Which bank account is best for everyday transactions?

Bank accounts are all designed for day-to-day spending and transactions. The best one will have no fees, easy ways to access your account balance and extra features that you need.

Can I earn interest with a bank account?

Banks accounts typically don't pay any interest, as the account is designed for spending not saving. If you want to earn interest on your money you'll need to open a savings account instead.

Are bank accounts secure?

Yes, bank accounts are one of the safest places for your cash. Your deposit up to $250,000 with an Australian bank is guaranteed under the government bank guarantee scheme.

Which account is best for a joint account?

A lot of bank accounts can be opened as joint accounts with another person. When picking one, consider what you'll be using the account for and what features you need. For example, would spend tracking tools in the mobile app be handy for you? Or perhaps you're more interested in avoiding fees when travelling?

What's the best account for overseas travel?

If you travel a lot, a bank account with no international transaction fees would be ideal. These fees can be as high as 3.5% of the total transaction value per transaction, each time you make a purchase with your debit card in another currency. Avoiding these fees can save you lots of money.

Home Authors Alison Banney

Alison Banney

Editorial Manager, Money

With over 10 years of experience writing about personal finance, Alison has written extensively for a range of financial institutions and publications including Westpac, Money Magazine, Financy, Australian Retirement Trust, Raiz Investments, and Yahoo Finance. Alison is frequently quoted in the media on topics related to superannuation and money management, including in SmartCompany, Financial Standard, Australian Broker News, Australian Business Journal, Super Review, 9Honey, SBS, Qudos Bank, and Inside Adviser. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle and has earned three ASIC RG146 certifications in superannuation, securities and managed investments, as well as general financial advice.

If you’re interested in a media interview with Alison, please reach out to our PR team at aupr@finder.com.

Expertise

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

Experience

Certificate in Financial Advice, which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Certificate in Securities and Managed Investments, which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Certificate in Superannuation, which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Panel member for Finder’s Inflation Masterclass
Panel member for Finder’s EOFY Money Masterclass
Annual Finder Innovation Awards judge for banking, investment and digital disruptor categories