Bank of Melbourne app review

Bank of Melbourne award winning app

About Bank of Melbourne 

As a local bank, Bank of Melbourne is committed to serving the banking needs of Victorian residents. Although they operate only in Victoria, they’re also part of Australia’s largest regional banking network, together with St.George and BankSA.

Bank of Melbourne offers a whole assortment of products, including savings accounts, home loans and credit cards, and has scooped a number of Mozo Experts Choice Awards over the years, including in 2021.

What does the Bank of Melbourne app do? 

There’s a lot to love about the Bank of Melbourne app, which is why it’s picked up a 2021 Mozo Experts Choice Award for Excellent Banking App. Available on iOS and Android, the app is packed with features, like the ability to view your balance without logging in, make transfers easily between accounts, set up notification alerts, and categorise your spending.

Features we love 

With the Bank of Melbourne app covering such a broad range of features, we’ve highlighted a few standout ones that we were especially impressed by.

The first feature is the spend tracker, which categorises expenses so that users can more easily see where their money is going. All of your monthly transactions are grouped into categories (e.g. ‘bills and payments’, ‘food and beverage’, ‘entertainment and recreation'), and you're also able to tap and view subcategories for a more detailed breakdown of your spending. 

If you’re an Apple Watch user, you’ll be happy to know that you can pair your smart watch with your Bank of Melbourne app and automatically view your balance or find the nearest ATM while you’re on the go. Only 26% of the apps assessed in the 2021 Mozo Experts Choice Awards offered this feature.

There’s also the option to set up seven types of alerts to help you stay on top of your finances. You can choose to receive notifications about any deposits, withdrawals, debit dishonours or upcoming credit card repayments, as well as your daily balance and whether your balance is low or high.

Another handy bell and whistle of the Bank of Melbourne app is its expense splitter, which helps you coordinate payments for any shared expenses that you’ve initially covered, like a restaurant bill or the monthly rent. This feature shows you who’s paid you back, and you can also send your friends a SMS of the amount they still owe you.

Finally, this app has a secure chat function, offered by only 16% of all apps we considered. This means that if you aren’t a fan of waiting on the phone to reach customer support, Bank of Melbourne gives you the option to contact their team via the app, without having to go through any security questions. 

As for the Bank of Melbourne’s other app features, you can look forward to the following: 

  • Compatibility with Apple Pay, Google Pay, Samsung Pay and PayID
  • Fingerprint login for an extra layer of security
  • Cardless cash withdrawals - up to $500 in one day or $1,000 in one week
  • New transaction accounts can be applied for in-app, and if you aren’t with Bank of Melbourne yet, you can also sign up via the app 
  • Ability to notify the bank if you’re going overseas so your transactions abroad don’t accidentally get blocked for security reasons 
  • Ability to temporarily lock your card for up to 15 days if you lose it or have it stolen. 

We’re not so hot on… 

While the Bank of Melbourne app offers smartwatch integration, be mindful that it doesn’t allow you to connect to Garmin Pay or Fitbit Pay, so you won’t be able to pay with your smartwatch.  

Other banking app reviews by Mozo 

Interested in seeing how the Bank of Melbourne app compares to other award-winning apps in the market? Check out our verdict of all the other providers that snagged an Excellent Banking App award this year: