Best bank accounts in Australia

How to compare bank accounts

If our top bank account picks aren't right for you, here's what features to consider when you compare bank accounts.

Account fees

Look for a transaction account with no monthly account-keeping fees. If there are account fees, ask yourself if there are any extra features with the account to justify the fee as most accounts don't charge one.

Deposit conditions

Most bank accounts don't have a monthly deposit requirement. If there are monthly deposit conditions to meet, make sure it's an amount that you're comfortable with.

Account access options

Most of us want to bank online these days, with 98.9% of banking interactions taking place digitally according to the ABA. However if you still like to bank in branch, the best bank account for you will likely be one that has branch access (as many online banks don't).

Overseas fees and charges

If you like to travel regularly, the best transaction account for you could be one that doesn't charge overseas ATM fees or international transaction fees.

Linked savings account

If you're planning to open a savings account with the same bank, it's a good idea to look for one with a competitive interest rate.

Payment options

Make sure the bank account offers the payment options that you want. These might include BPAY, Apple Pay, Google Pay, Samsung Pay, PayID, tap and go with Visa payWave or Mastercard PayPass.

ATM access

If you use cash and cheques, a transaction account with a large ATM network and smart ATMs that accept cash and cheques might be best for you.

Joint account options

The best bank account for couples or friends who both want access to the account is a joint bank account.

Finder 2023 best banking awards

For 2023, Finder money experts picked the best banking products across savings and transactions accounts. Here are our winners for the best bank accounts and savings accounts in Australia:

Bank	Bank account awarded	Account features
	Macquarie Transaction Account: Best transaction account	No account keeping fees No overseas ATM fees or transaction fees Pays a refund on any local ATM fees Earn interest on your balance
	HSBC Everyday Global Account: Best bank account for travel	Hold 10 currencies at once Pay in the local currency Earn 2% cash back on Tap&Pay (T&C's apply) No account keeping fees No overseas ATM fees or transaction fees
	ING Savings Maximiser: Best savings account	One of the highest bonus rates in the market Ongoing bonus rate available each month No maximum age limits
	ING: Best bank account for customer satisfaction	92% of users we surveyed said they'd recommend it to a friend Customer satisfaction rating of 4.50 out of 5 No account keeping fees

You can learn more about these accounts and how they were assessed as part of our 2023 Finder Banking Awards.

Methodology: How does Finder choose the best bank accounts?

At Finder, we've been comparing bank accounts for more than a decade. Using the product data we've collected, ongoing consumer testing, customer surveys and many account comparisons, we've assessed accounts in our panel based on a few key features that we know you care most about to bring you our picks. While we haven't looked at all accounts in the market, we're confident our picks are strong offers.

Specifically, here's how we determine each of our top pick recommendations:

• Best bank account for no fees

  We've looked at the bank accounts in our panel, filtered the products for products available through Finder, and selected one with no account keeping fees, no ATM fees and no international transaction fees.

• Best bank account for travelling

  This account is selected as part of our annual Finder Awards. We filtered all accounts in our database for those with no overseas ATM fees or transaction fees, then selected the one that offered the best additional benefits e.g.: the ability to hold multiple currencies.

• Best bank account to help you save

  We looked at all the transaction accounts in our database and selected the one with the highest interest rate or cash back offer.

🔥 Quick tip when choosing a bank account

Alison Banney, banking editor

"You don't need to have one bank account for everything. Finder data shows that 40% of Australians have bank accounts with multiple different banks, and the main reason why is for convenience. For example, you might find it's best for you to open one bank account for your day-to-day spending and bills, and a separate bank account to use when you travel."

Frequently asked questions

• Which bank account is best for everyday transactions?

  Bank accounts are all designed for day-to-day spending and transactions. The best one will have no fees, easy ways to access your account balance and extra features that you need.

• Can I earn interest with a bank account?

  Banks accounts typically don't pay any interest, as the account is designed for spending not saving. If you want to earn interest on your money you'll need to open a savings account instead.

• Are bank accounts secure?

  Yes, bank accounts are one of the safest places for your cash. Your deposit up to $250,000 with an Australian bank is guaranteed under the government bank guarantee scheme.

• Do the Big Four bank's have the best bank accounts?

  The Big Four banks - Westpac, NAB, CommBank and ANZ - are the biggest in Australia but this doesn't mean they're the best for you. See how bank accounts by the Big Four compare to others in the market.

• Which account is best for a joint account?

  A lot of bank accounts can be opened as joint accounts with another person. When picking one, consider what you'll be using the account for and what features you need. For example, would spend tracking tools in the mobile app be handy for you? Or perhaps you're more interested in avoiding fees when travelling?

• What's the best account for overseas travel?

  If you travel a lot, a bank account with no international transaction fees would be ideal. These fees can be as high as 3.5% of the total transaction value per transaction, each time you make a purchase with your debit card in another currency. Avoiding these fees can save you lots of money.

• What's the best account for kids?

  You can open a kids savings account that pays interest on your child's balance, or a kids bank account that comes with a debit card or pre-paid card.

• What's the best account for students?

  A student bank account will usually have no fees and sometimes also offer extra perks and features.

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But Finder may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Why you can trust Finder's banking experts

We're free

Our comparison tables are completely free to use. We link you directly to the bank's secure application page. On a daily basis we update the rates, fees and conditions of the 200+ accounts on our database.

We're experts

We've researched and rated hundreds of accounts for our Finder Awards. We've published 100+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.

We're independent

Unlike other comparison sites, we're not owned by a bank or lender. That means our opinions are our own and you can compare nearly every bank account in Australia on Finder.

We're here to help

Since 2015, we’ve helped over 1.3 million Australians find an account. We'll never ask for your personal information. We're here to help you make a decision.