Mobile banking apps are the best, according to Aussies

Let’s be honest, when’s the last time anyone actually visited a bank? And it seems we’re unlikely to ever again, according to new research from Roy Morgan.
Mobile banking (via a smartphone or tablet app) is hands-down the most popular banking method, producing an average customer satisfaction rating of nearly 90% among Australia’s Big Four Banks (CBA, Westpac, ANZ, and NAB). Nearly two thirds of Australians now use mobile banking as their top method for managing money.
Trailing at a close second is Internet banking (using a bank’s website), with an 86.8% average satisfaction rate. This is followed by in-person branch visits (82.6%), then lastly phone banking, which came in a dismal fourth at 77.4%.
Anything to avoid making a phone call, huh?
What are the advantages of mobile banking?

There are many key benefits offered by mobile and internet banking which might incentivise customers, chiefly enhanced accessibility, security, and clarity. Banking apps these days are no longer just the digital version of the bank: they often boast new user-friendly features like savings guides, budgeting tips and tools, and in-app chat platforms.
Now that open banking has been made mandatory, too, customers have more control and understanding than ever when it comes to managing their own money. The free-flow of data also fuels the development of cutting-edge technology in money apps, like the AI-learning in Finspo, a personalised finance app.
Is fintech the future of finance?
Digital banking and fintech are fast becoming the benchmark of modern financial management. This cultural shift has been super-charged by the pandemic, but we’ve been experiencing a trend toward tech-integration for a while now.
As such, these days there’s a veritable smorgasbord of money app options available for a range of financial needs and interests.
For instance, Buy Now Pay Later (BNPL) offers a handy alternative to the traditional credit card, while investment apps, digital wallets, and mobile payment apps like Beemit empower younger generations to take control of their money in a way that makes sense for them.
Neobanking, as opposed to traditional online banking, has also emerged as a new way of thinking about finance.
If you’re curious to learn more, we’ve written a nifty guide to fintech and what to pay attention to, including the pros and cons of neobanks.
Compare savings accounts - last updated 29 June 2022
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Future Saver Account - 14 to 35 years
Maximum rate
standard interest rate
Govt Deposit Guarantee
3.00% p.a. (for $0 to $50,001)0.05% p.a.(for $0 and over)Yes up to $250,000Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions. Bonus interest criteria waived for account holders 14-17 years of age.
Enjoy bonus interest each month when you meet the criteria. No monthly fees. Open an account in minutes. Open up to 9 accounts. Transaction round-up for faster saving. Personalised insights and goal tracking. For customers aged 14-35 years.
CompareCompareFuture Saver Account - 14 to 35 years
Enjoy bonus interest each month when you meet the criteria. No monthly fees. Open an account in minutes. Open up to 9 accounts. Transaction round-up for faster saving. Personalised insights and goal tracking. For customers aged 14-35 years.
- Maximum rate
- 3.00% p.a. (for $0 to $50,001)
- standard interest rate
- 0.05% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Everyday Account and 5 eligible transactions are made by the linked account. Bonus interest criteria waived for account holders 14-17 years of age.
- Access
- BPay, Branch access, Internet banking
- Minimum balance
- $1.00
- Other restrictions
Read our Mozo Review to learn more about the Future Saver Account - 14 to 35 years
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Mozo experts choice awards won:
- Regular Saver - 2022
- SMSF Savings Bank of the Year - 2022
AMP Saver Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
1.35% p.a. (for $0 to $250,000)0.10% p.a.(for $0 to $5,000,000)Yes up to $250,000Minimum deposit of at least $250 in the previous month.
An ongoing total variable bonus rate of up to 1.35% per annum will apply each month if you deposit $250 in the previous month. Available only on balances up to $250,000. AMP Bank, winner of the Mozo Experts Choice Awards 2022 in the Savings category.^
CompareCompareAMP Saver Account
An ongoing total variable bonus rate of up to 1.35% per annum will apply each month if you deposit $250 in the previous month. Available only on balances up to $250,000. AMP Bank, winner of the Mozo Experts Choice Awards 2022 in the Savings category.^
- Maximum rate
- 1.35% p.a. (for $0 to $250,000)
- standard interest rate
- 0.10% p.a.(for $0 to $5,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Ongoing total variable bonus rate of up to 1.35% per annum applies if customers deposit $250 in the previous month. Available only on balances up to $250,000.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Ongoing total variable bonus rate of 1.35% p.a. is earned on your account balance the month after you deposit $250 and is paid the following month. Available on balances up to $250,000. Maximum balance per customer name is $5,000,000.
Read our Mozo Review to learn more about the AMP Saver Account
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Mozo experts choice awards won:
- Kick Start Savings - 2022
High Interest Savings Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.10% p.a. (for $0 to $250,001)1.00% p.a.(for $0 to $250,001)Yes up to $250,000Bonus rate for the first 4 months from account opening
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
CompareCompareHigh Interest Savings Account
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
- Maximum rate
- 2.10% p.a. (for $0 to $250,001)
- standard interest rate
- 1.00% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the High Interest Savings Account
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Featured Product
Mozo experts choice awards won:
- Regular Saver - 2022
Bonus Saver Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
1.60% p.a. (for $0 to $250,000)0.05% p.a.(for $0 and over)Yes up to $250,000Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
CompareCompareBonus Saver Account
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
- Maximum rate
- 1.60% p.a. (for $0 to $250,000)
- standard interest rate
- 0.05% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the Bonus Saver Account
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Smart Saver Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.00% p.a. (for $0 to $250,001)0.05% p.a.(for $0 and over)Yes up to $250,000Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions.
BOQ’s high interest savings account lets you enjoy bonus interest each month when you meet the criteria. No monthly fees. Link up to 9 eligible transaction accounts. Round up your transactions. For customers aged 36 years and over. Apply in minutes.
CompareCompareSmart Saver Account
BOQ’s high interest savings account lets you enjoy bonus interest each month when you meet the criteria. No monthly fees. Link up to 9 eligible transaction accounts. Round up your transactions. For customers aged 36 years and over. Apply in minutes.
- Maximum rate
- 2.00% p.a. (for $0 to $250,001)
- standard interest rate
- 0.05% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Everyday Account and 5 eligible transactions are made by the linked account.
- Access
- BPay, Branch access
- Minimum balance
- $1.00
- Other restrictions
Read our Mozo Review to learn more about the Smart Saver Account
^See information about the Mozo Experts Choice Bank Account Awards
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