{"source":"CiteHawk AI Index","record":"online banks — 2026-10","url":"https://www.citehawk.com/leaderboards/editions/2026-10/online-banks/au","immutable":true,"snapshotId":"39992ed6-6fe3-47d4-98bc-4f8e1be05da2","capturedAt":"2026-10-04T10:09:47.144+00:00","contentHash":"3f1fb6f0483637254166add555d7850d1241f263c58a62325b810e3f1fb24a52","contentHashSpec":"sha256-v1: hex SHA-256 of the UTF-8 bytes of the compact JSON array (no whitespace, non-ASCII characters unescaped, as JavaScript JSON.stringify emits) of [provider, run, model, text] tuples, one per captured answer, sorted by provider then run","registryRulesHash":"043102d8d3162d07dda4892d375b4134e63a3cd6117ae53e2da6de4cd595ce2e","registryRulesHashSpec":"sha256-v1: hex SHA-256 of the UTF-8 bytes of the compact JSON object {version, aliases, notInCategory, categoryAllow, serviceSlugRe} where aliases is the array of [foldedKey, canonicalName, pinnedDomain, categoryScope] tuples sorted by key, carrying a fifth regionScope element only on the entries that have one, notInCategory and categoryAllow are arrays of [categorySlug, domains] tuples sorted by slug, and every domain/scope list is itself sorted, carrying a trailing notInCategoryByRegion element, an array of [categorySlug, region, domains] triples sorted by slug then region, only when at least one region-scoped deny entry exists, and after it a trailing notInCategoryByName element, an array of [categorySlug, regionScope, names] triples sorted by slug then scope (regionScope \"*\" for every board region, names as published), only when at least one name-scoped deny entry exists","region":"au","prompt":"What are the best online banks in Australia? Recommend the top brands or products that people actually use.\n\nAnswer as if the user is in Australia.","providers":["openai","claude","gemini","perplexity","deepseek","grok"],"models":{"grok":"grok-4.3","claude":"claude-sonnet-5","gemini":"gemini-3.5-flash","openai":"gpt-5.5-2026-04-23","deepseek":"deepseek-flash","perplexity":"sonar"},"runsPerProvider":1,"totalCalls":12,"ranking":[{"rank":1,"brand":"Up","domain":"up.com.au","entityId":"fb64e01a-2bef-4738-9743-57d54d518893","score":57.8,"mentions":6,"recommendedBy":["openai","gemini","perplexity","deepseek","grok","claude"],"averagePositionByProvider":{"grok":1,"claude":1,"gemini":1,"openai":2,"deepseek":4,"perplexity":2}},{"rank":2,"brand":"ING","domain":"ing.com.au","entityId":"f5cd2488-a279-4be9-8c29-912073d53382","score":55.3,"mentions":6,"recommendedBy":["openai","claude","gemini","perplexity","deepseek","grok"],"averagePositionByProvider":{"grok":3,"claude":4,"gemini":4,"openai":3,"deepseek":1,"perplexity":1}},{"rank":3,"brand":"ubank","domain":"ubank.com.au","entityId":"188534fd-91e2-4738-908d-cf7635966512","score":54.4,"mentions":6,"recommendedBy":["openai","claude","gemini","perplexity","deepseek","grok"],"averagePositionByProvider":{"grok":2,"claude":5,"gemini":2,"openai":4,"deepseek":3,"perplexity":3}},{"rank":4,"brand":"Macquarie Bank","domain":"macquarie.com.au","entityId":"893833b8-3d0a-4795-9b7f-71ec3b48b55e","score":53.9,"mentions":6,"recommendedBy":["openai","claude","gemini","perplexity","deepseek","grok"],"averagePositionByProvider":{"grok":4,"claude":7,"gemini":3,"openai":1,"deepseek":2,"perplexity":4}},{"rank":5,"brand":"CommBank","domain":"commbank.com.au","entityId":"f6525ff6-ed82-4a12-8e8d-cbfc8f91eb24","score":40.7,"mentions":4,"recommendedBy":["openai","claude","perplexity","deepseek"],"averagePositionByProvider":{"claude":2,"openai":6,"deepseek":10,"perplexity":5}},{"rank":6,"brand":"ANZ Plus","domain":"anz.com","entityId":"0535b3e1-d3df-4bb2-89d8-c086bceb9ac3","score":40.1,"mentions":4,"recommendedBy":["openai","claude","deepseek","grok"],"averagePositionByProvider":{"grok":5,"claude":8,"openai":5,"deepseek":12}},{"rank":7,"brand":"NAB","domain":"nab.com.au","entityId":"751578ed-4272-41ca-a291-1a8314abaa8e","score":39.9,"mentions":4,"recommendedBy":["claude","gemini","deepseek","grok"],"averagePositionByProvider":{"grok":8,"claude":6,"gemini":6,"deepseek":13}},{"rank":8,"brand":"Bendigo and Adelaide Bank","domain":"bendigo.com.au","entityId":"2385037d-0651-461a-9ee8-458403d0ddae","score":21.5,"mentions":2,"recommendedBy":["gemini","grok"],"averagePositionByProvider":{"grok":7,"gemini":5}},{"rank":9,"brand":"Revolut","domain":"revolut.com","entityId":"6a07ac89-8fbf-4053-bdb7-3a94fa91ed37","score":21.5,"mentions":2,"recommendedBy":["deepseek","grok"],"averagePositionByProvider":{"grok":6,"deepseek":6}},{"rank":10,"brand":"Westpac","domain":"westpac.com.au","entityId":"982b8e0b-f6c0-444c-86d5-bf7d7c45261b","score":20.5,"mentions":2,"recommendedBy":["claude","deepseek"],"averagePositionByProvider":{"claude":10,"deepseek":11}}],"answers":[{"provider":"claude","run":1,"model":"claude-sonnet-5","capturedAt":"2026-10-04T10:09:47.150Z","text":"## Best Online Banks in Australia\n\nBased on current rankings and customer satisfaction data, here are the digital/online banks Australians actually use and rate highly:\n\n### 🏆 Top Picks\n\n**Up Bank** – The standout for app experience and customer love. Up Bank, which is owned by CBA, operates entirely online without physical branches. (Note: Up is actually backed by Bendigo & Adelaide Bank, not CBA — sources vary here, see note below). It consistently ranks #1 for satisfaction, and it has been named the most loved banking app this year by customers, with Up, ING and Ubank among the top 5 for customer satisfaction. People love it for creating one of the most innovative banking experiences available in Australia, reimagining what a bank can be — think gamified savings (\"Up has a feature where you can set up multiple savings goals\").\n\n**ING (Orange Everyday)** – A long-time favourite for everyday banking. ING operates entirely online in Australia, and it's praised because digital-first options like ING stand out for low fees, automation, and easy online access, making them ideal for tech-savvy users who don't need branches. It's also known for global ATM fee rebates and cashback on eligible bills.\n\n**UBank** – Great for savers. Ubank, owned by NAB, has transformed itself into one of Australia's leading digital banks, combining competitive interest rates with innovative technology after merging with 86400 in 2022. Many reviewers note Ubank typically offers about 0.75% higher interest than Up Bank.\n\n**Macquarie Bank** – The \"best overall\" pick in several 2026 rankings for its clean digital experience. The 2026 Finder Award winner is the Macquarie Transaction Account: zero monthly fee with no conditions to meet, no international transaction fees and refunded domestic ATM operator fees. It's popular with professionals and investors who want full-service banking (home loans, credit cards) without branches.\n\n**ANZ Plus** – The big bank's digital-first answer. It offers everyday accounts, savings, loans, and credit cards, with the ANZ Plus app featuring no monthly fees and built-in saving tools — a good bridge if you want a major bank's backing with a neobank-style app.\n\n### Quick Comparison\n\n| Bank | Best For |\n|---|---|\n| **Up** | App experience, budgeting/gamification, customer satisfaction |\n| **ING** | Everyday transactions, ATM rebates, cashback |\n| **UBank** | Highest savings interest rates |\n| **Macquarie** | Overall package — zero fees + full-service (home loans, cards) |\n| **ANZ Plus** | Major bank security + modern app |\n\n### Context\nDigital-first banks like Up, ING, Macquarie, and ANZ Plus tend to offer the most competitive fee structures and the best app experiences, with minimal or no branch networks, while traditional banks like CommBank, ANZ, NAB, and Westpac have the most extensive branch and ATM networks — useful if you ever need cash deposits or in-person help.\n\n**My take:** If you want the most-loved everyday app, go **Up**. If you want the best all-rounder with zero fees and real banking products (home loan, cards, savings), **Macquarie** is hard to beat right now. **ING** remains a safe, well-established choice too.\n\nOne caveat: ownership details (e.g., who backs Up Bank) vary slightly between sources, so it's worth double-checking current details on each bank's official site before signing up, since offers and rates change often.","extractedBrands":[{"name":"Up Bank","domain":null,"position":1},{"name":"CBA","domain":null,"position":2},{"name":"Bendigo & Adelaide Bank","domain":null,"position":3},{"name":"ING","domain":"ing.com.au","position":4},{"name":"Ubank","domain":null,"position":5},{"name":"NAB","domain":null,"position":6},{"name":"Macquarie Bank","domain":"macquarie.com","position":7},{"name":"ANZ Plus","domain":"anz.com","position":8},{"name":"CommBank","domain":null,"position":9},{"name":"Westpac","domain":null,"position":10}]},{"provider":"deepseek","run":1,"model":"deepseek-flash","capturedAt":"2026-10-04T10:09:47.150Z","text":"If you’re in Australia, the online banks/neobanks people actually use and recommend are pretty concentrated: **ING, Macquarie, ubank, and Up**. The big four banks have good apps, but for fee-free everyday banking and better savings rates, these are the ones most Aussies switch to.\n\n**Quick pick**\n- **Best all-round main account:** Macquarie  \n- **Best high-interest savings if you’ll meet conditions:** ING Savings Maximiser  \n- **Best simple savings:** ubank Save  \n- **Best app/budgeting experience:** Up  \n- **Good travel-friendly options:** Macquarie, ING, ubank, Up — plus Wise/Revolut for overseas spending, but don’t treat those last two as your main bank.\n\n---\n\n### Top online banks/products in Australia\n\n| Bank | Best product | Why people use it | Watch out for |\n|---|---|---|---|\n| **ING** | Orange Everyday + Savings Maximiser | No monthly fees, no ING international transaction fees, ATM fee rebates if you meet conditions, and one of the highest bonus savings rates — often around 5.00–5.50% p.a. | Conditions: deposit $1,000+ from an external account, make 5+ card purchases, and grow your savings balance each month. Rate is usually capped. |\n| **Macquarie** | Transaction Account + Savings Account | Excellent all-rounder. No monthly fees, no international transaction fees, good app, no hoops. Feels like a proper bank, not a gimmick. | Savings rate is usually lower than the top bonus accounts after the intro period. |\n| **ubank** | Everyday + Save | Owned by NAB. No monthly fees, no international transaction fees, simple app. Save account often pays around 5.00–5.50% p.a. if you deposit $500+ per month. | Monthly deposit condition. App is good but less feature-rich than Up. |\n| **Up** | Everyday + Saver | Owned by Bendigo Bank. Brilliant app for budgeting, savers, salary splitting and “2Up” accounts. No monthly fees, no international transaction fees. Saver often around 5.00–5.50% p.a. if you make 5+ purchases. | Very app-first. If you want branch access, it’s limited. |\n| **Great Southern Bank** | Everyday Edge + savings | A decent alternative with fee-free everyday banking and competitive savings. Less hyped but solid. | Rates and conditions change; check current offers. |\n| **ME Bank / Bankwest** | Transaction + savings | Good fallback options, especially if you want a slightly different app or bundled offers. | Not always top of the rate tables. |\n\n---\n\n### What I’d actually do as an Aussie\n\n1. **Main spending account:**  \n   Open **Macquarie Transaction Account** or **Up Everyday**. Both are fee-free, have good apps, and don’t sting you on international transactions.\n\n2. **Savings account:**  \n   If you can meet the monthly conditions, use **ING Savings Maximiser** — it’s the classic Aussie move.  \n   If you want something simpler, use **ubank Save** or **Up Saver**.  \n   If you hate conditions, use **Macquarie Savings** and accept a slightly lower rate.\n\n3. **Travel:**  \n   Use **Macquarie, ING, ubank or Up** for fee-free-ish overseas card purchases. For transfers and overseas ATM withdrawals, lots of people also use **Wise** or **Revolut**, but remember they are not Australian banks — don’t park your emergency fund there.\n\n4. **Keep a big-four account if you need it:**  \n   If you need branches, cash deposits, or a mortgage offset, you might still keep **CommBank/Westpac/ANZ/NAB**. But many people use them only for the mortgage and do everyday spending/saving with ING/Macquarie/ubank/Up.\n\n**Bottom line:**  \nFor most people in Australia, the best combo is **Macquarie or Up for everyday spending + ING or ubank for savings**. If you want one bank only, **Macquarie** is the easiest no-hoops choice. If you want maximum interest and don’t mind jumping through a few monthly hoops, go **ING**.","extractedBrands":[{"name":"ING","domain":"ing.com.au","position":1},{"name":"Macquarie","domain":"macquarie.com.au","position":2},{"name":"ubank","domain":null,"position":3},{"name":"Up","domain":null,"position":4},{"name":"Wise","domain":"wise.com","position":5},{"name":"Revolut","domain":"revolut.com","position":6},{"name":"Great Southern Bank","domain":null,"position":7},{"name":"ME Bank","domain":null,"position":8},{"name":"Bankwest","domain":"bankwest.com.au","position":9},{"name":"CommBank","domain":"commbank.com.au","position":10},{"name":"Westpac","domain":"westpac.com.au","position":11},{"name":"ANZ","domain":"anz.com","position":12},{"name":"NAB","domain":"nab.com.au","position":13}]},{"provider":"gemini","run":1,"model":"gemini-3.5-flash","capturedAt":"2026-10-04T10:09:47.150Z","text":"If you are looking to ditch the \"Big Four\" (CBA, Westpac, ANZ, and NAB) and move to a digital-first bank, the Australian market has some of the best offerings in the world. \n\nThese online-only banks (often called neobanks or digital banks) don't have physical branches, but they make up for it with incredibly slick mobile apps, higher interest rates, and lower fees. \n\nCrucially, **every bank listed below holds an APRA ADI (Authorised Deposit-taking Institution) licence**. This means your money is legally protected up to $250,000 by the Federal Government’s Financial Claims Scheme, exactly the same as if you bank with CommBank or Westpac.\n\nThe following online banks are highly rated and widely used in Australia.\n\n---\n\n### 1. Up Bank (The Best for App Experience & Budgeting)\nOwned by Bendigo and Adelaide Bank, **Up** is arguably the most loved digital bank in Australia, consistently winning \"Neobank of the Year\" and customer satisfaction awards. It is heavily popular with Millennials and Gen Z, but its powerful budgeting features make it great for anyone.\n\n*   **Savings Interest Rate:** **5.35% p.a.** on balances up to $1 million.\n*   **The \"Hoops\" (Criteria):** Super easy. You only need to make **5 card purchases** a month using your Up card or digital wallet. Unlike other banks, you *don't* have to grow your balance or avoid making withdrawals to get the bonus rate.\n*   **Why people love it:**\n    *   **The UI:** Hands-down the best-designed banking app in Australia. It gives you instant merchant emojis, categorized spending insights, and tracks your upcoming bills.\n    *   **\"2Up\":** An incredibly easy way to set up co-banking or joint accounts with a partner.\n    *   **Wise Integration:** Up has Wise built directly into the app, making cheap international money transfers seamless.\n    *   **No Fees:** $0 monthly account fees and $0 international transaction fees. \n\n### 2. Ubank (The Best \"Middle Ground\" for High Rates & Easy Criteria)\nBacked by NAB, **Ubank** underwent a massive upgrade when it merged with the digital bank *86 400*. It strikes the perfect balance between offering a highly competitive interest rate and having incredibly easy conditions to meet.\n\n*   **Savings Interest Rate:** **5.35% p.a.** ongoing (with a **6.10% p.a.** introductory 4-month rate for new customers) on balances up to $1 million.\n*   **The \"Hoops\" (Criteria):** Just **grow your combined savings balance by at least $1** by the end of the month (excluding interest paid). That's it. No minimum card transaction count required. \n*   **Why people love it:**\n    *   **Create up to 10 separate Save accounts:** Great for envelope-style budgeting (e.g., \"Car Insurance,\" \"Holiday Fund,\" \"Groceries\").\n    *   **No International Fees:** No foreign exchange fees for online or overseas shopping.\n    *   **Shared Accounts:** Easily set up shared savings and transaction accounts with a partner.\n\n### 3. Macquarie Bank (The Best \"No-Hoops\" Option)\nWhile Macquarie is a massive financial institution, it operates as a digital-first retail bank with no traditional branch network. It has gained a massive following because it treats savers with incredible fairness.\n\n*   **Savings Interest Rate:** **5.25% p.a.** on balances up to $250,000.\n*   **The \"Hoops\" (Criteria):** **Absolutely none.** There are no deposit requirements, no withdrawal restrictions, and no transaction quotas. You get this high rate passively, even if you don't touch the account.\n*   **Why people love it:**\n    *   **High-Yield Transaction Account:** Even your everyday *spending* transaction account earns a high variable rate of **3.00% p.a.**\n    *   **ATM Fee Refunds:** Macquarie doesn't charge you to use ATMs, and they will actually refund any fee charged by domestic ATM operators.\n    *   **Discounted Gift Cards:** The in-app marketplace allows you to buy digital gift cards at a 3% to 10% discount for major retailers (Woolworths, Coles, Airbnb, Myer), which is basically free money for your weekly grocery run.\n    *   **Top-Tier Security:** Renowned for having some of the best app-security and fraud-prevention features in the business.\n\n### 4. ING — Savings Maximiser & Savings Booster (The Highest Ongoing Yield)\nING is a global giant but has operated in Australia for decades as an online-only bank with no branches. Historically, ING has offered the benchmark-setting interest rates in Australia, but they make you work for it.\n\n*   **Savings Interest Rate:** **5.75% p.a.** on the *Savings Maximiser* (up to $100,000). Alternatively, they offer a *Savings Booster* with a **6.25% p.a.** 4-month intro rate, reverting to 5.40% p.a. on balances up to $500,000.\n*   **The \"Hoops\" (Criteria):** Very strict. Every month you must:\n    1. Deposit at least $1,000 into any of your ING personal accounts.\n    2. Make 5+ settled card purchases.\n    3. Ensure your Savings Maximiser balance is higher at the end of the current month than it was at the end of the previous month.\n*   **Why people love it:**\n    *   **Industry-Leading Rates:** If you are willing to jump through the hoops, you get one of the highest ongoing, guaranteed yields on the market.\n    *   **Excellent Travel Perks:** Meeting the monthly hoops also unlocks rebates on international transaction fees and refunds on up to 5 ATM fees per month (even globally).\n\n---\n\n### Summary: Which one should you actually choose?\n\n| If you want... | Your best bet is... | Why? |\n| :--- | :--- | :--- |\n| **Slickest app, automated budgeting, and joint-account features** | **Up Bank** | Their app design is unmatched, making saving feel like a game. |\n| **A high rate with almost zero effort or hoops** | **Ubank** | Just throw $1 extra in there each month to secure a top-tier rate. |\n| **No conditions at all + grocery discounts** | **Macquarie Bank** | Best passive savings rate on the market, plus great gift card hacks. |\n| **The absolute maximum yield on your cash** | **ING** | Hardest hoops to jump through, but the rewards are historically the highest. |","extractedBrands":[{"name":"Up Bank","domain":"up.com.au","position":1},{"name":"Ubank","domain":"ubank.com.au","position":2},{"name":"Macquarie Bank","domain":"macquarie.com.au","position":3},{"name":"ING","domain":"ing.com.au","position":4},{"name":"Bendigo and Adelaide Bank","domain":"bendigo.com.au","position":5},{"name":"NAB","domain":"nab.com.au","position":6},{"name":"Woolworths","domain":"woolworths.com.au","position":7},{"name":"Coles","domain":"coles.com.au","position":8},{"name":"Airbnb","domain":"airbnb.com","position":9},{"name":"Myer","domain":"myer.com.au","position":10}]},{"provider":"grok","run":1,"model":"grok-4.3","capturedAt":"2026-10-04T10:09:47.150Z","text":"**Top online/digital banks (neobanks and digital offerings) that Australians actually use include Up Bank, ubank, ING, and Macquarie Bank.** These stand out in recent 2025–2026 comparisons for app experience, low/no fees, competitive savings rates, and customer satisfaction, with growing adoption especially among younger users.[[1]](https://www.dadinvestor.com.au/best-online-banks/)[[2]](https://www.mozo.com.au/best/best-bank-accounts)[[3]](https://www.mozo.com.au/bank-accounts/guides/online-banks)\n\nTraditional big banks (CBA, ANZ, Westpac, NAB) still dominate overall market share, but digital options are gaining ground for everyday banking due to better apps, fewer fees, and competitive rates. Deposits with APRA-authorised deposit-taking institutions (ADIs) or those backed by one are protected up to $250,000 under the Financial Claims Scheme.[[4]](https://www.mozo.com.au/fintech/digital-banking-and-neobanks)\n\n### Top Recommendations\nHere are the standout options based on awards (Finder, Mozo, Canstar), user feedback, and popularity:\n\n- **Up Bank** (backed by Bendigo and Adelaide Bank): Often praised as one of the most popular and user-friendly mobile-first banks. It excels in app experience with real-time spending categorisation/tracking, savings “pots” or goals, budgeting tools, round-ups, and features like 2Up for joint accounts. No monthly fees, strong customer satisfaction (high NPS), and innovative touches that make managing money feel less boring. Great for everyday spending and younger users who want a modern app. Many Aussies use it as a primary or secondary account alongside a big bank.[[1]](https://www.dadinvestor.com.au/best-online-banks/)[[3]](https://www.mozo.com.au/bank-accounts/guides/online-banks)[[5]](https://www.finder.com.au/bank-accounts/digital-banks)\n\n- **ubank** (owned by NAB, merged with 86400 tech): Strong all-rounder for high interest rates and features. Competitive savings rates (e.g., up to around 5.50% p.a. on USave with modest conditions like $200 monthly deposit), spending insights, and tools for multiple savings goals. No account-keeping fees on the Spend account. It combines solid rates with a decent app and is popular for savers who want more than basic banking.[[1]](https://www.dadinvestor.com.au/best-online-banks/)[[3]](https://www.mozo.com.au/bank-accounts/guides/online-banks)\n\n- **ING**: Frequently wins awards (e.g., Mozo Best Bank, Canstar Everyday Banking) for consistent value. Its Orange Everyday account is fee-free with no international transaction fees and overseas ATM fee rebates (third-party fees may apply). Savings Maximiser offers high rates (up to ~5.50% p.a.) if you meet conditions like monthly deposits and purchases. Reliable for both spending and saving, with good perks for travellers. A long-standing digital player that many Aussies rely on.[[6]](https://www.mozo.com.au/media-room/is-your-bank-on-the-list)[[7]](https://www.canstar.com.au/star-ratings-awards/everyday-banking-awards/)\n\n- **Macquarie Bank**: Often tops transaction account comparisons (e.g., 2026 Finder Award winner). No monthly fees, no international transaction fees, refunds on domestic ATM operator fees, and competitive ongoing savings rates (around 5.00% p.a. with no conditions on balances up to $2M, plus welcome bonuses). It has a strong digital offering and appeals to those who want simplicity and travel-friendly features without conditions to meet.[[2]](https://www.mozo.com.au/best/best-bank-accounts)[[3]](https://www.mozo.com.au/bank-accounts/guides/online-banks)\n\n### Other Notable Options\n- **ANZ Plus**: ANZ’s digital app with good savings goals (up to 99), spending insights, and big-bank backing/security. Solid for those who want modern features from an established name.[[2]](https://www.mozo.com.au/best/best-bank-accounts)\n- **Revolut**: Growing for multi-currency accounts, international transfers, and budgeting tools (recently received full ADI licence). Useful as a supplement for travel or overseas spending rather than a full primary bank.[[4]](https://www.mozo.com.au/fintech/digital-banking-and-neobanks)\n\n### Quick Tips for Aussies Choosing One\n- **Everyday spending & app love** — Start with **Up**.\n- **Maximising savings rates** — Compare **ubank** or **ING** (check current conditions, as they can change with RBA moves).\n- **Travel & low fees** — **ING** or **Macquarie**.\n- Most support PayID/Osko for instant transfers, Apple/Google Pay, and BPAY. Cash deposits/withdrawals can be limited (use linked big-bank ATMs or services like Australia Post where available).\n- Rates and conditions vary—always check the latest on the bank’s site or comparison tools like Finder/Mozo/Canstar, as they fluctuate.\n- Many people use 2+ accounts (e.g., Up or Macquarie for day-to-day + a high-rate saver elsewhere).\n\nThese are the ones consistently mentioned in user discussions, awards, and reviews as ones people actually open and stick with. Your best fit depends on whether you prioritise the slickest app, highest rates, or specific perks—compare a couple directly based on your habits (e.g., how much you save monthly or travel). If you share more about what matters most (savings, travel, joint accounts, etc.), I can narrow it further!","extractedBrands":[{"name":"Up Bank","domain":"up.com.au","position":1},{"name":"ubank","domain":"ubank.com.au","position":2},{"name":"ING","domain":"ing.com.au","position":3},{"name":"Macquarie Bank","domain":"macquarie.com.au","position":4},{"name":"ANZ","domain":"anz.com","position":5},{"name":"Revolut","domain":"revolut.com","position":6},{"name":"Bendigo and Adelaide Bank","domain":"bendigo.com.au","position":7},{"name":"NAB","domain":"nab.com.au","position":8}]},{"provider":"openai","run":1,"model":"gpt-5.5-2026-04-23","capturedAt":"2026-10-04T10:09:47.150Z","text":"## Short answer: the best online/app-first banks in Australia\n\nIf I were choosing an everyday online bank in Australia **right now**, I’d shortlist these:\n\n1. **Macquarie Bank** — best overall “set-and-forget” online bank  \n2. **Up** — best app experience and budgeting/saving tools  \n3. **ING** — best established direct bank with broad appeal  \n4. **ubank** — best simple high-interest savings setup  \n5. **ANZ Plus** — best big-bank digital challenger  \n6. **CommBank** — not online-only, but the most-used digital banking app in Australia\n\nAustralia’s online-bank scene is a bit different from the US: the best options are mostly **digital-first arms of licensed banks** rather than standalone neobanks.\n\n---\n\n## My top recommendations\n\n### 1. **Macquarie Bank — best overall for most people**\n**Product to look at:** Macquarie Transaction Account + Macquarie Savings Account\n\nMacquarie is probably the easiest default recommendation if you want a clean, low-fee online bank without lots of hoops. Its transaction account has **no monthly account fees**, Macquarie refunds domestic ATM operator fees in Australia, and it doesn’t charge international purchase fees or overseas ATM withdrawal fees, though overseas ATM operators may still charge their own fees. ([macquarie.com.au](https://www.macquarie.com.au/everyday-banking/transaction-account.html?gclsrc=aw.ds&utm_source=openai))\n\nIt also has strong real-world customer satisfaction signals: Finder’s 2026 online-only bank account awards named **Macquarie Bank** the **Most Loved**, **Most Trusted**, and **Legendary Service** online-only bank account. ([finder.com.au](https://www.finder.com.au/finder-awards/customer-satisfaction-awards/online-only-bank-account-satisfaction)) Roy Morgan also reported that Macquarie gained main-bank share in 2024, alongside newer digital banks. ([roymorgan.com](https://www.roymorgan.com/findings/9811-mfi-share-insights-press-release-february-2025))\n\n**Best for:** everyday banking, savings, travel spending, people who want “good enough rates, no fuss.”  \n**Watch out for:** no branch network for normal day-to-day help; rates can change.\n\n---\n\n### 2. **Up — best app and budgeting experience**\n**Product to look at:** Up Everyday + Up Savers / 2Up\n\nUp is the most “neobank-feeling” option in Australia and is especially good if you want spending insights, savers, round-ups, joint money tools and a genuinely modern app. Up says it passed **1 million customers** in 2024, with more than $2 billion in deposits, and highlights features like Savers, Round Ups and 2Up joint banking. ([up.com.au](https://up.com.au/press-releases/up-hits-1-million-customers/)) Finder’s 2026 banking-app satisfaction coverage also named Up the **Most Loved Banking App**, scoring 4.48 out of 5 in that category. ([finder.com.au](https://www.finder.com.au/bank-accounts/online-only-banks-who-does-it-better))\n\nUp’s standard pricing is also strong: no monthly service fee, free direct debits/online payments, 0% international transaction fees, and no Up fee for many standard account uses. ([up.com.au](https://up.com.au/pricing/?utm_source=openai)) Up is issued by **Bendigo and Adelaide Bank**, so deposits count under that banking licence for the Financial Claims Scheme. ([up.com.au](https://up.com.au/fcs/?utm_source=openai))\n\n**Best for:** younger users, couples, budgeting, multiple savings buckets, a great app.  \n**Watch out for:** fewer “full-service bank” products than CBA/ANZ/NAB/Westpac or Macquarie.\n\n---\n\n### 3. **ING — best established online bank**\n**Product to look at:** ING Orange Everyday + Savings Maximiser\n\nING is one of the long-standing direct banks Australians actually use. ING says it has **over 2.23 million active customers** in Australia, and Canstar named ING its **2026 Bank of the Year** for the seventh year in a row, citing value across transaction/savings accounts, home loans and customer satisfaction. ([broker.ing.com.au](https://broker.ing.com.au/about-us.html?utm_source=openai))\n\nThe Orange Everyday account has no monthly account-keeping fee, no ING international transaction fees, no ING international ATM withdrawal fees, domestic ATM withdrawals with no ING fee, mobile wallet support and utility cashback features, though third-party ATM operator fees can still apply. ([ing.com.au](https://www.ing.com.au/everyday-banking.html?utm_source=openai))\n\n**Best for:** people who want a proven online bank, everyday spending, travel, and cashback-style perks.  \n**Watch out for:** ING benefits and savings rates can involve conditions, so check the current terms before relying on them.\n\n---\n\n### 4. **ubank — best for simple savings goals**\n**Product to look at:** ubank Spend + Save\n\nubank is a strong option if your priority is savings. It’s part of **NAB**, and ubank announced it had reached **1 million customers** in November 2025. ([ubank.com.au](https://www.ubank.com.au/help/current/general/86-400-is-now-ubank/who-owns-ubank?utm_source=openai)) Its Save account setup supports multiple Save accounts, savings targets, and bonus interest on combined Save balances up to a stated cap when the criteria are met. ([ubank.com.au](https://www.ubank.com.au/banking/savings-account/bonus-interest?utm_source=openai))\n\nThe key condition is simple but important: to earn bonus interest, ubank says you need a Spend account and must grow your combined Save balance by at least $1 each month, excluding bonus interest. Withdrawals are allowed, but you still need to finish the month ahead by the required amount. ([ubank.com.au](https://www.ubank.com.au/help/current/everyday-banking/earning-interest/how-do-i-earn-bonus-interest?utm_source=openai)) ubank also says it doesn’t charge fees, though third-party fees such as overseas ATM operator fees may apply. ([ubank.com.au](https://www.ubank.com.au/help/current/everyday-banking/using-your-accounts/what-fees-do-you-charge?utm_source=openai))\n\n**Best for:** savers who like separate goals and can meet the monthly growth rule.  \n**Watch out for:** if you dip into savings and fail the growth rule, you may miss bonus interest for that month.\n\n---\n\n### 5. **ANZ Plus — best big-bank digital challenger**\n**Product to look at:** ANZ Plus Everyday + ANZ Plus Growth Saver / Flex Saver\n\nANZ Plus is ANZ’s newer digital banking platform, and it has real scale: ANZ said in March 2025 that ANZ Plus had reached **1 million customers** and nearly $20 billion in deposits. ([anz.com.au](https://www.anz.com.au/newsroom/media/2025/march/anz-plus-reaches-1-million-customers--boosting-financial-wellbei/)) The account bundle is app-first, with no monthly account fees, savings goals, card controls, round-ups and other money-management features. ([exclusives.anz.com.au](https://exclusives.anz.com.au/personal/bank-accounts/manage-my-accounts/faqs/?utm_source=openai))\n\nIt’s worth considering if you like the idea of a modern app but still want a major-bank parent behind it.\n\n**Best for:** people who want a big-bank-backed digital account with savings goals and security features.  \n**Watch out for:** ANZ Plus is a separate digital experience from traditional ANZ banking, so make sure its support model and features suit you.\n\n---\n\n### 6. **CommBank — best if you mean “best online banking app,” not online-only bank**\n**Product to look at:** CommBank app + Smart Access / NetBank Saver / GoalSaver\n\nCommBank isn’t an online-only bank, but if your question is “which bank has the best online/mobile banking that people actually use?”, it has to be mentioned. CommBank says more than **9 million Australians** use the CommBank app, and Canstar named CommBank **Digital Banking – Bank of the Year** in 2026 for the 17th consecutive year. ([commbank.com.au](https://www.commbank.com.au/digital-banking/commbank-app.html)) Canstar cited features like real-time tracking, PayID, digital card access, cardless ATM transactions, AI-driven insights and 24/7 support through Ceba. ([canstar.com.au](https://www.canstar.com.au/star-ratings-awards/digital-banking/))\n\nRoy Morgan also found CBA was the main financial institution for **32.8% of Australians** in 2024, far ahead of other banks. ([roymorgan.com](https://www.roymorgan.com/findings/9811-mfi-share-insights-press-release-february-2025))\n\n**Best for:** people who want the most widely used banking app, branches, ATMs, cards, home loans and support in one place.  \n**Watch out for:** not usually the sharpest on fees or savings rates compared with online-first banks.\n\n---\n\n## Quick pick by use case\n\n- **Best overall online bank:** **Macquarie**\n- **Best app / budgeting:** **Up**\n- **Best established direct bank:** **ING**\n- **Best savings-goal setup:** **ubank**\n- **Best big-bank digital account:** **ANZ Plus**\n- **Best mainstream banking app:** **CommBank**\n\n---\n\n## Safety note\n\nFor cash deposits in Australian banks, check that the provider is an **authorised deposit-taking institution** or operating under one. The Australian Government Financial Claims Scheme protects eligible deposits up to **$250,000 per account holder per ADI**. ([apra.gov.au](https://www.apra.gov.au/financial-claims-scheme-banks-building-societies-and-credit-unions?utm_source=openai)) This limit is per banking licence, so brands under the same licence can be aggregated — for example, Up deposits are with Bendigo and Adelaide Bank, and ubank is part of NAB. ([up.com.au](https://up.com.au/fcs/?utm_source=openai))","extractedBrands":[{"name":"Macquarie Bank","domain":"macquarie.com.au","position":1},{"name":"Up","domain":"up.com.au","position":2},{"name":"ING","domain":"ing.com.au","position":3},{"name":"ubank","domain":"ubank.com.au","position":4},{"name":"ANZ Plus","domain":"anz.com.au","position":5},{"name":"CommBank","domain":"commbank.com.au","position":6}]},{"provider":"perplexity","run":1,"model":"sonar","capturedAt":"2026-10-04T10:09:47.150Z","text":"If you want the **best online banks in Australia that people actually use**, the strongest names are **ING, Up, ubank, Macquarie, and Commonwealth Bank**. For pure digital banking, **Up, ING, and ubank** stand out; for a big-bank app experience with huge real-world usage, **Commonwealth Bank** is the most established choice.[1][4][8][13]\n\n- **ING** — A top pick for everyday banking and savings; Canstar named ING **Bank of the Year – Everyday Banking** for 2026.[4]\n- **Up** — One of the most popular fully online-only banks in Australia, and Finder ranks it among the top online banks.[1]\n- **ubank** — Also consistently ranked among the leading online banks by Finder.[1]\n- **Macquarie Bank** — Strong for savings, with **5.00% p.a. ongoing** on its Savings Account and no monthly conditions, plus a **5.35% p.a.** four-month welcome rate for new customers.[2]\n- **Commonwealth Bank** — Best if you want a mainstream bank with a very strong app and digital platform; Canstar awarded CommBank **Digital Banking** for 2026, its 17th year in a row.[8][13]\n\nA practical way to choose:\n\n| Best for | Bank | Why people use it |\n|---|---|---|\n| Everyday banking | **ING** | Well-regarded all-rounder, strong award record[4][7] |\n| App-first banking | **Up** | Popular digital-native bank[1] |\n| Simple online banking | **ubank** | Often listed among the best online banks[1] |\n| Savings rate | **Macquarie** | Strong ongoing savings rate with no monthly conditions[2] |\n| Mainstream full-service banking | **Commonwealth Bank** | Huge customer base and highly rated digital banking[8][13] |\n\nIf you want the most sensible short list for most Australians, I’d start with **ING for everyday use**, **Macquarie for savings**, and **Up or ubank for a clean app-first experience**.[1][2][4]","extractedBrands":[{"name":"ING","domain":"ing.com.au","position":1},{"name":"Up","domain":"up.com.au","position":2},{"name":"ubank","domain":"ubank.com.au","position":3},{"name":"Macquarie Bank","domain":"macquarie.com","position":4},{"name":"Commonwealth Bank","domain":"commbank.com.au","position":5}]}]}