2026 Everyday Banking

We don't just look at one product. Value in everyday banking comes from several places at once: your transaction account, your savings account, and your credit card. So, the award looks at all three.

Transaction accounts are assessed based on full account access, including available ATM and bill payment facilities, the ability to make in-store purchases, and how they handle a high volume of transactions. This assessment carries the most weight in a bank's score, reflecting the value of the account most people actually access day-to-day, tested under real, frequent use rather than light, occasional use.

For the first time, flexible savings accounts were also assessed this year, based on the value offered to savers who prefer the simplicity of an account with fewer conditions than most 'bonus rate' offerings. This reflects how common it's become for consumers to keep their everyday spending money and savings with the same provider.

Credit cards are also assessed across low cost cards (low rate and low fee) and rewards cards, weighted across a range of annual spend levels. This matters because the 'best' card for a particular person depends heavily on how much they spend on it each year. A card that's found to be excellent for $24,000 of annual spending may not be ideal for spending $60,000, or even $120,000, a year. Rewards and frequent flyer cards are not included in our assessment for the customer-owned Everyday Banking Award, since these products are far less common among mutuals and credit unions.

When rating banks, the Everyday Banking Award also incorporates consumer survey data tracking how satisfied actual customers are with their bank. This provides a real-world check on whether a bank's service and experience match its on-paper performance. Customer satisfaction isn't factored when rating customer-owned banks, as mutuals and credit unions often don't reach the survey sample size needed for a reliable result.

Full-service banking suites
Institutions are assessed on their best-performing products in each category, drawn from a combination of deposit accounts and credit cards that have been available in the market for at least six months. This ensures we're assessing institutions with a proven track record of serving Australian consumers. Where institutions have merged or rebranded, they're assessed as a single entity, with duplicated products across brands within a group being consolidated into one for assessment purposes.

• Fees can outweigh a competitive rate. Account-keeping, ATM, and international transaction fees add up quickly on a transaction account you use daily, easily cancelling out the benefit of a slightly higher savings account interest rate.
• Check what you actually need from a transaction account. If you rarely use in-branch services or cash, a digital-first provider may suit you. If you do, branch and ATM access may matter more than comprehensive digital features.
• Match the credit card to your habits. A rewards card can be worth it if you spend enough to properly benefit and clear the balance in full each month. If you sometimes carry a balance, a low rate or low fee card may be a better fit, since interest charges tend to outweigh rewards value.
• Look past the introductory offer. Introductory purchase rates, limited-time fee waivers, and bonus point offers all revert eventually. Work out what the card or account will cost you in its second year and over the long run.