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A bank account is a place to store and access your money for everyday transactions. Bank accounts are different from savings accounts as they usually don’t pay interest. Start comparing bank accounts below.
$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.
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.
Read reviews and learn more about Great Southern Bank bank accounts
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$0.00
Apple Pay, Google Pay, PayID, PayTo
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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^
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^
Read reviews and learn more about ING bank accounts
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$0.00
Apple Pay, Google Pay
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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.^
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.^
Read reviews and learn more about HSBC bank accounts
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$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.
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.
Read reviews and learn more about Suncorp Bank bank accounts
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$0.00
Apple Pay, Google Pay, PayID, Samsung Pay, Garmin Pay
0% p.a.
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.
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.
Read reviews and learn more about ubank bank accounts
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Read reviews and learn more about Rabobank savings accounts
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Read reviews and learn more about BCU Bank savings accounts
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In the era of low interest rates, you might think there are better things to do with your cash, than put it in a bank. But a bank is still considered the safest place for your money. And you might be surprised to learn that banks, and the accounts they offer have come a long way.
Whatever your aims, Mozo, has the simple tools you need to compare accounts from up to 70 banks. As we move towards a cashless economy, everyday transaction accounts with online banking and digital payment options are becoming more than just a convenience - they are essential.
Many banks now offer fee-free accounts that can save you plenty if you make lots of transactions. And, if you travel regularly, there are also savings to be made with a bank account that waives international ATM and transaction fees.
Even if interest rates are super low, you can still boost your savings with accounts that reward you for making regular deposits, as long as you can avoid the temptation to make withdrawals for that special something you probably don’t really need.
If your best option is to lock your money away for a while, you can amp up your interest with a term deposit for a variety of amounts over different periods.
Head to Mozo.com.au to compare bank accounts and find a great way to manage and grow your money.
The term ‘bank account’ usually refers to a standard transaction account used to store money. Money can either be deposited as cash or transferred electronically from another account.
Similarly a bank account usually comes with a card that can be used to withdraw cash from an ATM or make EFTPOS payments with. As the economy has been increasingly digitised, most bank account providers also offer everyday transaction accounts as online apps.
Accounts can come bundled together with, or as a requirement to use, certain savings accounts.
Transaction accounts (also known as everyday accounts) are bank accounts that are intended for spending and receiving income. These accounts are also used for managing cash and transferring funds to savings accounts and term deposits.
Banking has come a long way in recent years and apps and digital wallets are now very popular among Australian consumers.
These accounts allow you to access your bank account from your smartphone and give you access to many cool features like spending, tracking and money management alerts that you don't get with regular online banking.
It has also become extremely popular to pay with things via digital wallets like Apple Pay, Samsung Pay and Google Pay rather than using the physical card that you get issued with when you sign up for a new bank account.
You can compare bank accounts by checking out some of the features of bank accounts, which include:
ATM network - does the bank have a wide ATM network?
Banking app - how useful is the banking app? Does it come with a lot of benefits?
Overseas access - can the account be accessed overseas?
You should also weigh up any extra fees, such as:
International fees - are there any high international fees associated with the account? What is the foreign exchange commission?
Regular fees - does the bank charge a monthly account keeping fee?
You can also check out our best bank accounts page for our Mozo Experts Choice Awards and editor picks. Alternatively, you can compare some of the providers in the table above.
You’ll need to meet the eligibility criteria—often this means you should be at least 18, an Australian resident, and using the account for personal purposes. Then, choose a suitable account based on your needs. Once decided, you can either open the account online or at a local branch. Then, you'll need to provide identification documents like a driver's license or passport. After that, you’re all set.
Most bank accounts provide a debit card for withdrawals and purchases. Many banks also now offer digital wallet options like Apple Pay, Samsung Pay, and Google Pay, allowing for cardless payments. You can compare accounts with debit cards using comparison tables, and check mobile payment guides to see which banks support digital wallets.
To maintain a healthy bank balance, use a budget calculator to track spending and savings. An income tax calculator can help ensure you're paying the correct amount of tax. For personal accounts, explore transaction account options. If you need a business account, check out our Business Bank Accounts.
To cancel a transaction from your bank account, contact your bank immediately with the transaction details. They'll guide you through their specific cancellation process, but keep in mind that some transactions can't be reversed. Check your bank's policies for more information on their cancellation procedures.
A transaction account that has low (or no fees) and has a good app for ease of access is usually a good choice.
I've always loved the Commonwealth bank.i haven't been back with them for long so I'm still deciding what s next but so far so good AaAa.
Read full reviewI've always loved the Commonwealth bank.i haven't been back with them for long so I'm still deciding what s next but so far so good AaAa.
The ANZ bank is a great bank and they r always kind and polite to me every time I go to the branch.,the only thing I don't like is they close at 1!30 now....
Read full reviewThe ANZ bank is a great bank and they r always kind and polite to me every time I go to the branch.,the only thing I don't like is they close at 1!30 now....
Why I Like ANZ Wide Branch/ATM Network: As one of Australia’s “Big Four” banks, ANZ has a large presence, making it relatively easy to find branches and ATMs in most populated areas. Solid Digital Banking: ANZ’s online portal and mobile app are user-friendly, with features like real-time transaction updates, card lock/unlock, and facial or fingerprint login. Potential Drawbacks Fees and Charges: Some everyday accounts may have monthly account-keeping fees or withdrawal fees if you use non-ANZ ATMs. It’s worth comparing different account types or inquiring about fee waivers. Interest Rates: Like many traditional banks, savings interest rates may not always be as competitive as certain online-only or neobank alternatives. Customer Support Wait Times: While service is generally helpful once you get through, wait times for phone support can sometimes be lengthy, especially during peak hours. ANZ is a reliable, well-established bank offering comprehensive services suitable for most everyday banking needs. It excels in accessibility and digital tools, though you might encounter higher fees and average interest rates compared to some newer market players. If convenience and security from a major institution matter most, ANZ could be a great choice. If you prioritize minimal fees or higher savings returns, it’s worth shopping around.
Read full reviewWhy I Like ANZ Wide Branch/ATM Network: As one of Australia’s “Big Four” banks, ANZ has a large presence, making it relatively easy to find branches and ATMs in most populated areas. Solid Digital Banking: ANZ’s online portal and mobile app are user-friendly, with features like real-time transaction updates, card lock/unlock, and facial or fingerprint login. Potential Drawbacks Fees and Charges: Some everyday accounts may have monthly account-keeping fees or withdrawal fees if you use non-ANZ ATMs. It’s worth comparing different account types or inquiring about fee waivers. Interest Rates: Like many traditional banks, savings interest rates may not always be as competitive as certain online-only or neobank alternatives. Customer Support Wait Times: While service is generally helpful once you get through, wait times for phone support can sometimes be lengthy, especially during peak hours. ANZ is a reliable, well-established bank offering comprehensive services suitable for most everyday banking needs. It excels in accessibility and digital tools, though you might encounter higher fees and average interest rates compared to some newer market players. If convenience and security from a major institution matter most, ANZ could be a great choice. If you prioritize minimal fees or higher savings returns, it’s worth shopping around.
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