Australia’s best bank accounts in 2025

Everyday transaction accounts are bank accounts you use for your day-to-day spending and banking needs. They come with a debit card that you use to make in-person and online purchases.

There are dozens of transaction accounts to choose from. To help you decide, Canstar’s researchers have assessed and rated transactions accounts on our database. These transaction accounts are rated daily and the top accounts with a 5-Star Rating are awarded based on their price and features.

Expert picks: 5-Star Rated bank accounts for high transactors

Canstar’s expert researchers gave the following transaction accounts a 5-Star Rating in our latest Star Ratings (listed alphabetically by provider name). The results are based on a customer who wants full access to their account (including ATM, EFTPOS, bill payments and in-store purchasing) and makes an average of 100 transactions per month.
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Provider	Account	Ability to earn interest?	Monthly account fee*	Debit card type
Australian Military Bank	Military Rewards Account	Yes	$0	Visa
Bank of Melbourne	Complete Freedom	No	$0	Visa
BankSA	Complete Freedom	No	$0	Visa
Bankwest	Easy Transaction Account	No	$0	Mastercard
Great Southern Bank	Everyday Edge	No	$0	Visa
HSBC	Everyday Global Account	No	$0	Visa
	Orange Everyday	No	$0	Visa
Macquarie Bank	Transaction Account	Yes	$0	Mastercard
St.George Bank	Complete Freedom	No	$0	Visa
**	Carbon Insights Account	Yes	$0	Visa
	Everyday Essentials Account	No	$0	Visa
	Everyday Options Account	Yes	$0	Visa
Westpac	Choice	No	$5	Mastercard

Source: www.canstar.com.au – 01/06/2025. Based on accounts rated in Canstar’s Savings & Transaction Accounts Star Ratings, in the High Transactor profile. Table sorted in ascending order by provider name, followed by account name. *Monthly account fees are often waived if you meet certain criteria, check with the provider for more information. **Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.

Australian Military Bank— Military Rewards Account

Australian Military Bank’s Military Rewards Account offers 1% cashback on Visa PayWave purchases under $100, when you have deposited $2,000 each month. The cashback is capped at $25 per month. The account also earns you interest on your account balance, 0.01% p.a. at the time of writing. It also charges no monthly service fees, transaction fees within Australia or ATM fees for Australian Military Bank ATMs. Read the full T&Cs on Australian Military Bank’s website.

Bank of Melbourne, BankSA & St.George Bank — Complete Freedom Account

As all are subsidiaries of Westpac; Bank of Melbourne, BankSA and St.George Bank are all offering the same features when it comes to the Complete Freedom Account. These accounts don’t charge international transfer or monthly account-keeping fees and grant you access to My Offers Hub and ShopBack—where you can access discounts on popular lifestyle brands.

The account is also offering new customers (those who have not held a transaction account with the specific financial institution within the last two years) up to $40 cashback if they spend at least $160 on their new digital Visa debit card within 60 days at either Woolworths or Coles. This offer expires 30 September 2025. Read the full T&Cs on the Bank of Melbourne, BankSA & St.George Bank websites.

Bankwest — Easy Transaction Account

Bankwest’s Easy Transaction Account charges no account fee and no international transaction fees. There are also no overseas ATM access fees (but fees may apply when using a non-bank ATM). Read the full T&Cs on Bankwest’s website.

Great Southern Bank — Everyday Edge

Great Southern Bank’s Everyday Edge Account charges no account fee and offers rebates on international transaction and ATM fees when certain criteria is met. Rebates apply when you deposit at least $2,000 a month from non-Great Southern Bank accounts and make at least five card purchases. Fees may apply when using a non-bank ATM. Read the full T&Cs on Great Southern Bank’s website.

HSBC — Everyday Global Account

HSBC’s Everyday Global Account is designed for use both in Australia and overseas. It’s a multi-currency account that lets you hold up to 10 foreign currencies. It charges no monthly fee, transaction fees or ATM fees for HSBC-branded ATMs (except in select countries). It also offers 2% cashback on eligible tap and pay transactions under $100 (up to $50 cashback in a calendar month), when you deposit at least $2,000 per month. Read the full T&Cs on HSBC’s website.

ING — Orange Everyday

The ING Orange Everyday bank account offers features such as 1% cashback on eligible utility bills (up to $100 cashback a year) when certain monthly eligibility criteria are met. It also charges no monthly fee, as well as offering unlimited rebates on international transaction fees and up to five rebated ATM withdrawal fees a month when you meet certain conditions (deposit $1,000 a month and make at least five card purchases with your ING debit or credit card). Read the full T&Cs on ING’s website.

Macquarie Bank — Transaction Account

The Macquarie Bank Transaction Account charges no monthly fee, transaction fees or international purchase fees and also offers refunds for ATM fees charged in Australia. The account also earns you a variable interest rate on your account balance, currently 2.25% p.a. at the time of writing. Read the full T&Cs on Macquarie Bank’s website.

Suncorp Bank — Carbon Insights, Everyday Essentials and Everyday Options Accounts

Suncorp Bank’s Carbon Insights Account is designed to allow you to view an estimate of your carbon emissions based on your purchases. The account allows you to earn a variable interest rate (0.01% p.a. at the time of writing) and charges no monthly fees, overdraft fees or foreign currency conversion fees for online and overseas purchases. It allows unlimited fee-free transfers, cash withdrawals and balance enquiries at Suncorp Bank and atmx ATMs in Australia. You can also open up to nine sub-accounts to help save and accrue interest separate to the main account. Read the full T&Cs on Suncorp Bank’s website.

Suncorp Bank’s Everyday Essentials Account is designed for concession and health care card holders and those receiving government benefits. It charges no monthly fee and no foreign currency conversion fees on Visa debit card purchases. Suncorp also says it prevents most transactions from overdrawing your account. Read the full T&Cs on Suncorp Bank’s website.

Suncorp Bank’s Everyday Options Account charges no monthly fee and no foreign currency conversion fees on Visa debit card purchases made online or overseas. The account also allows you to earn a variable interest rate (0.01% p.a. at the time of writing) and open up to nine sub-accounts to save and accrue interest separate to your main account. Read the full T&Cs on Suncorp Bank’s website.

Carbon Insights, Everyday Essentials and the Everyday Options account-holders also have access to Suncorp Bank’s Feel Good Rewards program, which allows you to earn cashback on eligible purchases with your Visa debit card. Visit Suncorp Bank’s website for details.

Westpac — Choice

Westpac’s Choice Account has a $5 monthly account fee, but this is waived automatically for the first 12 months. This waiver continues if you deposit at least $2,000 each month, are under the age of 30 or are a full-time tertiary student, link your account to a Rocket Repay Home Loan or Investment Loan as an offset account or are a Westpac Choice Concession account holder. The account charges no fees on foreign currency transfers or withdrawals at branded and select non-branded ATMs. The account also allows you to access Westpac’s Rewards and Offers program, which offers discounts, cashbacks and other deals for account holders.

Account holders aged 16 to 25 who open a new Westpac Choice everyday account may also be able to get a 30% refund (up to $75 cashback) on car related expenses like registration, driver’s licence fees and more. Purchases must be made using the linked debit card and T&Cs apply. Offer ends 18 July 2025. Read the full T&Cs on Westpac’s website.

Further terms and conditions may apply for each account so it’s wise to read any relevant documentation, such as the Product Disclosure Statement (PDS) or Target Market Determination (TMD), on the provider’s website. If you need more details, you can contact the provider directly.

Compare Transaction Accounts

After a savings account or term deposit? View the most recent Savings Accounts Awards and Term Deposit Awards. The Term Deposit Awards page was published in June 2024, but its comparison table is updated daily.

How to find the best bank account for you

The best bank account for you will depend on your banking needs and what you are looking for. Here are some features to consider when comparing everyday transaction accounts:

Monthly fees

Monthly fees, also called account-keeping fees, can add up over time. So it can be a good idea to look for a bank account with no monthly fees, or one where you can get the fees waived. If there are monthly fees charged, check whether the features on offer justify the cost.

Other fees

Other fees can apply depending on how you use your account. Common examples include currency conversion, ATM and EFTPOS transaction fees. It’s worth checking how much these fees are and considering whether you’re likely to encounter them.

Easy to use

Also consider how easy it is to make transactions and manage your account. Check if the provider supports the payment options you want to use, such as:

• Apple Pay
  

• Google Pay
  

• Samsung Pay
  

• BPAY
  

• PayID
  

• Osko
  

Also check what tools are available in your bank’s internet and mobile banking, such as budgeting tools or security features. If you’re looking for more budgeting tips and tricks, you can download the Canstar App and keep up to date with all our latest articles and offers. The free to use app also allows you to track your credit score and compare products available on the Canstar database.

Linked savings accounts

If you’re planning to open a linked savings account with the same provider, it’s worth checking factors such as the interest rate, any bonus conditions, fees and any useful features on offer.

Compare Savings Account

Bank account FAQs

What is the difference between a bank account and a savings account?

A savings account is just another type of bank account, along with transaction accounts and term deposits. Savings accounts are designed to help you save money. They may be linked to your everyday transaction account and you will usually earn interest on money you deposit into your savings account. Unlike transaction accounts, savings accounts don’t come with a debit card and they’re not designed to be used for your day-to-day spending.

Do I get a debit card when I open a bank account?

Yes, you’ll usually get a debit card sent to you in the mail after you open a transaction account. Some providers also let you use a digital debit card immediately after opening the account, by adding the card to Apple Pay, Google Pay or Samsung Pay.

Can I earn interest with a bank account?

There are some transaction accounts that allow you to earn interest, but most transaction accounts don’t. If you want to earn interest on your money, you could consider opening a high-interest savings account or term deposit instead. If you’re in the market to save and earn interest, you can compare savings accounts and term deposits using Canstar’s comparison tables.

Cover image source: Dragana Gordic/Shutterstock.com