What to look for when switching bank accounts

Bank accounts have become a standard part of our everyday life. Because of this, it’s important to make sure that your provider is offering an account that works for your needs.
Comparing bank account features
Just like savings accounts, bank accounts have a range of differing features between providers. Part of this variance is that bank accounts are usually linked to a savings account from the same provider. This can change which features are available between the two. In some cases, transaction accounts will even double as a savings account
So, what are some of the features that you should look out for?
1. Reduced or no fees
Monthly maintenance fees, ATM withdrawal fees, and overseas transactions can slowly eat into your funds. Thankfully, as banks become more digital, maintenance fees have become less common. Still, if you frequently pay various charges, consider switching to a more cost-effective option.
2. Enhanced digital banking experience
As the digital world evolves, so should your banking experience. If your current bank’s app or online banking platform feels outdated, lacks features, or is not user-friendly, you might want to look for a bank that offers a more modern, secure, and feature-rich digital banking experience. This can make managing your finances more efficient and enjoyable.
3. Better customer service
The quality of customer service can make a huge difference in your banking experience. If you're experiencing poor service, long wait times, or unhelpful responses, it’s a sign to switch. Banks that prioritise customer service provide a smoother and more supportive banking journey.
4. Aligning with your lifestyle and goals
Your banking needs can change over time based on your lifestyle, financial goals, and personal values. For instance, if you’ve become more environmentally conscious, you might prefer a bank emphasising sustainable practices. Or, if you’re planning to travel extensively, an account with no foreign transaction fees could be ideal.
5. Incentives for switching
Banks often offer incentives to attract new customers – from cash bonuses to reward points. While these offers should not be the sole reason to switch, they can be a nice bonus if the bank already meets your other criteria.
6. Seeking better interest rates
While interest rates are usually associated with savings accounts, some transaction accounts offer interest on your balance. Also, some savings accounts need a connected transaction account, so it’s also useful to check if your transaction account has a high interest savings account with it.
Not sure where to compare bank account and debit card providers? You can click the links to our hub pages or check out some of the providers in the table below…
Bank account comparisons on Mozo
-
Mozo experts choice awards won:
- Exceptional Everyday Account - 2025
- Travel Debit Card - 2025
Everyday Edge Account
$0.00
Apple Pay, Google Pay, PayID, Samsung Pay
0% p.a.
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.
CompareCompareEveryday Edge Account
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.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID, Samsung Pay
- interest rate
- 0% p.a.
- ATM networks
- -
- What kind of card?
- Visa Debit or
EFTPOS
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited free transactions from counter deposit, phone, internet and EFTPOS. Free counter withdrawals.
Read reviews and learn more about Great Southern Bank bank accounts
-
Orange Everyday
$0.00
Apple Pay, Google Pay, PayID, PayTo
0% p.a.
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^
CompareCompareOrange Everyday
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^
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay, PayID, PayTo
- 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). 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 reviews and learn more about ING bank accounts
-
Everyday Global Account
$0.00
Apple Pay, Google Pay
0% p.a.
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2025 winner for Exceptional Everyday Account.^
CompareCompareEveryday Global Account
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2025 winner for Exceptional Everyday Account.^
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Pay
- interest rate
- 0% p.a.
- ATM networks
- HSBC
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited free transactions from HSBC ATMs, EFTPOS, phone, internet, BPAY and direct debits
Read reviews and learn more about HSBC bank accounts
-
Everyday Options Account
$0.00
Apple Pay, Google Pay, PayID
0.01% p.a.
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.
CompareCompareEveryday Options Account
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.
- 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 reviews and learn more about Suncorp Bank bank accounts
-
Choice
$5.00$0 monthly account fee for 12 months when you open an account by 30 May 2025. Account fee is also waived for customers that deposit at least $2,000 per month.
Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, Digital Card
0% p.a.
Enjoy no monthly account-keeping fees for the first 12 months, for deposits of $2,000 a month or for eligible customers. No withdrawal fees at branded and select non-branded ATMs. No international transfer fees when sending foreign currency overseas via Online Banking or the Westpac App. Unlimited free transactions and account enquiries.
CompareCompareChoice
Enjoy no monthly account-keeping fees for the first 12 months, for deposits of $2,000 a month or for eligible customers. No withdrawal fees at branded and select non-branded ATMs. No international transfer fees when sending foreign currency overseas via Online Banking or the Westpac App. Unlimited free transactions and account enquiries.
- account fee
- $5.00$0 monthly account fee for 12 months when you open an account by 30 May 2025. Account fee is also waived for customers that deposit at least $2,000 per month.
- Payment Options
- Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, Digital Card
- interest rate
- 0% p.a.
- ATM networks
- Westpac, St.George, BankSA, Bank of Melbourne
- What kind of card?
- Debit Mastercard
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited free transactions from internet, phone, network ATMs, EFTPOS, BPAY, branch deposits and withdrawals, and cheque.
Read reviews and learn more about Westpac bank accounts
Your selected bank accounts
Your selected bank accounts
Your selected bank accounts
Your selected bank accounts
Your selected bank accounts
^See information about the Mozo Experts Choice Bank Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.