone banking and BPAY are just some of the reasons why it continues to stand out in the Mozo Expert’s Choice Awards. Plus, if you deposit $1,000 into your ING account every month and also make 5 purchases using your ING debit or credit card you won’t need to pay any account or ATM fees - there’s no wonder it catches our experts’ eyes.

This is only a handful of the winners, so if you’re looking to spice up your bank account, or if you’d like to check out our full list of bank account winners head over to our bank account comparison tool and take it for a spin.  

*Read about the Mozo People’s Choice Awards.

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