Online Banking
Helpful Information on Online Banking Accounts
What is online banking?
Online banking means managing your banking using your financial institution’s internet banking website or mobile banking app. This can include checking your account balance, transferring money, making payments and paying bills.
Online banking can be used to manage banking products like transaction accounts, savings accounts, credit cards and home loans.
Many financial institutions have online banking channels as well as physical branches. But there are also some digital banks (commonly called neobanks) that have no physical branches, so customers manage all their banking online.
How do Canstar’s Digital Banking Awards work?
Canstar ‘s Digital Banking Awards recognise the Australian Banking institutions offering their customers the most complete digital experience, both on desktop and mobile. The awards are given to the bank and customer-owned bank found to offer the highest-quality online and mobile services to further enhance customer experiences.
Institutions are awarded points for the array of features available on the platform. Some of the factors Canstar looks at include:
- payment and transaction functionality, including the ability to send money and any restrictions (such as transfer limits or settlement times), bill payment options and contactless payment options (such as Apple Pay and Google Pay)
- research and application for banking products, including education tools and the availability of online applications
- security processes, including secondary authentication, automatic log-off, automatic lockout, strange transaction protocol and customer liability for not-at-fault transactions
- other banking features, including available account information and budgeting tools, and
- customer support, including call centres and online chat functions.
Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.