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

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

Search promoted savings accounts below or do a full Mozo database search . Advertiser disclosure.
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    Future Saver Account - 14 to 35 years

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    3.00% p.a. (for $0 to $50,001)
    0.05% p.a.(for $0 and over)
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    Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions. Bonus interest criteria waived for account holders 14-17 years of age.

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    Mozo Experts Choice 2022
    AMP Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.35% p.a. (for $0 to $250,000)
    0.10% p.a.(for $0 to $5,000,000)
    Yes up to $250,000

    Minimum deposit of at least $250 in the previous month.

    An ongoing total variable bonus rate of up to 1.35% per annum will apply each month if you deposit $250 in the previous month. Available only on balances up to $250,000. AMP Bank, winner of the Mozo Experts Choice Awards 2022 in the Savings category.^

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    Mozo Experts Choice 2022
    High Interest Savings Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    2.10% p.a. (for $0 to $250,001)
    1.00% p.a.(for $0 to $250,001)
    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.

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  • placeholder
    Smart Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    2.00% p.a. (for $0 to $250,001)
    0.05% p.a.(for $0 and over)
    Yes up to $250,000

    Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions.

    BOQ’s high interest savings account lets you enjoy bonus interest each month when you meet the criteria. No monthly fees. Link up to 9 eligible transaction accounts. Round up your transactions. For customers aged 36 years and over. Apply in minutes.

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