Australia’s best bank accounts in 2025

The best-value bank accounts in December 2025

Transaction accounts are bank accounts you use for your day-to-day spending and banking needs. They come with a debit card that you can use to make in-person and online purchases. But not all accounts offer the same value. Some might charge monthly fees, while others may offer incentives like fee-free banking, cashback on purchases, or international fee waivers.

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. As of 4 December 2025, we have given a 5-Star Rating to 11 transaction accounts on Canstar’s database. Of these 11, four let you earn interest on your balance, and none charge a monthly account-keeping fee.

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. Read the full terms and conditions for each account on its respective bank’s website.
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Source: www.canstar.com.au – 04/12/2025. 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.

ANZ — Premium Cash Management Account

The ANZ Premium Cash Management Account offers competitive tiered interest rates starting from a $10,000 balance. With no monthly account service fee and unlimited internet banking transactions, it’s designed for flexible money management. You also receive five fee-free ANZ transactions each month; additional transactions may incur fees.

Australian Military Bank— Military Rewards Account

The 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.

Bankwest — Easy Transaction Account

The Easy Transaction Account charges no account fee and no international transaction fees. There are no overseas ATM access fees charged by Bankwest, however, fees may be charged by the ATM provider or merchant when using a non-bank or international ATM.

Great Southern Bank — Everyday Edge

The 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.

HSBC — Everyday Global Account

The 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).

ING — Orange Everyday

The Orange Everyday account offers 1% cashback on eligible utility bills (up to $100 cashback in a financial year). There is no overseas ATM withdrawal fee or international transaction fees. However, fees may still be charged by the ATM provider or merchant when using a non-bank or international ATM.

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 2.00% p.a. at the time of writing.

ME — SpendMe Transaction Account

The SpendMe Transaction Account charges no monthly account keeping fee, no international transaction fee, no foreign currency conversion fees and no international ATM fees for balance enquiry and withdrawal. However, the ATM owner may charge a fee. Within Australia, you can withdraw cash or check your balance at BOQ ATMs for free; other ATM owners may charge a fee.

Suncorp Bank — Everyday Essentials and Everyday Options Accounts

The 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.

The 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.

Everyday Essentials and 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.

Up — Up Everyday

Up’s Everyday Account has no monthly service fees and no international transaction fees on overseas purchases. Domestic and international ATM withdrawals and enquiries are also free at most major bank ATMs.

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 bank’s website. If you need more details, you can contact the bank directly.

Compare Transaction Accounts

How to find the best bank account for you

The best bank account for you will depend on your banking needs and what you’re 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. 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 bank 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 bank, it’s worth checking the interest rate and any bonus conditions and fees that apply, as well as any useful features the account offers.

Compare Savings Account

After a savings account or term deposit? View Canstar’s Savings Accounts and Term Deposit Awards, as well as compare your savings account and term deposit options using Canstar’s comparison tables.