Bank accounts have had a major glow-up: Is it time to switch?
When you think of your bank account, you likely think of three key things. Has my pay gone into the account, what’s the current balance, and wow, do I really spend that much on sushi?
What you’re probably not thinking about is whether your bank account fees and features are really helping you hit your financial goals and whether or not there might be a better account suited to your spending habits and lifestyle.
But did you know that bank accounts have also undergone a transformation in recent years and not just in terms of digital wallets and tap n go abilities. While most bank accounts are still the non-interest earning account option for everyday spending and money management, several banks have been adding on innovative features and rewards or removing fees to stand out from the pack.
Let’s take a look at some of them and then decide whether your current bank account stacks up or whether it’s time to switch…
ING Orange Everyday
- Multi year Mozo Experts Choice Awards^ winner for Exceptional everyday account
- 1% cashback on eligible utility bill payments (up to $100 annually)
- Unlimited rebates on international transaction fees (T&Cs apply)
- Round-up feature to help you save or contribute towards philanthropy
The ING Orange Everyday account is a regular Mozo Experts Choice Award recipient, having won awards for Exceptional Everyday Account for 8 years running (2018-2025).
The account offers a range of innovative features which are unlocked when the monthly criteria (deposit at least $1,000 from an external source to any personal ING account in your name) are met and you make five or more settled (not pending) eligible ING card purchases.
These features include rebates on domestic ATM fees (up to 5 per month), not paying any international transaction fees on online or overseas purchases, and scoring up to $100 cashback annually for paying your utility bills through the account.
You can also activate the everyday round-up feature which will round up your card purchases to the nearest $1 or $5 and the extra amount is moved to your nominated savings account or charity.
There's a $5 fee for international ATM withdrawals but rebates are available for eligible customers.
ubank Spend Account
- No domestic ATM, international ATM or transaction Fees
- Track spending with insights and predictions
- Mozo Experts Choice High Interest Savings Award Winner 2025
ubank's Spend Account is an everyday bank account and money management tool rolled into one.
The account has no monthly fees, overseas and online payments are also fee free making it a great account to use when travelling. You can use the account with all the main digital payment methods (Apple, Google, Samsung, Fitbit and Garmin Pay) and access ATMs or payments via a physical card.
The app helps you to track upcoming expenses and bills and gives you visibility to your spending so that you can avoid any late fees.
It also lets you connect accounts with other banks so that you have a single view of your finances.
Suncorp Carbon Insights Account
- Australia’s first certified carbon neutral personal transaction account
- No monthly account or foreign currency conversion fees
- Banking innovation winner - Mozo Experts Choice Awards 2023^
If you’d like to understand how the purchases you make are contributing to climate change, the innovative Carbon Insights Account from Suncorp can help. In addition to a range of great standard bank account features like no account fees, no international or foreign currency conversion fees (when using the Visa Debit Card online and overseas) and free domestic Suncorp ATM access, the app attached to the account also tracks and estimates the carbon emissions for your purchases. You can also benefit from other Suncorp banking app features like sub accounts and budgeting with the dollar tracker. The account is only available online and can be opened within minutes according to Suncorp.
HSBC Everyday Global Account
- No international ATM fees
- Buy, hold, and spend in 10 currencies
- Free HSBC international money transfers
- Earn 2% cashback on eligible tap and pay transactions (<$100)
The HSBC Everyday Global Account may be an appealing option for those who travel overseas regularly. There’s no international ATM fees and you can buy, hold and spend in up to 10 currencies without incurring international transfer fees.
There are also no monthly account fees or international transaction fees.
If you meet the HSBC Everyday Extras minimum deposit requirements of $2,000 per month, you can earn 2% cashback (up to $50 per month) on eligible tap and pay transactions under $100.
Overall, the HSBC Everyday Global Account is well-suited for customers seeking a versatile banking solution that supports an international lifestyle. However, it’s sensible to compare a range of options to find the account that best suits your needs.
Great Southern Bank Everyday Edge Account
- Zero account keeping fees
- Unlimited fee-free domestic transactions
- Free access to thousands of ATMs nationwide
The Great Southern Bank Everyday Edge Account is designed to make your everyday banking straightforward and cost-effective. With no monthly account keeping fees and unlimited fee-free domestic transactions, you can manage your finances with ease. Enjoy the convenience of tap-and-pay using your preferred digital wallet and access your account through mobile and online banking.
For customers who deposit $2,000 or more each month from a non-Great Southern Bank account and make at least five settled Visa Debit card purchases (excluding ATM withdrawals and cash-outs), the bank offers rebates on international transaction fees and overseas ATM withdrawal fees. Additionally, meeting these criteria can help you qualify for bonus interest on linked savings accounts like the Home Saver and Goal Saver, allowing you to grow your savings faster.
This account is available to customers aged 18 years and over.
Want to compare more bank accounts? Compare over 80 banks on Mozo to find a bank account to suit your needs.
^See information about the Mozo Experts Choice Bank Account Awards
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