Bank Account Awards 2020

Congratulations to the 2020 winners of Mozo Experts Choice Awards for Bank Accounts. We’ve compared hundreds of bank accounts for this year’s awards, so if you’re after the perfect everyday account for all your spending needs, start your search right here.

Mozo Experts Choice Awards 2020 Badge

What are the Mozo Experts Choice Awards?

Now in their seventh year, the Mozo Experts Choice Awards are a place where we highlight the products out in the market, that we believe offer great value to Australians.

For the 2020 bank account awards, we analysed 188 personal transaction products issued by 75 Australian financial institutions.

“With a myriad of everyday bank accounts, your options seem almost endless when trying to find the one that’s right for you.” said Peter Marshall, Mozo Experts Choice Awards judge.

“Accessing your money when you want and where you want is important when it comes to choosing a transaction account. You’ll find accounts with no account keeping fees, fee-free withdrawals and more, so why not let our winners help you down the right track?”

For details on how we crunched the numbers and determined our winners see our 2020 Mozo Experts Choice Awards Bank Accounts & Savings methodology report.

Everyday & Savings Bank of the Year

Up was the only financial institution to take out wins in the Exceptional Everyday Account, Regular Saver and Excellent Banking App award categories, indicating to the judges that it’s suite offered a leading solution to everyday banking and savings needs. Even though its services remain app-only and they do not offer term deposits as yet, we felt this new breed of bank deserved special recognition.

Exceptional Everyday Account

This award recognises everyday transaction and bank accounts that not only offer largely fee-free banking, but provide extra value, such as fee-free banking for overseas transactions or rewards points. 144 products from 80 providers were considered in the selection of this award.

Bankwest logo


Qantas Transaction Account

BOQ Specialist logo

BOQ Specialist

Everyday Plus Account

Citi logo


Global Currency Account

Citi logo


Plus Transaction Account

ING logo


Orange Everyday

Macquarie logo


Transaction Account

Macquarie logo


Platinum Transaction Account

UBank logo


USpend Transaction Account

Up logo


Everyday Account

Xinja logo


Bank Account

Best New Transaction Account

With plenty of new banking competition in the last 12 months, we awarded what we determined to be the leading new transaction product. Xinja’s bank account not only offers a fee-free service domestically, but also no overseas ATM or transaction charges.

Xinja logo


Bank Account


Student Bank Account

Designed specifically for students aged up to 24 years old, we looked at 47 transaction accounts from 37 financial institutions and determined these accounts as front-runners that offer lower international transaction fees than their peers.

Community First Credit Union logo

Community First Credit Union

Student Starter

WAW Credit Union logo

WAW Credit Union

Youth Transact


Pensioner Account

After researching and identifying all pensioner accounts that offer fee-free day-to-day banking, we used rates below and above the deeming threshold to choose these leading pensioner accounts. 54 accounts from our database were considered in this award.

BankVic logo


Pension Plus

Firefighters Mutual Bank logo

Firefighters Mutual Bank

Pension Advantage

Goldfields Money logo

Goldfields Money


Health Professionals Bank logo

Health Professionals Bank

Pension Advantage Account

P&N Bank logo

P&N Bank

& Retirement Account

Teachers Mutual Bank logo

Teachers Mutual Bank

Pension Advantage Account

UniBank logo


Pension Advantage



Frequently Asked Questions

What’s the Judging Criteria for the awards?

Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers.

See our methodology report for more detailed information on how we performed product comparisons and determined the final winners for the Bank Accounts & Savings awards.


Did you compare all bank accounts in the market for these awards?

We aim to include most bank account & savings providers in the market in the Mozo Experts Choice Awards. However, not every financial institution product on the market will be included in our review.  Any product we review must be available in the market at the time of our analysis. 


How do I choose the best bank account for me?

There’s a reason why there are so many different categories of Mozo Experts Choice Awards in Bank and Savings Accounts. When you’re looking for a bank account you’ll want to think carefully about how you’ll use the account, how much you’ll be depositing and where you need to spend your money. By comparing the features in our winners list, you can see which bank better suits your personal banking needs when making your decision in finding the one that’s best for you.


Who are the Mozo’s experts?

The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost three decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.


I work for a financial institution, how do we promote our win?

Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.