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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
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 accounts
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$0.00
Apple Pay, Google Pay, PayID, Samsung Pay, Garmin Pay
0% p.a.
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
Read reviews and learn more about MyState Bank bank accounts
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$0.00
Apple Pay, Google Pay, PayID, PayTo
0% p.a.
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Read reviews and learn more about ING bank accounts
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$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 2024 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 2024 winner for Exceptional Everyday Account.^
Read reviews and learn more about HSBC bank accounts
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5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Deposit $1,000 into a personal ING account, make 5 eligible transactions with a linked Orange Everyday account and grow the balance each month.
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Read reviews and learn more about ING savings accounts
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5.00% p.a. (for $0 and over)
0.50% p.a.(for $0 and over)
Yes up to $250,000
Bonus interest for the first four months from the account opened date. No minimum balance required. No monthly or ongoing fees or withdrawal penalties. Manage your money easily via phone or online banking or via the BCU Bank app.
Bonus interest for the first four months from the account opened date. No minimum balance required. No monthly or ongoing fees or withdrawal penalties. Manage your money easily via phone or online banking or via the BCU Bank app.
Read reviews and learn more about BCU Bank savings accounts
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5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Deposit at least $20 each month and make 5 Visa Debit transactions with a linked Glide account.
Open a Bonus Saver Account in under 5 minutes. There are no fees to pay or penalties for withdrawing money. Get a seamless personalised insights and online statements via the My State Bank app.
Open a Bonus Saver Account in under 5 minutes. There are no fees to pay or penalties for withdrawing money. Get a seamless personalised insights and online statements via the My State Bank app.
Read reviews and learn more about MyState Bank savings accounts
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No Current Offer
4.70% p.a.(for $1 and over)
Yes up to $250,000
Unlimited access 24/7 via Banking App, Phone & Internet Banking. Interest is calculated daily and paid monthly. No transaction fees or monthly service fees. No minimum balance or withdrawal restrictions. Online access only.
Unlimited access 24/7 via Banking App, Phone & Internet Banking. Interest is calculated daily and paid monthly. No transaction fees or monthly service fees. No minimum balance or withdrawal restrictions. Online access only.
Read reviews and learn more about Unity Bank savings accounts
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4.50% p.a. (for $0 and over)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Increase account balance by any amount and make no more than two withdrawals
Work towards your savings goals with this account. Earn bonus interest when you grow your balance and make no more than 2 withdrawals each month. Earn a guaranteed standard rate of interest each month on your savings. No monthly account keeping fees to pay. Use the app or internet banking to manage your account 24/7.
Work towards your savings goals with this account. Earn bonus interest when you grow your balance and make no more than 2 withdrawals each month. Earn a guaranteed standard rate of interest each month on your savings. No monthly account keeping fees to pay. Use the app or internet banking to manage your account 24/7.
Read reviews and learn more about Newcastle Permanent 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.
Excellent and convenient
Read full reviewExcellent and convenient
The CBA has been my bank for many years. I have held many accounts with it, and I have enjoyed my association with the bank. As with most banking institutions the dependence upon internet banking can be a bit off-putting if you aren't that computer literate, but they do have an excellent customer service to assist their customers in this regard.
Read full reviewThe CBA has been my bank for many years. I have held many accounts with it, and I have enjoyed my association with the bank. As with most banking institutions the dependence upon internet banking can be a bit off-putting if you aren't that computer literate, but they do have an excellent customer service to assist their customers in this regard.
I like National Australia Bank (NAB) for its reliable online banking, user-friendly app, and wide branch network, making it easy to access services. Their customer support is generally helpful, and they offer competitive savings and loan products.
Read full reviewI like National Australia Bank (NAB) for its reliable online banking, user-friendly app, and wide branch network, making it easy to access services. Their customer support is generally helpful, and they offer competitive savings and loan products.
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Your selected bank accounts