It’s time to meet 86 400 - the Australian smartbank making finance simple

Tom Watson

06 Dec 2019

86400 card and app content

86 400. It’s a big number, but what, if anything, does it have to do with banking? 

No it’s not the international dialing code for Mongolia, nor is it (unfortunately) the opening balance 86 400 will give you when you open a new bank account with them. 

“There are 86,400 seconds in a day and our name represents that we’re helping Australians feel in control of their money, every second of every minute of every day. All eighty-six four hundred of them.” 

That’s the story behind the name according to 86 400, but as their name suggests, they’re hardly a normal bank. In fact, 86 400 is a self-described smartbank - what we’d call a neobank or digital bank here at Mozo. 

So what makes 86 400 so smart? 

Well for one thing 86 400 has been purpose-built for smartphones (get it?), plus they’ve also developed a bundle of ‘smart’ tools and features to help make the financial lives of their users a little bit simpler. 

Think things like spending and bill predictions, savings reminders and the ability to connect external accounts from over 150 other Australian financial institutions all within the 86 400 app. 

Aside from their smart features, 86 400 has also launched a number of products worth a mention including a bank account (with digital wallet compatibility), a savings account (with a seriously competitive maximum rate) and even home loans (the first Aussie neobank to do so). 

That’s a pretty impressive output for a bank that was founded in 2017, received their full banking licence in July 2019 and only officially launched in September 2019. 

“While a neobanks’ main selling point is the promise of a great app experience, if 86 400 want to continue to grow their slice of the market they are going to have to maintain really competitive products like a great savings account and home loan rate,” said Mozo Banking Expert, Peter Marshall. 

“Currently their ongoing savings account rate is right at the top of the Mozo database and we’d expect them to maintain that sort of positioning in the future.”

So be honest, we’ve piqued your interest just a tad haven’t we? If that’s the case, keep on reading because we’ve wrapped up some short answers to the big questions frequently asked about 86 400.

86 400 frequently asked questions (FAQs) 

Is 86 400 a real bank? 

They certainly are. 86 400 are an authorised deposit-taking institution (ADI) regulated by APRA just like every other bank in Australia including major banks like CommBank and Westpac. This also means that any money you deposit in an 86 400 bank account or savings account (up to $250,000 per person) is protected under the Australian Government’s deposit guarantee scheme

What kind of products does 86 400 have? 

Currently 86 400 have a Pay Account and Save Account as well as the Own Home Loan and Own Home Loan (Fixed) available for both owner occupiers and investors. Check out the linked reviews for even more information about each product. 

Does 86 400 have branches? 

No. As an app-based bank 86 400 are only available via smartphone. There are a couple of ways you can contact 86 400 if you need to though, including by sending them a message on their website or by giving them a call. 

Does 86 400 have Apple Pay, Google Pay or Samsung Pay? 

Yes, 86 400 allows you to link your 86 400 debit card to all of the major digital wallet options so you can pay with your phone via Apple Pay, Google Pay and Samsung Pay or via a smart watch with Garmin Pay or Fitbit Pay. 

Can I use 86 400 overseas? 

You sure can. You’ll be able to pack the 86 400 visa debit card for your next overseas trip, plus it comes with handy travel features such as $0 international ATM fees (ATM providers may charge one though) as well as a competitive 1.50% foreign exchange commission.

What happens if I lose my phone? 

Given your 86 400 bank account and savings account will only be accessible via the 86 400 app, it’s perfectly reasonable to want to know what would happen if you lose or break your phone. 

You’ll still be able to use your 86 400 debit card (unless you choose to lock or cancel it), but when it comes to actually accessing your account you’ll need to download the app again on another phone (like a friend or family members). 

How do I sign up to 86 400? 

To sign up to 86 400 you’ll first need to download the 86 400 app via the App Store or Play Store depending on your phone. 86 400 says that signing up can be done is as little as two minutes, though you will need to be an Australian citizen or permanent resident and at least 16 years to do so. You’ll also need some sort of ID like a drivers licence, passport or Medicare card.

Ready to learn more about 86 400? Get acquainted with our full 86 400 review, or see how it compares with some of Australia’s other new digital players over at the Mozo neobanks comparison hub.

Savings accounts 2019

Rates updated daily. Advertiser disclosure.

  • Promoted

    Virgin Money

    Virgin Money

    Boost Saver with Go Account

    1.50% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    *Intro bonus rate of 1.50% for first 3 months, reverting to 1.20% after. Bonus interest only applies when you deposit $2,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month. If you are between 18 and 25 you need to deposit $1,000 and fulfil the other criteria.

  • Promoted



    Online Saver

    1.10% p.a. (for $0 to $500,000)

    0.35% p.a.(for $0 and over)

    Yes up to $250,000

    *Bonus rate for the first 4 months from account opening

  • Promoted

    Virgin Money

    Virgin Money

    Grow Saver

    0.65% p.a. (for $0 and over)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    *Make at least 1 deposit and no more than 1 withdrawal, including internal transfers or external payments.

  • Promoted

    Bank of Queensland

    Bank of Queensland

    Fast Track Saver Account

    1.05% p.a. (for $1 to $250,000)

    0.05% p.a.(for $1 and over)

    Yes up to $250,000

    *Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account.

  • Promoted



    High Interest Savings Account

    1.35% p.a. (for $0 to $250,001)

    0.25% p.a.(for $0 to $250,001)

    Yes up to $250,000

    *Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.