Best Australian Transaction (Day to Day) Account for 2022

scrimshaw on 06/02/2022 - 18:36
Last edited 06/02/2022 - 18:36

Moderators at OzBargain are now running yearly polls to decide the best products in popular categories that get asked repeatedly in the forum. Our aim is to have a central thread where users can vote on the items, suggest options and also change their vote throughout the year. For more information on how these polls work, or if you want to suggest a new poll that isn't covered already, please refer to our announcement thread here.

Question

What is the best Australian Transaction Account for 2022?

Transaction accounts are a basic day-to-day use account that everyone should have: It's an account you typically use to spend money with, such as paying for basic expenses and bills.

However, these accounts can attract fees in various different forms: such as

  • Monthly account keeping fees
  • ATM fees (for using an ATM that belongs to another bank). Many banks however, have now ditched local ATM fees.
  • Phone, or Internet banking fees
  • EFTPOS and Branch fees
  • Foreign transaction fees and Overseas or International ATM access fees

Some of these accounts also offer it's members benefits, such as:

  • Support for contactless Mobile payment platforms such as Apple or Google Pay
  • Being able to earn some interest
  • Joint accounts
  • Fee-free money transfers to other banks
  • Ability to earn rewards points such as FlyBuys, and cashbacks
  • Extra bonuses when you refer friends and family to join the same bank

Last year, most of you voted for the Macquarie Transaction account, followed by the Up Everyday Account. HSBC Global Account took third place thanks to it's 2% cashback and lack of foreign transaction fees.

How do I suggest products to What Should I Buy polls?

If you have a product that you would like to suggest for the poll (that is currently not in the Poll Options), you'll need to make a top-level comment (i.e. not replying someone else's comment) and type in the "Suggestions" text box just above your comment:

Suggestion box

Do try to make a sensible suggestion (e.g making sure it's an actual transaction account) and include a brief argument as to why you would recommend the product, including what it's benefits are and current interest rate if possible.

I've already pre-filled the poll with some random options.

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This is part of What Should I Buy poll for 2022. Check out other recommendations from the OzBargain community.
Financial Bank Account Transaction Account What Should I Buy

Comments

  • rickb on 06/02/2022 - 18:44
    Suggested Up Everyday Account

    No monthly fees
    No foreign transaction fees
    No domestic or international ATM withdrawal fees (international banks may apply their own fees)
    An excellent app that makes banking so easy
    OSKO and PayId support
    Support for Apple, Android, Fitbit, and Garmin Pay
    Saving account has a 0.50% interest rate

    Conditions are
    5 transactions a month

    • Techie4066 on 25/06/2022 - 00:28
      +3

      Why does everyone like Up so much? Is it mainly the budgeting help? Suncorp meets those criteria, is okay on the tech front and you can lock away cash at 2.15% interest within their Everyday Options account. As for Macquarie, it's unconditional 1.5% interest (1.8% savings first 4 months) minus Osko, and you get Marketplace. From personal experience just this week having moved over from CBA, their app/2FA and online banking are a work of art.

      If you don't need those overseas transaction inclusions and fresh IT experience, there's MyState Bank Bonus Saver at 1.6% interest with one extra condition, deposit $20 monthly. They have Osko and PayID.

      And for under 35s who can deposit $1000 monthly, you can't beat BOQ's 3% savings interest rate.

      Check out this spreadsheet

      • samfisher5986 on 13/07/2022 - 12:33
        +2

        UP has never had anything special and seems to only become popular by "hip, cool" advertising on social media.

        • Techie4066 on 13/07/2022 - 12:42
          -1

          Thought so. Best interest rates and functional net banking are my criteria.

      • kaleidoscope on 25/07/2022 - 23:47

        Why does everyone like Up so much?

        Been with UP since early days. Their banking experience is very convenient and good. Offers so many practical features such as breakdown of costs, cover pay, savers, shared accounts, payment reminders, apple pay, and so on.
        Most of all what I really like is their tech support which is like nothing I’ve had from any ageing banking service.

      • IsTops on 14/09/2022 - 22:42

        Because it's not Down

  • jackary on 06/02/2022 - 19:14
    +4
    Suggested Macquarie Transaction Account

    Added my pick!

      • jackary on 06/02/2022 - 19:43
        +1

        Was it? Interesting!

        I’ve been a customer for 5ish years now - back when it was still called the platinum account - and other than one hellish, costly experience at an ATM overseas (which I still hold a terrible grudge over), I really can’t complain. Great FX rates, some included insurances etc

        I’m surprised the HSBC Everyday Global account hasn’t been suggested yet - doesn’t it also offer 2% cashback for tap and pay?

      • Caped Baldy on 06/02/2022 - 21:37

        ING did bring in 1% rebate bills and a lot of hoops to jump through.

        Mac Bank has no fees that I'm aware of, a very solid app with tagging and notes, and a gift card marketplace.

      • noren7 on 21/02/2022 - 21:04
        +1

        Almost the same! Unfortunately EFTPOS was removed which makes using Beem It more annoying

    • fiveferrari on 06/02/2022 - 19:49
      +2

      No OSKO support and no EFTOPS is an irritating problem.
      Can't receive money from Westpac customers using Payid.

      • LlamaLlamaLamp on 08/03/2022 - 21:17

        Macquarie supports PayID. I thought PayID was a feature of OSKO?

        • Yola on 09/03/2022 - 03:34

          I made a transfer to Mac from MyState. It stated that it was going as a NPP and it was pretty immediate.

          • lastkey on 16/03/2022 - 09:55
            +1

            @Yola: Osko is a service that runs on NPP in addition to SCT. Most banks use only Osko so Macquarie can't receive those Osko payments. Although Mac can still send the payments to those same banks as those banks do allow incoming SCT which Mac uses. There are some banks that support both so you can send fast payments from them to Mac. Here is what I had tested:

            1- ING to Macquarie PayID - OK
            2- Great Southern Bank to Macquarie PayID- OK
            3- NAB to Macquarie PayID- OK
            4- My State is also Ok as per above comment from Yola

            Not working but can receive from MAC.
            Suncorp, St. George, Up Bank.

            • Munki on 22/03/2022 - 17:46

              @lastkey: I transfer from Mac to my Westpac and it is fast (instant). However, Westpac to Mac isn't as quick.

              • lastkey on 22/03/2022 - 18:08
                +1

                @Munki: (My hypothesis as I don't have Westpac.
                - Mac to Westpac is SCT which most of the banks support on the incoming side but not the ongoing side, that's why it is fast.
                - Westpac only supports Osko outgoing which Mac doesn't have, hence normal transfer.

                • Munki on 22/03/2022 - 20:38

                  @lastkey: Is what I'm thinking too and is most likely to be the case given what we can gather with all this evidence.

            • ColonialBoy on 02/11/2022 - 09:54

              @lastkey: For NAB -> Macquarie, in the NAB app, when you do a transfer to a Macquarie account using BSB/Account number, it says:

              "Service: Osko. This should take less than a minute. Id the payee's account can't receive OSKO payments, it'll take 1-2 business days to process".

              The transfer takes seconds.

    • [Deactivated] on 26/03/2022 - 21:51

      I had fairly positive impression with Macquarie until recently. Not sure if it was really someone trying to logon to my account, but when I tried to login the my mobile app, I was told there was too many failed logons and thus I was kicked out from the app. It was kinda understandable but what I cannot understand was that both my device was forced logout. So I tried to reset my password and after I entered the SMS OTP, I was asked to get a code from the Authenticator app, which was shared login details with the bank app and was obviously forced logout. Tried to call the CS and took over 20 minutes without anyone picking it up.

      Their process was designed without thinking and lack of capacity to help the customers. Since there are way too much trouble to deal with, I must say that's is end of story.

      • ColonialBoy on 02/11/2022 - 09:56

        I agree its an issue. Change you Macquarie login on the app to use a 4 digit password & not your regular password.

  • fiveferrari on 06/02/2022 - 19:49
    +4
    Suggested ubank Transaction Account (Formerly 86400)

    Why?
    Better Dark mode than Up.
    Full OSKO and SCT support. Up does not use SCT so Up to Macquarie has to go through BSB and Account Details.
    Good app for both 86400 and Up. Some prefer the swiping, some prefer the tabs on the bottom.
    One of the best savings rate.

    Why not?
    Merger with UBank on the horizon. How long and what that horizon will bring is a big unknown.

    • avoidfullprice on 06/02/2022 - 19:55

      Did you suggest 86400?

      • fiveferrari on 06/02/2022 - 20:26
        +2

        Ohhh Yes. It says pending moderation.

    • st1ng on 06/02/2022 - 21:27
      +2

      It's starting soon. Was given the chance to have an interview with the migration team this month. Told them I wasn't interested cause if they don't want me as a customer (I'm only a temporary resident) then I don't want to work for them. Were paying a serious amount of coins for the migration.

    • InfamousCalf on 11/02/2022 - 15:52
      +4

      no transfer limits (with phone call) and holds unlike Up either

    • lastkey on 16/03/2022 - 09:57

      86400 has stopped incoming International Payments

    • mozzieD on 26/12/2022 - 18:45

      Yeah! The same as Up EA, but have higher interest with saving account, with no overseas purchase fees same as Up EA.

  • Unorthodox on 06/02/2022 - 20:52
    +14

    Going to go against the current majority and say ING has really failed to keep up to the competition.
    - limit of $1000 per day in instant payments… Haven't listened to the many complaints over the years from customers to increase this
    - they broke real time notifications from their app and have gone back to their SMS notifications which sometimes arrive at random times

    I'd say CBA or Macquarie (or combination of the two) is best and most current.
    - CBA app is excellent and their real time notifications work perfectly. I also find that having access to ATMs for cardless cash to be beneficial and for deposits.
    - Fees for CBA account are the downside but can be mitigated if your salary goes in or you meet the criteria for a waiver.
    - Savings rates are poor across the board but the best remain Westpac for under 30s and ING so understandably there's incentive to use those.

    • [Deactivated] on 07/02/2022 - 17:03
      +1

      Macquarie + NAB for the win. NAB has no monthly fees so it's perfect for handling any random cash/cheques that you come across, then use Macquarie for everything else.

      • finbar on 18/02/2022 - 14:58

        yeah NAB is good … no monthly fees

    • Toph Beifong on 12/02/2022 - 18:48
      +1

      Agreed, ING have just introduced so many ridiculous and confusing requirements. I've been meaning to change, its just I remember my ING BSB and Acc number by heart as I have been with them for so long.

    • johnwinds on 20/02/2022 - 15:09

      I've been thinking of switching away from ING, mainly due to the savings increase requirement.

      It'd be great if the Ozbargain higher ups could get the ING reps on a forum thread here (in an AMA/community engagement/feedback session) so we can really tell them how we feel about the shenanigans their marketeers have been pulling lately. They claim the savings increase was a feature "requested by their customers".

    • lightfoot on 08/03/2022 - 16:31

      Great tips, but a lot of people don't get 2k a month to rid the account keeping fee.

      • Unorthodox on 08/03/2022 - 19:35
        +1

        Good thing is CBA has real time payments in and out (obviously dependent on other bank of course) so you can churn in and out similar to the requirements for Ubank, ING etc

        Of the Big 4 banks I still prefer having CBA over NAB just because their tech is better, the free CDIA account whereas NAB's doesn't feature real time transfers nor T+2, and decent rewards.

        For me, if there's no credit card
        HSBC - 2% cash back on taps
        ING or Macquarie for larger payments or international payments and direct debits for utilities
        CBA cash contingency and for large payments and transfers.

        I really dislike ING's requirements as it forces you to manage your forecasted cash flow before ending the month as any high expenditure or withdrawals will cut off that extra month of interest/perks

        • Yola on 09/03/2022 - 03:36

          NAB has real time transfers when using their App same as UBank.

        • Woopdidoo on 11/03/2022 - 00:17

          CBA have been putting 24hr holds on new transferees even though using payid and to recipients with CBA. Bit of a let down there.

          If I need to make first time transfers like gumtree purchases, better to use NAB.

          • Unorthodox on 11/03/2022 - 00:34
            +2

            @Woopdidoo: Gumtree and bank transfers should pretty much never go hand in hand lol

            But yeah very valid point on the 24hr delay.

  • p1 ama on 07/02/2022 - 00:57

    I've not really paid much attention to my bank account in years. The only transactions on my transaction accounts are credits from my employer, and debits from my credit card (and only very rarely for large sums that cannot be paid by credit card, or attract large fees).

    That being said, my general thoughts are that an account with one of the big 4 banks with real physical branches can sometimes be useful - e.g. if you want to cash a cheque, buy a cheque, withdraw / deposit a large amount of cash…etc. it always makes it easier.

    I still have the same ANZ account I've had since high school. Never had any issues and never had any incentive to change. I did make an ING account for overseas travel to avoid paying ATM fees, which was a nice bonus.

    • ShouldIBuyIt on 17/02/2022 - 16:36
      +3

      This ^
      I don't really see the point of this poll (was promoted to me on the front page)
      I just pay everything on credit card/afterpay and barely look at my transaction account.

      Is there a list of benefits for each submissions?

  • Danstar on 07/02/2022 - 08:31
    +5

    CBA; mainly because of their app.

  • nephilim on 07/02/2022 - 17:06
    +7

    HSBC still have capped $50 back on tap and go 2% of purchases a month
    https://www.finder.com.au/hsbc-everyday-global-account

  • jackary on 07/02/2022 - 19:13

    Genuinely surprised how many people have voted for Up - giving them a go has been on my ‘to-do’ list for some time… might have to actually follow through.

    • Vote for Pedro on 04/04/2022 - 17:58
      +1

      I don’t get what’s so good with Up tbh. Doesn’t even do ATM rebates

      • Kyle-K on 13/04/2022 - 01:41

        Doesn’t even do ATM rebates

        If I was to take a guess one that's not something that's important to ups customer base and there's not a lot of companies left doing ATM rebates and the two major players in that space the digital offering is not really kept up.

        • Vote for Pedro on 13/04/2022 - 08:20

          Still, I don’t get it.

          • Kyle-K on 13/04/2022 - 14:04
            -1

            @Vote for Pedro: Is that because you really require that feature or you don't get it in general.

            ATMs are dying and ING is already taken potshots at their ATM reimbursement restricting it to 5 a month. The days of receiving this is a feature are probably numbered.

            If you're heavily relying on cash you've probably got some exciting times ahead.

            Somethings you can look forward to.

            The return of ATM fees across the board however the good news is that will probably drive the ATM fee price down to around about a dollar across-the-board.

            The gap finally closing on digital payments on the last few situations where it's not viable currently think secondhand sales, and things like farmers markets. This stuff is starting to roll out now with even more rolling out over the next 18 months.

            Surcharge is on cash handling.

            More restrictive regulations regarding cash from the government.

            • Vote for Pedro on 13/04/2022 - 14:46

              @Kyle-K: Sorry I wasn’t clearer. Regardless of the rebate, I don’t get what’s so good about the account/institution. The rebates comment was just a secondary throwaway example

              • Kyle-K on 13/04/2022 - 18:38
                -2

                @Vote for Pedro: If you're making a comparison based on what's in the market now. I can see how it could be considered a little bit less compelling given the other new players in the market as well.

                For me it's features and iteration on their product. They're also really good company to deal with relatively.

                And for me at the end of last year I've had enough of waiting for Macquarie to catch up and up is just on a more digital feature roadmap than some of the other players.

                Their interface and options that they have chosen in some situations do break from the norms of other banking products.

                And some like it some don't but at the end of the day every product is not for everyone. When it comes to banking products there's no such thing as the gold standard.

                They all have their benefits and they all have their disadvantages. The recommendation I makers remember to treat them like a utility and get the best banking product for your situation for each situation you have.

                • Vote for Pedro on 13/04/2022 - 19:09
                  +2

                  @Kyle-K: Don’t take me the wrong way. I am really trying to understand what it is that makes it so popular. I’m on OzBargain for the best deal, features etc.

                  Everything you’ve said seems more a subjective rather than objective position, that is, it’s more ‘feels’ than ‘reals’. And thats ok, but to switch i need ‘reals’.

      • stephendt on 14/12/2022 - 22:21
        +1

        Same. No web interface was an instant deal breaker for me

  • RockyRaccoon on 07/02/2022 - 19:32

    Anyone suggest one of these that has no fees for a deposit/transfer in, of overseas currency. (Direct deposit not cheque or cash)

    • lastkey on 16/03/2022 - 10:01

      Up works well. They convert the incoming transactions to AUD as per Mastercard exchange rates.

  • Ragnarok1983 on 08/02/2022 - 21:55
    +5

    Still with CBA, dollarmites account from 95..

    • Lanushi on 31/08/2022 - 13:55

      I'm guessing you also have a credit card with CBA as a result of dollarmites?

  • EnALup on 09/02/2022 - 00:54

    Is Citibank plus still a good account for overseas atm withdrawls or international transactions?

    • rickb on 09/02/2022 - 09:04

      Yes. Still a good option for these sorts of transactions.

  • payless69 on 14/02/2022 - 11:45
    +2
    Suggested Ubank Legacy USpend Account (Deprecated)

    Suggestions
    U bank (by NAB)
    reasons 4:
    Can send money from savings without shuffling
    Fastest money transfer
    Near top level interest actually paid!
    Easy customisable

    • rickb on 14/02/2022 - 13:16
      +2

      Can send money from savings without shuffling

      This is a good feature. Don't have to move funds from Savings to the Transaction Account when making purchases or doing transfers.

      The feature is on UP Banks' roadmap.

      • payless69 on 14/02/2022 - 16:48
        +3

        Up looks fancy perhaps too complex for oldies. Unable to log out, low 60k limit for crappy interest
        I actually us U save and it is the fastest to transfer out of about 12 banks I use. 250k limit like many also govt guarantee.
        Bonus interest comes in sometimes a day late but never a sigle cent missing. Never paid a cent in fees.
        Worst one over the last 4 years: AMP!
        Laziest one: Ing, if I walk into a branch I have to wake them up and they know nothing but refer me to web.
        Sinking ship: Me Bank, still good but BOC is not going to subsidize it forever.
        Upcoming Darling: MyState from Tassie. Love it, zero issues.
        Still good but not as good as some time back: Maquarie.
        Rock Solid: Combank. Looks after me and has tolerance when others fail.
        Stone dead male sheep: RAM by Westpac. Used to be highest interest payer but got poisened by owners.

  • swanny246 on 14/02/2022 - 15:32
    +3

    The original thread about Up has been deleted, can anyone comment on the features that the Up website promotes for their app and whether they make it worth it? I'm with Macquarie currently and it's fine, and it does look like Up has some useful budgeting features which Macquarie doesn't.

  • uccoffee on 16/02/2022 - 13:09

    i need NAB cos it 's got the deposit cheque option inside the app.
    are there any other banks that can do that? anz , ing, cba , citi cannot.

    • rickb on 17/02/2022 - 07:48

      Westpac

  • ozbargainer88 on 16/02/2022 - 15:07
    +1

    Crypto.com card

  • onlybargains on 19/02/2022 - 08:33
    +4

    It's simple to just stick to one but why limit yourself?

    I use HSBC for most purchases (2% cashback), UBank for savings (reliably close to best rate) and Macquarie for the rare ATM withdrawal (no fees).

    All three support instant transfers, Google Pay and can easily have no fees (with minimum monthly transfer).

    I used to use ING too but it got too high maintenance.

    • PeeDee on 28/02/2022 - 14:08

      Why MAC for ATM withdraw when you can do that with your HSBC?

      • onlybargains on 02/03/2022 - 11:09
        +1

        from https://www.hsbc.com.au/accounts/transactions/#footnote1

        Non HSBC ATM owners/operators may charge an ATM Operator Fee for withdrawals or balance enquiries at their ATMs. Other fees and charges may apply.

        HSBC doesn't itself charge ATM fees but if you withdraw from a non-HSBC ATM you will/may be charged by the ATM operator (think the non-bank ATMs at pubs).

        Macquarie will refund those fees to you so you never pay any fees withdrawing from any ATMs (in Australia)

        from https://www.macquarie.com.au/everyday-banking/transaction-ac…

        We will refund fees charged to you by domestic ATM operators in connection with domestic ATM transactions, but you’ll need to pay any other fee that you’re charged by any international ATM operator.

        ING still refunds even those international ATM fees (up to 5 per month) but it's a PITA to qualify if you don't use it as your primary card, see https://www.ing.com.au/rates-and-fees/orange-everyday-fees.h…

    • axlfan on 02/05/2022 - 12:11

      Can you elaborate on ING please? Why did it become high maintenance?

      • Yola on 02/05/2022 - 16:19
        1. Deposit $1000 into Orange each month.
        2. Make 5 settled transactions each month.
        3. Ensure your end of month balance in Saving account is higher than at the beginning of the month.
          It is PITA.
        • axlfan on 02/05/2022 - 16:23
          +1

          Oh crap. Pt 3 explains a lot! Yikes! Ok time to change. Thanks mate!

  • Vote for Pedro on 20/02/2022 - 10:11
    +1
    Suggested ME Bank Everyday Transaction Account

    I know they’ve had a bad rap over their home loan but the me bank every day transaction account is just fine with no fees, atm refunds and apple pay. If you get the pink card they donate 1cent from every tap to charity.

    • robotsy on 04/04/2022 - 11:34

      That coming soon on PayID though (and no OSKO) …

      The app is also nothing to write home about.

      • Vote for Pedro on 04/04/2022 - 17:52

        The app is functional. Absolutely no bells and whistles. But you get what you pay for.

    • Lanushi on 31/08/2022 - 13:57

      Not to mention, they refund all ATM fees in Australia. This was a big one for me. As was their variable rate at the time on the savings account.

  • dm02 on 25/02/2022 - 14:40
    +4
    Suggested HSBC Everyday Global Account

    Surprised the HSBC Everyday Global Account hasn't been suggested again yet. Don't understand the hype around Up, they have a good app sure but not really any perks

    • BellaWii on 26/02/2022 - 10:33
      +1

      A bank that pays you to spend your own money … sign me up!!!

    • Bytelover on 28/02/2022 - 21:19
      +1

      It still lacks osko right? That's probably the reason. But yea my vote goes to hsbc for the Cashback as well as the $100 bonus

      • dm02 on 01/03/2022 - 11:18

        I use CommBank as my primary bank account to receive funds and then whenever I need to spend, use beemit to transfer to the HSBC account

  • Mr Mrrtn on 26/02/2022 - 15:14
    +3

    ING Orange Everyday account used to be much better and there are monthly hoops to jump through, I know, but is there another product that has OSKO, fee rebates on any ATM withdrawal in Aus and 0% fees on international purchases?

    As much as I’d like to change away to a better product, i am hard pressed to find one that has all the above features. Please let me know if there is

  • niknikniknik on 27/02/2022 - 22:57

    The NAB classic account with the visa platinum debit card is great. I think it's $10pm for the platinum card but you get all the insurance perks of credit cards and 1% cashback on tap and pay too. No complaints with the app/IB either. Am not getting charged the $10pm so even more happy days :)

    • rzg on 27/02/2022 - 23:04

      How come you aren’t getting charged the fee?

    • aneil915 on 28/02/2022 - 09:27

      $10 monthly fee and 1% cashback on tap and pay HOWEVER cashback is capped at $10 a month so pointless really.

  • PeeDee on 28/02/2022 - 14:15

    Anyone still using Suncorp? Their rewards is great but it seems like you can get the best of both worlds from the MAC card?

    • FujiFruit on 28/02/2022 - 15:07

      What is a mac card?

      • Yola on 28/02/2022 - 17:09

        Macquarie bank.

    • Futura on 30/03/2022 - 13:44

      My partner and I would have stayed with them, we liked the app, but they don't do push notifications.

  • andrek on 17/03/2022 - 16:13

    Is there a bank which allows to "program" account management? For example " IF transaction is credit AND IF from:[MY_EMPLOYER] THEN send transaction_amount/2 to [Favourites:Investment_Account]" ?

    All I can see these days only can be triggered by date and it's a fixed amount.

    • Kyle-K on 23/03/2022 - 14:38

      Up may have some of the features you're looking for.

      They have an ability to split your paycheck on incoming and have an automatic covers feature where money can be pulled from another account to cover the cost of a transaction automatically.

  • Munki on 22/03/2022 - 17:48
    +1

    Big fan of Macquarie's transaction account. You can tell they've invested in their IT with their app being one of the nicer ones to use. I'll deduct some points for not being on OSKO though.

    • Kyle-K on 23/03/2022 - 14:38
      +1

      To be honest I also feel their apps been falling behind the market as of late they had a really good early advantage but haven't really iterated much of late.

  • Unorthodox on 27/03/2022 - 18:53

    HSBC Android App has finally been updated to show the AVAILABLE balance on the home screen and accounts screen instead of when you go into the account itself.
    Can't believe it took so long…

    Can say that this update finally makes HSBC my top choice for transactions via tap

  • Futura on 30/03/2022 - 13:39
    -2
    Suggested Westpac Choice

    I am voting for Westpac Choice for the following reasons:

    • Push Notifications for both joint account holders (CBA doesn't do this)
    • Instant card use when card is dispatched (Google Pay + Online shopping etc.)
    • Purchase icons (Powered by Look Who's Charging)
    • Great app on Android & I suspect iOS as well (You can pick cool background pictures)
    • Live chat a banking agent via the app
    • Ability to pick the BSB when joining Westpac (over the phone)

    Although opening a joint account with Westpac is annoying, you have to both go into branch with your ID and confirm you both consent to opening the account. I think this may have something to do with preventing domestic violence abuse?

    My second pick would be Up as that is who I used to use before going joint however my partner currently has a complaint open with AFCA because they (Up) won't let them open an account despite having a Bendigo account already, AFCA were not happy with Bendigo's response and escalated it without needing input from my partner so if AFCA are able to override Bendigo's stance and allow them to have an Up account then we 'may' switch to Up but in saying that really like the Westpac app.

    We ended up trying the following banks: Macquarie, CBA, ANZ, Great Southern Bank, Bank Australia, 86 400, Suncorp and… I think that is all of them!

  • silenthillrocks on 27/04/2022 - 15:19
    -1
    Suggested Virgin Money

    Virgin Money -

    1. $90 sign on promo makes it worthwhile
    2. ongoing rewards for spending
    3. instant google pay/apple pay provisioning
    4. osko native with large transfer daily limit

    Negatives:
    1. No desktop website
    2. Buggy app

    • rickb on 27/04/2022 - 16:18
      +1

      Some other negatives

      • 2.5% currency conversion fee on international transactions
      • $5 fee to deposit a cheque or cash into the account
  • Oofy Doofy on 08/05/2022 - 13:52
    -1
    Suggested Revolut

    https://www.revolut.com/en-AU

  • Oofy Doofy on 08/05/2022 - 13:56
    +1

    https://crypto.com/au/

  • Oofy Doofy on 08/05/2022 - 14:02
    Suggested Wise

    You can use Wise as a transaction account. Like anything, there are pros and cons

    https://wise.com/au/

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