{"source":"CiteHawk AI Index","record":"online banks — 2026-11","url":"https://www.citehawk.com/leaderboards/editions/2026-11/online-banks/au","immutable":true,"snapshotId":"5e47bfe9-1a3a-44e8-9d40-33e611335b1c","capturedAt":"2026-11-03T05:02:06.184+00:00","contentHash":"e058641496bdf733db9b8fc5feb0c2257d9e352af6ca89d0eb9a00b0f122aa35","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":"c45953a641fc763b2597a6a3f8837471f65b7550827fe50008bb0e5221fca519","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","bing_copilot","google_aio","google_ai_mode"],"models":{"grok":"grok-4.3","claude":"claude-sonnet-5-5","gemini":"gemini-3.6-flash","openai":"gpt-6-sol","deepseek":"deepseek-flash","google_aio":"google_aio","perplexity":"sonar","bing_copilot":"bing_copilot","google_ai_mode":"google_ai_mode"},"runsPerProvider":1,"totalCalls":18,"ranking":[{"rank":1,"brand":"Up","domain":"up.com.au","entityId":"fb64e01a-2bef-4738-9743-57d54d518893","score":67.4,"mentions":9,"recommendedBy":["openai","claude","perplexity","deepseek","grok","bing_copilot","gemini","google_aio","google_ai_mode"],"averagePositionByProvider":{"grok":1,"claude":1,"gemini":2,"openai":1,"deepseek":4,"google_aio":1,"perplexity":2,"bing_copilot":2,"google_ai_mode":3}},{"rank":2,"brand":"ING","domain":"ing.com.au","entityId":"f5cd2488-a279-4be9-8c29-912073d53382","score":65.9,"mentions":9,"recommendedBy":["openai","claude","gemini","perplexity","deepseek","grok","bing_copilot","google_aio","google_ai_mode"],"averagePositionByProvider":{"grok":2,"claude":2,"gemini":3,"openai":4,"deepseek":1,"google_aio":2,"perplexity":3,"bing_copilot":3,"google_ai_mode":1}},{"rank":3,"brand":"Macquarie Bank","domain":"macquarie.com.au","entityId":"893833b8-3d0a-4795-9b7f-71ec3b48b55e","score":64.7,"mentions":9,"recommendedBy":["openai","claude","gemini","perplexity","deepseek","grok","bing_copilot","google_aio","google_ai_mode"],"averagePositionByProvider":{"grok":4,"claude":6,"gemini":1,"openai":2,"deepseek":2,"google_aio":4,"perplexity":1,"bing_copilot":4,"google_ai_mode":2}},{"rank":4,"brand":"Ubank","domain":"ubank.com.au","entityId":"188534fd-91e2-4738-908d-cf7635966512","score":57.3,"mentions":7,"recommendedBy":["openai","claude","perplexity","deepseek","grok","bing_copilot","google_aio"],"averagePositionByProvider":{"grok":3,"claude":3,"openai":3,"deepseek":3,"google_aio":3,"perplexity":4,"bing_copilot":1}},{"rank":5,"brand":"ANZ Plus","domain":"anz.com","entityId":"0535b3e1-d3df-4bb2-89d8-c086bceb9ac3","score":47.6,"mentions":6,"recommendedBy":["openai","claude","gemini","perplexity","google_aio","google_ai_mode"],"averagePositionByProvider":{"claude":7,"gemini":4,"openai":5,"google_aio":5,"perplexity":5,"google_ai_mode":4}},{"rank":6,"brand":"Revolut","domain":"revolut.com","entityId":"6a07ac89-8fbf-4053-bdb7-3a94fa91ed37","score":17.2,"mentions":2,"recommendedBy":["claude","grok"],"averagePositionByProvider":{"grok":5,"claude":8}}],"answers":[{"provider":"bing_copilot","run":1,"model":"bing_copilot","capturedAt":"2026-11-03T05:02:06.191Z","text":"The strongest online banks Australians actually use today are Ubank, Up, ING, Macquarie, and award‑winning digital platforms like Commonwealth Bank and Beyond Bank, each excelling in different areas such as interest rates, app quality, and digital tools.\n\n⭐ Quick Summary (Top Picks People Actually Use)\n\nUbank — Best for high interest rates and strong savings tools.\nUp Bank — Best banking app and customer satisfaction; most loved digital experience.\nING — Best for global use, ATM rebates, and a trusted long‑term digital brand.\nMacquarie Bank — Best for premium digital banking, high interest with no conditions.\nCommonwealth Bank (CBA) — Best traditional bank digital platform; Digital Banking Bank of the Year 2026.\nBeyond Bank — Best customer‑owned digital bank; Customer-Owned Digital Banking Award 2026.\n\n🏆 Top Online Banks (Based on Features, Rates & Customer Use)\n\nUbank (Owned by NAB)\n\nBest for: High interest savings, spending insights, multi-goal budgeting.\n\nOffers top-tier savings rates (5.10% in 2025).\nExcellent spending categorisation and financial overview tools.\nDesktop + mobile access.\nConditions: $200 monthly deposit required for bonus interest.\n\nUp Bank\n\nBest for: App quality, budgeting tools, automation.\n\nNamed Most Loved Banking App by Finder in 2026.\nInnovative features: savings challenges, MayBuy, round-ups, bill prediction.\nNo foreign transaction fees.\nInterest slightly lower (4.35%).\n\nING\n\nBest for: Travelers, ATM rebates, global accessibility.\n\nNo foreign transaction fees and ATM fee rebates.\nCompetitive savings rates.\nVery high customer satisfaction (top 5 in Australia).\nConditions to earn bonus interest are stricter.\n\nMacquarie Bank\n\nBest for: Full-service digital banking with premium support.\n\nHigh interest rates with no conditions.\nNo foreign transaction fees.\nStrong transaction categorisation and accounting integration.\nApp is functional but less modern-looking.\n\n🥇 Award-Winning Digital Platforms (2026 Canstar Awards)\n\nCommonwealth Bank (CBA)\n\nWinner: Digital Banking – Bank of the Year 2026 (17th year in a row). Why it stands out:\n\nOver 9 million active app users.\nReal-time tracking, PayID, digital cards, cardless ATM, AI insights.\nStrong transfers and transaction tools.\n\nBeyond Bank\n\nWinner: Customer-Owned Digital Banking Award 2026 (12th year running). Why it stands out:\n\nExcellent budgeting tools and account information features.\nStrong customer support and digital assistance.\n\n📊 Comparison Table (What Each Bank Is Best At)\n\nBank | Best For | Key Strengths\nUbank | High interest savings | Top-tier rates, spending insights 1\nUp Bank | App experience | Most loved app, budgeting tools 1\nING | Travel & ATM access | No FX fees, ATM rebates 1\nMacquarie | Premium digital banking | High interest, strong categorisation 1\nCBA | Best traditional digital platform | Award-winning app, AI insights 1\nBeyond Bank | Best customer-owned digital bank | Strong budgeting & support tools 1\n3 Sources3\n\n✅ How to Choose\n\nPick based on your priority:\n\nHighest interest → Ubank or Macquarie.\nBest app → Up Bank.\nTravel-friendly → ING.\nFull-service + digital strength → Commonwealth Bank.\nCustomer-owned option → Beyond Bank.\n\n⚠️ Financial Advice Note\n\nThis is general information only, not personal financial advice. For tailored guidance, consider speaking with a qualified financial professional.\n\nIf you want, I can help you choose the best bank based on your specific needs (e.g., savings, travel, budgeting, business use).","extractedBrands":[{"name":"Ubank","domain":"ubank.com.au","position":1},{"name":"Up","domain":"up.com.au","position":2},{"name":"ING","domain":"ing.com.au","position":3},{"name":"Macquarie","domain":"macquarie.com.au","position":4},{"name":"Commonwealth Bank","domain":"commbank.com.au","position":5},{"name":"Beyond Bank","domain":"beyondbank.com.au","position":6}]},{"provider":"claude","run":1,"model":"claude-sonnet-5-5","capturedAt":"2026-11-03T05:02:06.191Z","text":"**Top online banks in Australia**\n\n1. **Up (Bendigo and Adelaide Bank)**\n   - It's best for the app and day-to-day banking. Up operates entirely online, with no physical branches.\n   - The 2026 Finder Customer Satisfaction Awards found that Up had the best banking app.\n   - It's a good fit if you want budgeting tools and a modern interface.\n\n2. **ING**\n   - It's best for an all-rounder with savings and home loans. ING launched in 1999 as Australia's first direct bank, with no branches and only digital access.\n   - Its Savings Maximiser account is often listed as a top savings pick. The bonus rate depends on meeting conditions, such as minimum deposits or card spending.\n   - Online banks like ING, AMP, ME and Ubank have been around longer than mobile-only banks. That gives them a more diverse product range.\n\n3. **ubank (owned by NAB)**\n   - It's best for savings goals and home loans. ubank is owned by NAB and operates entirely online.\n   - One guide rates it as having the best all-around package, with high interest rates, a good app experience and comprehensive features. That guide is older, so check current rates.\n\n4. **Other options**\n   - **ME and AMP Bank GO** are digital banks with a broader product range. Finder says they're digital banks but not neobanks.\n   - **Macquarie Bank and ANZ Plus** are also commonly named as popular digital options. One roundup lists Up, ING, Macquarie, ANZ Plus and NAB's digital platforms among the most popular.\n   - **Revolut and Wise** are better for travel and international transfers. Revolut Payments Australia was granted an ADI licence by APRA on 21 July 2026. That means it's moving toward becoming a fully licensed bank.\n\n**Quick picks**\n- **Best app:** Up\n- **Best for savings:** ING or ubank. Rates change often, so compare them before you commit.\n- **Best for travel or overseas payments:** Wise or Revolut, alongside a main bank account\n- **Want branches as well as digital banking:** CommBank, NAB, Westpac or ANZ. The \"best\" bank depends on your goals.\n\n**Notes**\n- Xinja and Volt have both closed. Avoid older guides that still list them.\n- Check current rates and bonus conditions on Finder or the banks' own sites. They change often, and several of the sources above are a year or more old.\n- Deposits with APRA-licensed banks are covered by the Financial Claims Scheme, up to $250,000 per person per institution. I didn't confirm that in the search results, so check it on the APRA site.\n\nI can narrow this down to savings accounts, everyday spending or home loans if you tell me which you need.","extractedBrands":[{"name":"Up","domain":null,"position":1},{"name":"ING","domain":"ing.com.au","position":2},{"name":"ubank","domain":"ubank.com.au","position":3},{"name":"ME","domain":"mebank.com.au","position":4},{"name":"AMP Bank GO","domain":"amp.com.au","position":4},{"name":"Macquarie Bank","domain":"macquarie.com.au","position":4},{"name":"ANZ Plus","domain":"anz.com.au","position":4},{"name":"Revolut","domain":"revolut.com","position":4},{"name":"Wise","domain":"wise.com","position":4},{"name":"CommBank","domain":"commbank.com.au","position":4},{"name":"NAB","domain":"nab.com.au","position":4},{"name":"Westpac","domain":"westpac.com.au","position":4}]},{"provider":"deepseek","run":1,"model":"deepseek-flash","capturedAt":"2026-11-03T05:02:06.191Z","text":"If you’re in Australia and want “online banks people actually use”, I’d shortlist **ING, Macquarie, ubank, Up, Great Southern Bank**, plus **HSBC Everyday Global / Wise** for travel. Stick to ADI-backed banks where possible — several Aussie neobanks (Xinja, Volt) failed, so the survivors are the safer picks.\n\n| Brand | Best for | Main products | Why people use it | Watch-outs |\n|---|---|---|---|---|\n| **ING** | Maximising savings if you meet conditions | **Orange Everyday + Savings Maximiser** | Very popular online bank; no monthly account fee; strong bonus savings rate; good ATM/international fee perks historically if you meet monthly criteria | Savings bonus has hoops — usually deposit $1,000+/month, make 5 card purchases, grow balance. Check current T&Cs |\n| **Macquarie** | Best no-hoops all-rounder | **Transaction Account + Savings Account** | Excellent app, no monthly fee, free ATM use, competitive savings, good for salary/PayID/BPAY, popular with professionals | No branches; savings rate is variable |\n| **ubank** | Simple NAB-backed digital bank | **Spend + Save** | Clean app, no monthly fees, decent bonus savings, owned by NAB | Bonus savings conditions apply; limited support vs big four |\n| **Up** | Best app/budgeting for younger users | **Everyday + Saver** | Owned by Bendigo and Adelaide Bank; great app, budgeting features, multiple savers, popular with under-35s | Bonus interest conditions; no branches |\n| **Great Southern Bank** | Customer-owned alternative | **Everyday Edge + savings** | Customer-owned, competitive products, good if you don’t want a big-four bank | Smaller brand; check account fees/conditions |\n| **HSBC Everyday Global** | Travel/multi-currency | Everyday Global Account | Popular for overseas spending and multi-currency; cashback offers historically | Not online-only; monthly deposit conditions may apply |\n| **Wise / Revolut** | Travel/multi-currency cards | Multi-currency card/account | Very useful for overseas travel and FX | **Not Australian ADIs** — not covered by the government deposit guarantee |\n\n**My practical picks:**\n- **One-bank setup:** **Macquarie** — simplest no-hoops transaction + savings.\n- **Max savings:** **ING Orange Everyday + Savings Maximiser** if you’ll meet the monthly conditions.\n- **Best app:** **Up**.\n- **NAB-backed simple option:** **ubank**.\n- **Travel:** **HSBC Everyday Global** if you want a bank account, or **Wise** for a travel card — but remember Wise isn’t a bank.\n\nRates and bonus conditions change often, so check the current rate and T&Cs before switching. All Australian ADIs are covered by the Financial Claims Scheme up to **$250k per person per ADI**; Wise/Revolut are not.","extractedBrands":[{"name":"ING","domain":"ing.com.au","position":1},{"name":"Macquarie","domain":"macquarie.com.au","position":2},{"name":"ubank","domain":"ubank.com.au","position":3},{"name":"Up","domain":"up.com.au","position":4},{"name":"Great Southern Bank","domain":"greatsouthernbank.com.au","position":5},{"name":"HSBC Everyday Global","domain":"hsbc.com.au","position":6},{"name":"Wise","domain":null,"position":7},{"name":"Revolut","domain":null,"position":8}]},{"provider":"gemini","run":1,"model":"gemini-3.6-flash","capturedAt":"2026-11-03T05:02:06.191Z","text":"The online and digital banking space in Australia (often discussed on local finance communities like r/AusFinance) has matured significantly. Australians have moved beyond traditional brick-and-mortar branches, and digital banks offer lower fees, higher savings rates, and significantly better app experiences.\n\nAll banks listed below hold an **Authorised Deposit-taking Institution (ADI) licence** from APRA, meaning your deposits are protected up to **$250,000 AUD** under the Australian Federal Government's Financial Claims Scheme.\n\n---\n\n### 1. Macquarie Bank — *Best All-Rounder & Best \"No-Hoops\" Savings*\nMacquarie has become one of the most popular everyday online banks in Australia because it eliminates the annoying \"bonus rate hoops\" that other banks require.\n\n* **Why people love it:**\n  * **No monthly conditions:** You earn a high variable savings rate (around 5.00% p.a.) without needing to deposit a certain amount each month, make 5 debit transactions, or grow your balance.\n  * **No international transaction fees:** Excellent debit card for travelling overseas or shopping online in foreign currency.\n  * **ATM refunds:** Macquarie refunds domestic ATM fees charged by other operators.\n  * **Top-notch security & app:** Features standard fast Osko/PayID, clean UI, and push notifications for every spend.\n\n---\n\n### 2. Up Bank — *Best Mobile App, Budgeting & Everyday Banking*\nPowered by Bendigo and Adelaide Bank, **Up** is widely regarded as having the best mobile app experience in the country, especially popular among Gen Z, Millennials, and tech-savvy users.\n\n* **Why people love it:**\n  * **App experience & UI:** Hyper-intuitive with instant payment notifications, auto-categorised spending insights, spend-tracking, and joint account capabilities (*2Up*).\n  * **Easy savings goals:** Unlimited \"Savers\" buckets (e.g., travel fund, tax, car service) with customizable icons and covers.\n  * **Low-friction bonus interest:** To get their full bonus savings rate, you only need to make 5 debit card purchases a month (amount doesn’t matter—even buying 5 cheap coffees counts).\n  * **No foreign transaction fees:** Great for international travel or online purchases.\n\n---\n\n### 3. ubank (by NAB) — *Best for Straightforward High-Yield Savings*\nOwned by National Australia Bank (NAB), ubank offers a digital-first platform focused on delivering high savings rates with minimal fuss.\n\n* **Why people love it:**\n  * **Competitive high interest:** Offers high-tier savings rates (around 5.00% – 5.50% p.a.).\n  * **Simple monthly requirement:** Unlike ING, ubank generally only requires a simple monthly deposit (e.g., deposit $200/month across any account) to unlock the bonus rate, without forcing card spend.\n  * **Clean Spend & Save accounts:** Easy to open multiple sub-accounts for saving targets.\n\n---\n\n### 4. ING (Orange Everyday + Savings Maximiser) — *Best Headline Interest Rate (If You Do the Work)*\nING is a veteran of Australian online banking and consistently advertises top-of-the-market savings rates. However, it comes with strict monthly conditions (\"hoops\").\n\n* **Why people love it:**\n  * **High savings rate:** Offers one of the absolute highest interest rates in Australia (up to 5.50% p.a.).\n  * **Rebates on global ATM & FX fees:** If you hit the monthly criteria, ING waives international transaction fees and rebates global ATM fees.\n* **The Catch:** To get the bonus rate each month, you must:\n  1. Deposit $1,000+ per month into your Orange Everyday account.\n  2. Make 5+ settled debit card purchases.\n  3. Grow your Savings Maximiser balance every month (excluding interest earned).\n  *(If you miss a month, your interest drops to the near-zero base rate).*\n\n---\n\n### 5. ANZ Plus — *Best Digital Arm of the Big Four Banks*\nIf you like the peace of mind of a Big Four bank but want a completely modern, branchless mobile setup, **ANZ Plus** is ANZ's redesigned standalone app and account.\n\n* **Why people love it:**\n  * High savings rates without debit card spend requirements.\n  * Built-in financial management tools, expense categorization, and smart goal tracking directly inside the app.\n  * Backed directly by ANZ's balance sheet.\n\n---\n\n### Summary Recommendation: Which One Should You Pick?\n\n| If you want... | Go with... |\n| :--- | :--- |\n| **High savings rate with NO monthly rules/hoops** | **Macquarie Bank** |\n| **The best app, budgeting tools, and joint accounts** | **Up Bank** |\n| **Maximum interest with simple monthly deposits** | **ubank** |\n| **The highest possible interest rate (and willing to meet strict conditions)** | **ING** |\n| **Big Four stability with a modern app** | **ANZ Plus** or **CommBank** (for feature richness) |\n\n**Pro Tip:** A very common setup in Australia is using **Up** or **Macquarie** for day-to-day spending and foreign transactions (due to zero FX fees), while keeping bulk savings in **Macquarie** or **ubank** for hassle-free high yield.","extractedBrands":[{"name":"Macquarie Bank","domain":"macquarie.com","position":1},{"name":"Up Bank","domain":null,"position":2},{"name":"ubank","domain":"nab.com.au","position":3},{"name":"ING","domain":"ing.com.au","position":4},{"name":"ANZ Plus","domain":"anz.com","position":5},{"name":"CommBank","domain":"commbank.com.au","position":6},{"name":"Bendigo and Adelaide Bank","domain":"bendigo.com.au","position":7},{"name":"National Australia Bank","domain":"nab.com.au","position":8}]},{"provider":"google_ai_mode","run":1,"model":"google_ai_mode","capturedAt":"2026-11-03T05:02:06.191Z","text":"ING ING, Macquarie Bank Macquarie Bank, Up Bank Up Bank, and ANZ Plus ANZ Plus are the top online and digital-first banking brands widely used across Australia, praised for zero monthly account fees, great mobile apps, and strong everyday or savings value.\n\nTop Online Banking Brands & Popular Products\n\n(Orange Everyday) Best for: Everyday banking, international travel, and conditional high-interest savings. Key Features: $0 monthly account fee, rebates on international ATM fees and overseas purchase fees (when meeting monthly deposit and card-use criteria), and linked high-yield savings (Savings Maximiser). Voted a leading everyday bank by Canstar Canstar. (Macquarie Transaction & Savings) Best for: Seamless digital experience, high everyday interest rates, and fee-free global spending. Key Features: $0 monthly account fees, 0% international ATM or transaction fees, high interest rates on transaction and savings accounts without complex monthly hoops, and great budgeting tools. Best for: Customer satisfaction, budgeting, and a modern app interface. Key Features: Built on Bendigo and Adelaide Bank infrastructure, Up is famous for winning customer satisfaction awards, automated \"Savers\" for compartmentalising money, zero foreign transaction fees on some features, and instant spend notifications. (ANZ Plus Everyday) Best for: A clean, app-only banking experience backed by a major bank. Key Features: $0 monthly account fees, built-in financial coaching/tracking tools inside the app, and zero-fee standard transactions, operating separately from classic ANZ accounts. (Easy Transaction Account) Best for: Everyday simplicity and digital-friendly back-by-CBA infrastructure. Key Features: $0 monthly account fee, $0 international ATM fees on specific setups, and full Apple/Google Pay integration with wide ATM access.\n\nQuick Comparison of Popular Online Accounts\n\nBrand / Product | Monthly Account Fee | International ATM / Card Fees | Best Suited For\nING Orange Everyday | $0 | Rebated (with criteria) | Everyday use & travelers\nMacquarie Transaction | $0 | $0 international fees | High-interest & no-fuss banking\nUp Bank Saver/AccountUp Bank Saver/Account | $0 | Low/transparent fees | App experience & budgeting\nANZ Plus EverydayANZ Plus Everyday | $0 | Standard/low cost | Modern digital-only major bank\nBankwest Easy AccountBankwest Easy Account | $0 | $0 select international fees | Simple fee-free daily banking\n\nAre you looking primarily for a high-interest savings account, an everyday transaction account, or a travel-friendly card ? Tell me what matters most so I can narrow down the best fit.","extractedBrands":[{"name":"ING","domain":"ing.com.au","position":1},{"name":"Macquarie Bank","domain":"macquarie.com.au","position":2},{"name":"Up Bank","domain":null,"position":3},{"name":"ANZ Plus","domain":"anz.com","position":4},{"name":"Bendigo and Adelaide Bank","domain":"bendigo.com.au","position":5},{"name":"CBA","domain":"cba.com.au","position":6},{"name":"Bankwest","domain":"bankwest.com.au","position":7},{"name":"Canstar","domain":null,"position":8}]},{"provider":"google_aio","run":1,"model":"google_aio","capturedAt":"2026-11-03T05:02:06.191Z","text":"Australia has a strong lineup of popular digital-first and online banks that people actually use for everyday banking, high-interest savings, and travel.\n\nTop Online & Digital-First Brands in Australia\n\nUp Bank Best for: Customer satisfaction and budgeting apps. Why people use it: Rated the most-loved banking app in Australia, Up offers digital “Savers” with custom automation, instant notifications, zero monthly fees, and great tracking tools. ING Australia Best for: Daily transaction accounts and travel. Why people use it: The Orange Everyday account has $0 monthly account-keeping fees and refunds international transaction and ATM fees (when you meet monthly deposit/spend criteria), paired with the high-interest Savings Maximiser. Ubank (UBank) Best for: All-round everyday banking and high-yield savings. Why people use it: Known for offering competitive, straightforward interest rates on savings with low friction and no unnecessary fees. Macquarie Bank Best for: Digital-first professionals, fee-free banking, and mortgage offsets. Why people use it: Clean mobile app, zero monthly account fees, no ATM fees at major networks, and perks like discounted gift cards (e.g., Amazon and major supermarkets). ANZ Plus (Digital arm of ANZ) Best for: Simple, app-based banking with no monthly fees. Why people use it: Combines a transaction and savings account inside a modern app with built-in financial wellness tools.\n\nKey Comparisons\n\nBank Monthly Fee Standout Feature\nUp Bank $0 Top-rated budgeting app & automated Savers\nING $0 International ATM/card fee refunds for travelers\nUbank $0 Strong everyday all-rounder and savings rates\nMacquarie $0 Smart insights, card discounts, and mortgage integration\nANZ Plus $0 Integrated digital savings tools from a major institution\n\nAre you looking primarily for a high-interest savings account, an everyday transaction account with zero fees, or an account for traveling overseas ?","extractedBrands":[{"name":"Up Bank","domain":null,"position":1},{"name":"ING Australia","domain":"ing.com.au","position":2},{"name":"Ubank","domain":null,"position":3},{"name":"Macquarie Bank","domain":"macquarie.com","position":4},{"name":"ANZ Plus","domain":"anz.com","position":5}]},{"provider":"grok","run":1,"model":"grok-4.3","capturedAt":"2026-11-03T05:02:06.191Z","text":"**The top online/digital banks (neobanks or digital-first options) that Australians actually use and rate highly in 2026 are Up, ING, ubank, Macquarie, and Revolut.**[[1]](https://www.finder.com.au/bank-accounts/best-bank-accounts)[[2]](https://www.finder.com.au/bank-accounts/online-only-banks-who-does-it-better)[[3]](https://www.canstar.com.au/star-ratings-awards/everyday-banking-awards/)\n\nThese stand out in customer satisfaction surveys, app popularity rankings, awards (e.g., Finder and Canstar), and mentions of real-world usage. Pure neobanks without branches have faced challenges in Australia—many early ones closed or were acquired—but survivors and established digital players thrive on strong apps, no/low fees, competitive savings rates, and features like budgeting tools or international perks.[[4]](https://www.finder.com.au/bank-accounts/digital-banks)[[5]](https://www.mozo.com.au/fintech/digital-banking-and-neobanks)\n\n### Top Recommendations\nHere are the standout options based on recent awards, reviews, and popularity:\n\n- **Up (by Bendigo and Adelaide Bank)**: Often the favourite for everyday use and app experience. It wins or ranks near the top in Finder customer satisfaction awards (including best banking app and most loved), with high NPS scores and praise for budgeting tools, spending insights, savings pots/goals, and a clean mobile-first interface. No monthly fees, solid for younger users and couples (e.g., 2Up joint accounts). Deposits are protected under the $250k Financial Claims Scheme (FCS). It's one of the most recommended digital options people actually switch to or use as a primary or secondary account.[[1]](https://www.finder.com.au/bank-accounts/best-bank-accounts)[[2]](https://www.finder.com.au/bank-accounts/online-only-banks-who-does-it-better)[[6]](https://www.canstar.com.au/star-ratings-awards/most-satisfied-customers-banking-awards/)\n\n- **ING (Orange Everyday + Savings Maximiser)**: Frequently wins Canstar's Bank of the Year – Everyday Banking award. Praised for no international transaction fees, ATM fee refunds overseas (third-party fees may apply), and competitive savings rates (e.g., up to ~5.5–5.75% p.a. with conditions like monthly deposits and card purchases). Fully online with a strong app. Great value if you meet the bonus criteria; popular for both transaction and savings accounts.[[3]](https://www.canstar.com.au/star-ratings-awards/everyday-banking-awards/)[[7]](https://savingsflow.net/savings)\n\n- **ubank (NAB-owned, evolved from 86 400)**: A strong digital-first player with good app features and competitive savings rates (often matching or close to ING's headline rates with relatively straightforward conditions). Popular in finance app rankings alongside the majors. No monthly fees on core accounts; appeals to those wanting NAB backing with a modern interface.[[8]](https://giraffy.com/au/en/banking/bank-accounts)[[9]](https://www.mozo.com.au/bank-accounts/guides/online-banks)\n\n- **Macquarie Bank**: Regularly tops \"best transaction account\" lists (e.g., Finder 2026 award winner) for no monthly fees, no international transaction fees, ATM fee refunds, and straightforward high interest on savings (ongoing competitive rates with fewer conditions than some rivals). Strong digital offering even though it has some physical presence options. Excellent all-rounder for fees and flexibility.[[1]](https://www.finder.com.au/bank-accounts/best-bank-accounts)[[10]](https://www.mozo.com.au/best/best-bank-accounts)\n\n- **Revolut**: Growing fast, especially for travel, international transfers, multi-currency accounts, and budgeting. It gained full ADI status in 2026 and ranks highly in app popularity and consideration surveys. Good for those who want more fintech-style features beyond basic banking.[[4]](https://www.finder.com.au/bank-accounts/digital-banks)[[5]](https://www.mozo.com.au/fintech/digital-banking-and-neobanks)\n\n### Other Notes\n- **Big Four apps** (CommBank, NAB, ANZ, Westpac) dominate overall downloads and usage because of brand trust, branches/ATMs, and reliability, but they aren't \"online-only.\" Many people pair them with a digital challenger like Up or ING for better rates or app features.[[11]](https://www.appbrain.com/apps/country-australia/finance)[[12]](https://www.similarweb.com/top-apps/google/australia/finance/top-free/)\n- **Savings focus**: Check current rates on sites like SavingsFlow or Finder, as they change (e.g., ubank, ING, Macquarie, and others often lead with bonus rates requiring deposits/spend).[[7]](https://savingsflow.net/savings)\n- **Switching tips**: Use the Consumer Data Right (CDR/Open Banking) for easy account switching. All reputable options offer PayID and are FCS-protected (up to $250k per account holder per ADI).\n\nCompare based on your needs—everyday spending, savings bonuses, travel, or budgeting—and check the latest fees/rates directly, as they fluctuate. Up and ING are the most consistently praised for pure digital experiences that real users love. If you're after the absolute latest app rankings or specific rates, a quick search on Finder or Canstar helps.","extractedBrands":[{"name":"Up","domain":null,"position":1},{"name":"ING","domain":"ing.com.au","position":2},{"name":"ubank","domain":null,"position":3},{"name":"Macquarie","domain":"macquarie.com.au","position":4},{"name":"Revolut","domain":"revolut.com","position":5}]},{"provider":"openai","run":1,"model":"gpt-6-sol","capturedAt":"2026-11-03T05:02:06.191Z","text":"If you’re in Australia and want an **online-first bank people actually use**, I’d shortlist these five. There’s no single “best” account: the choice mainly comes down to whether you value an easy everyday app, a savings rate, or fewer conditions.\n\n| Pick | Best for | What to know |\n|---|---|---|\n| **Up** | **Everyday banking and budgeting** | A particularly good pick for spending insights, automatic saving and shared finances through **2Up**. Its everyday account has no monthly service fee or Up international transaction fee. Up reported reaching **one million customers** in 2024. ([up.com.au](https://up.com.au/features/home-savers?utm_source=openai)) |\n| **Macquarie** | **Straightforward banking and savings** | My pick if you dislike savings “hoops”: its transaction and savings accounts have no minimum deposit or transaction conditions for interest. They’re digital-only, and Macquarie charges no account fees on them. ([macquarie.com.au](https://www.macquarie.com.au/help/personal/transaction-and-savings-accounts/opening-an-account/comparing-transaction-and-savings-accounts.html?utm_source=openai)) |\n| **Ubank** | **A simple Spend + Save setup** | NAB’s digital banking brand is a popular savings contender; it reported **one million customers** in 2025. To earn Save bonus interest, you need a Spend account and must grow your combined Save balance by at least **$1 each month, excluding interest**. ([ubank.com.au](https://www.ubank.com.au/newsroom/ubank-reaches-1-million-customers?utm_source=openai)) |\n| **ING** | **A well-established online-bank option** | Pair **Orange Everyday** with **Savings Booster**. Booster’s higher rate requires your balance to grow by **$100 a month, excluding interest**; an introductory component is available to eligible new ING savers. ([ing.com.au](https://www.ing.com.au/savings/savings-booster.html?utm_source=openai)) |\n| **ANZ Plus** | **Saving within a big-bank digital platform** | Its **Growth Saver** rewards a $100 monthly balance increase; **Flex Saver** is the more flexible option without monthly qualifiers. ANZ Plus reported **one million customers** in March 2025. ([anz.com.au](https://www.anz.com.au/plus/accounts/save/?utm_source=openai)) |\n\n**My quick answer:** start with **Up** if the app and budgeting matter most; choose **Macquarie** if you want savings without monthly tasks; compare **Ubank, ING and ANZ Plus** if you’re willing to meet conditions for a higher rate. Check the *ongoing* rate, balance limit and eligibility immediately before opening—savings rates can change.\n\nFor deposit protection, Australia’s Financial Claims Scheme generally covers eligible deposits up to **$250,000 per account holder, per authorised deposit-taking institution**—not separately for every brand or account. ([apra.gov.au](https://www.apra.gov.au/types-accounts-covered-under-financial-claims-scheme?utm_source=openai))","extractedBrands":[{"name":"Up","domain":"up.com.au","position":1},{"name":"Macquarie","domain":"macquarie.com.au","position":2},{"name":"Ubank","domain":"ubank.com.au","position":3},{"name":"ING","domain":"ing.com.au","position":4},{"name":"ANZ Plus","domain":"anz.com.au","position":5}]},{"provider":"perplexity","run":1,"model":"sonar","capturedAt":"2026-11-03T05:02:06.191Z","text":"For most Australians, the strongest shortlist is **Macquarie, Up, ING, ubank and ANZ Plus**. These are established digital-first products with meaningful Australian customer use—not just small fintech experiments.[1][3]\n\n| Best for | Recommendation | Why consider it |\n|---|---|---|\n| **Best overall online bank** | **Macquarie Bank** | A polished app, competitive savings products, no traditional branch dependence and strong customer satisfaction; it won Finder’s 2026 “Most Loved Online-Only Bank Account” award.[10] |\n| **Best app and budgeting tools** | **Up Bank** | Excellent spending categorisation, budgeting features, shared “2Up” accounts and a particularly well-regarded mobile app. Finder named Up’s app the best in its 2026 customer-satisfaction awards.[1] |\n| **Best everyday banking** | **ING Orange Everyday** | A long-established direct bank with a broad range of transaction and savings products. ING won Canstar’s 2026 Bank of the Year—Everyday Banking award.[6] |\n| **Best simple high-interest savings setup** | **ubank** | Straightforward app-based banking and competitive savings options, especially if you can meet its monthly deposit or balance conditions.[1][7] |\n| **Best big-bank digital option** | **ANZ Plus** | A modern app-first experience backed by ANZ, useful if you prefer a major-bank brand while still wanting digital-first banking.[2][3] |\n| **Best mainstream banking app** | **CommBank app / NetBank** | Not an online-only bank, but a practical choice if you value a large ATM/branch network, extensive features and widespread Australian acceptance.[2][3] |\n\n### Practical recommendations\n\n- **Choose Macquarie** if you want one dependable online bank for everyday spending and savings.\n- **Choose Up** if app design, budgeting and spending insights matter most.\n- **Choose ING** if you want a mature direct bank and are comfortable meeting account conditions to receive fee waivers or bonus benefits.\n- **Choose ubank** if your priority is a simple savings-focused setup.\n- **Choose CommBank or ANZ Plus** if access to a major-bank ecosystem matters more than being fully branchless.\n\nCheck the current interest rate, monthly deposit requirements, ATM rules, international transaction fees and bonus-interest conditions before opening an account, since these can change frequently. The highest advertised savings rate is often conditional rather than automatically available to every customer.","extractedBrands":[{"name":"Macquarie Bank","domain":"macquarie.com","position":1},{"name":"Up Bank","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}]}]}