86 400 logo

86 400

Product snapshot

Transaction accountYes
Savings accountYes
Home loansYes

About 86 400

86 400 might seem like a strange name, especially for a bank, but that figure actually comes from the number of seconds in a day. But what does that have to do with banking? Launched in September 2019, 86 400 is one of Australia’s pioneering neobanks, and it's all about giving Aussie customers easy access to their money and real time information about their finances - every second of the day. 

That’s why the digital bank has developed a totally new, mobile-based platform that uses technology to provide better money insights, more personalised savings tools, minimal fees and products with some seriously appealing features. 

Founded in 2017 by payment solutions provider Cuscal, 86 400 is currently (as of December 2021) part of major bank NAB.  

Best of all, 86 400 is a fully authorised Authorised Deposit-taking Institution (ADI), having received the tick of approval from financial regulator APRA back in July 2019. That means 86 400 are able to offer their very own home loans, transaction accounts and savings accounts - all of which are accessible through the 86 400 mobile app. But more on these below.

86 400's products

As a digital bank, 86 400 have made a point of promising ‘smart banking’ for Australian users, and if the 86 400 home loans, transaction account and savings account are anything to go by, they’re off to a great start. So let’s take a closer look at the accounts 86 400 have already launched and some of the products that are likely to come down the track: 

86 400 Own Home Loans

Variable rateLVR < 60%: From 2.29% (2.58% comparison rate*) 

LVR < 70%: From 2.44% (2.73% comparison rate*)

LVR < 80%: From 2.44% (2.72% comparison rate*)

LVR < 85%: From 2.74% (3.02% comparison rate*)
Fixed 2 year rate From 1.89% (2.51% comparison rate*) 
Offset AccountYes

As the first neobank to launch home loans in Australia, 86 400 have set the bar high with some seriously competitive variable and fixed rates and useful features. Get up to date with all the details by having a read of our 86 400 Own Home Loan and Own Home Loan (Fixed) reviews.      

86 400 Spend Account

Account fee$0
Australian ATM feeMajor banks free
Foreign transaction fee0%
Overseas ATM fee$0

86 400 have thrown down the gauntlet as a bank that wants to keep fees to a minimum, and their Spend Account certainly delivers with no account, foreign transaction or foreign ATM fees. Check out the full 86400 Spend Account review for even more details.

86 400 Save Account

Interest rate0.10% ($0 and over)
Maximum interest rate1.20% (for $0 to $50,000)*
Account fee$0

There’s a lot to like about the Save Account, including the maximum interest rate which currently sits among the best in the Mozo database at 1.20% for savers that deposit at least $200 a month into either 86 400 account. Get familiar with all the features by reading our full 86400 Save Account review.

86 400's app features

Like their banking products, there’s a lot to get excited about with the 86 400 mobile app including a few new and innovative features you’d expect from a digital bank. Here are a few that we think stand out at the moment, but according to 86 400, there are also plenty more in the pipeline: 


Instant transfers

86 400 has revealed that its Core Banking Platform has been set up to allow real-time payments. What that means is (near) instant transfers between 86 400 users and other eligible Australian bank accounts over the NPP (New Payment Platform) using money transfer service Osko


Smart alerts

Always forget your upcoming bills? Well 86 400’s app is able to learn from your transaction history and automatically predict when any regular payments (from over 200 companies) are due. And 86 400 will even give you a nudge if you’re falling short of your monthly savings requirement so you don’t miss out on your interest - something most banks don't do.


External data integration

Forget about just providing smart banking from day one. 86 400 are determined to wind back the clock and provide customers with insights based on their old transaction history as well! To do this, users will be able to connect to their accounts from over 150 Australian financial institutions, and that data will be synced in the 86 400 app. 


The latest mobile payment options

86 400 wouldn’t be much of a digital bank if they didn’t provide the latest mobile payment options and digital wallets, and in this respect they haven’t let mobile lovers down. Depending on your smartphone, you’ll be able to set up your 86 400 debit card with Apple Pay, Google Pay,  Samsung Pay, Fitbit Pay or Garmin Pay, so you can pay as you go without your piece of plastic. 

Is banking with 86 400 right for you?

As a digital bank, 86 400 will appeal to a bunch of different people. First of all, it provides a mobile-only banking experience, so if you’re the kind of person who loves banking (or doing anything really) on their phone, then 86 400’s features, products and tools have been designed specifically with you in mind.  

Speaking of technology, because its platform is fully digital (i.e cheaper to run) 86 400, like other neobanks, are promising to keep their fees and rates seriously competitive. And they’ve already got off to a good start with their Pay and Save accounts.   

86 400 is still a bank though, in the sense that it is governed by the same rules and regulations as Australia’s major banks, online banks, mutual banks and credit unions. That means it comes with the same safeguards as well, so if anything did go wrong with 86 400, deposits with the neobank of up to $250,000 (per person) would be guaranteed by the Australian Government.     

86 400 isn’t going to be the right option for everyone though. Because it’s only recently launched it doesn’t have the full suite of products that other banks have on offer just yet (though it's getting there). Because it’s a neobank customers won’t be able to do their banking with 86 400 through a branch or over the phone (calling that is). It’s worth noting that you will be able to call up 86 400 if you do have a problem with your card or your account though.

How do I sign up to 86 400?

Joining 86 400 is a piece of cake. First of all you’ll need to download the 86 400 mobile app and then sign up for an account through the app.  

You will need to provide a few details while signing up though, including an Australian drivers licence, your passport or your Medicare card. You’ll also need to be at least 16 years old and an Australian citizen or permanent resident in order to join. 

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86 400