EOFY deals trigger money rethink: Are you getting value from your everyday bank account?

By Peter Terlato · · 2 min read
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woman shopping EOFY sale bank account

As the end of financial year (EOFY) draws closer, new research shows more than 7 in 10 Australians plan to shop the sales this June – a clear sign that households are seeking ways to make their money go further.

But while big-ticket bargains may grab attention, experts say now is also the perfect time to rethink your banking setup and look for value beyond the checkout.

Aussies are shopping smarter in 2025

According to new research from PayPal, the overwhelming majority (85%) of Australians say they’re more price-conscious than they were five years ago, and over three quarters (76%) believe online sales events can help manage cost-of-living pressures.

Nearly half (47%) are looking to cut back on daily expenses to free up room for EOFY spending, while more than two thirds (42%) plan to stick to a strict budget.

Mozo banking expert Peter Marshall suggests EOFY is an opportunity to not only think about what you’re buying, but how you’re handling your money. “Since most everyday accounts are pretty similar, finding one with helpful features and extras can save you money – not just during sales but all year round,” he said.

Complaints data highlights need for better banking

The Australian Financial Complaints Authority (AFCA) banking and finance annual review found complaints related to banking and finance were up 12% year-on-year. Notably, complaints about online accounts rose by 36%, while personal transaction accounts saw a 20% increase in 2024.

These figures suggest that many Australians are dissatisfied with their current banking services, emphasising the importance of choosing an account that meets your needs.

Is your bank account helping or holding you back?

Everyday bank accounts rarely offer interest, but that doesn’t mean they’re all equal. In 2025, some providers offer extra value, including:

  • Cashback offers on eligible spending
  • Linked high-interest savings accounts
  • In-app budgeting tools to track EOFY purchases
  • No international transaction fees for online overseas orders
  • Spending limits and temporary blocks to control account use

With digital wallets, mobile payments and debit card use consistently increasing, now may be a good time to reassess whether your account supports your spending habits.

Compare bank accounts to spend smarter this EOFY

  • Everyday Edge Account

    Account fee
    $0.00
    Payment options
    Apple Pay, Google Pay, PayID, Samsung Pay
    Interest rate
    0.00 % p.a.
    Go to site

    This bank account has no account keeping fees to pay. There are unlimited fee-free domestic transactions. Safe and secure digital banking. Fee-free card purchases and cash-out transactions in-store. Free access to thousands of ATMs nationwide. For customers 18 or over.

  • Spend Account

    Account fee
    $0.00
    Payment options
    Apple Pay, Google Pay, PayID, Samsung Pay, Garmin Pay
    Interest rate
    0.00 % p.a.
    Go to site

    This account works hand in hand with the USave account. No monthly fees on any of your spend accounts. No uBank international fees to pay. Get instant access to Apple Pay and Google Pay. Plus you could go into the draw to win 1 of 50 cash prizes by signing up and using your Ubank Visa Debit Card between now and 30 June 2025 (T&Cs apply).

  • Everyday Options Account

    Account fee
    $0.00
    Payment options
    Apple Pay, Google Pay, PayID
    Interest rate
    0.01 % p.a.
    Go to site

    Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.

  • Orange Everyday

    Account fee
    $0.00
    Payment options
    Apple Pay, Google Pay, PayID, PayTo
    Interest rate
    0.00 % p.a.
    Go to site

    ING’s Orange Everyday bank account offers no monthly fees and 1% cashback on eligible utility bills up to $100 (T&Cs apply). Experts Choice Awards Highly Commended Everyday & Savings Bank 2025^

  • Everyday Account

    Account fee
    $0.00
    Payment options
    Apple Pay, Google wallet
    Interest rate
    0.00 % p.a.
    Go to site

    In addition to $0 monthly account-keeping fees and 24/7 real human support, you can turn your everyday banking into Qantas Points. Link your Qantas Frequent Flyer account to your AMP Bank GO Everyday Account, in AMP Bank GO and earn 1 point for every $10 on your average monthly balance. T&Cs apply.

^See information about the Mozo Experts Choice Bank Account Awards

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