Best Banks in Australia in 2026

Australia’s banking system is stable, regulated, and widely trusted. But choosing the right bank isn’t about picking the biggest name—it’s about finding the right fit for your life. The best bank account for international students in Australia might need flexible digital tools. New residents may seek low-fee everyday accounts. And if you’re sending money from abroad, some banks handle international transfers more smoothly than others.

Exploring your options helps you understand which bank is right for you. Here’s what to know before opening an account and how to choose a bank that aligns with your goals.

Key takeaways

• Australia’s top banks offer choices from digital‑only banking to community‑focused regional branches and global networks.
• The “best” bank depends on your goals. Expats and international students may prefer Commonwealth Bank, Westpac, or HSBC for global access, while locals and small businesses often turn to BOQ or Bendigo & Adelaide Bank for personal service.
• Digital-first options like ING and Macquarie stand out for low fees, automation, and easy online access, making them ideal for tech‑savvy users who don’t need branches.
• Major banks such as NAB, ANZ, and CommBank combine national branch coverage with strong apps, allowing customers to manage everything from home loans to everyday banking in one place.
• While traditional banks cover basic transfers, Western Union may offer faster, flexible global payments. Send money to Australia for cash pickup at a Western Union location.

Comparing the best banks in Australia

 

Top banks in Australia

What are the best banks in Australia? It depends on what matters most to you—whether that’s no-fees, digital-first banking, regional presence, or access to global services.

In the list below, we break down the top banks across Australia, highlighting their standout features, key products, and who they’re best suited for.

1. ANZ

Australia and New Zealand Banking Group (ANZ) could be considered one of Australia’s top banks. It offers a full suite of personal banking services, including transaction and savings accounts, credit cards, home and personal loans, and investment products. Digital-first accounts like ANZ Plus are designed to support both spending and savings with no monthly fees.

Strengths:

• Strong digital tools like the ANZ Plus app
• Range of account types to match different needs, including everyday, savings, and term deposits
• Support for new customers, including those moving to Australia

Ideal for:

• International students or new residents
• People wanting a full‑service bank with broad product range

2. Bank of Queensland (BOQ)

Bank of Queensland is a well-known regional bank, with roots dating back to 1874. Headquartered in Brisbane, it blends traditional service with modern banking tools, offering personal and small business customers a practical alternative to big banks. It provides everyday accounts, savings, loans, credit cards, and digital banking options.

Strengths:

• Regional presence with focused customer service in Queensland and growth in other states
• Diverse product set for personal banking and small business customers (loans, deposits, credit cards
• Internet banking and BOQ mobile app for convenience

Ideal for:

• Residents in Queensland or nearby regions
• Small business owners

3. Bendigo & Adelaide Bank

Bendigo and Adelaide Bank is one of Australia’s largest regional banks, serving around 2.4 million customers through a range of retail and business brands. These include Bendigo Bank, Adelaide Bank, Rural Bank, Up, and Alliance Bank. With roots going back more than 160 years, the group focuses heavily on community banking and regional accessibility.

Strengths:

• Community Bank model that returns portion of profits to local communities
• Range of products, including everyday accounts, home loans, business banking, agribusiness solutions
• Strong regional footprint with a presence in rural and remote areas

Ideal for:

• Customers in regional or rural Australia
• Community‑oriented accounts and local relationships

4. Commonwealth Bank (CommBank)

Commonwealth Bank (CommBank) is Australia’s largest retail bank, offering a full suite of banking and financial services across personal, business, and institutional segments. Customers can open accounts, get credit cards, apply for loans, invest, and manage insurance all through one platform. CommBank is a top choice for people moving to Australia, offering tailored account packages and support for newcomers.

CommBank’s digital tools are award-winning. Its mobile app and online NetBank platform are consistently recognized for ease of use, real-time insights, and spending control features. It also offers 24/7 customer support, both in-app and via phone.

Strengths:

• End-to-end banking with everyday accounts, savings, home loans, credit, wealth management, and insurance
• Specialized support for migrants, students, and people relocating to Australia
• Highly rated digital platforms including the CommBank app and NetBank
• Wide branch and ATM network, plus 24/7 digital customer support

Ideal for:

• Expats and international students relocating to Australia
• Customers seeking an all-in-one banking provider

5. HSBC Australia

HSBC Bank Australia is the Australian arm of global banking giant HSBC Holdings. It operates through a network of around 36 branches and offices across the country. The bank offers a broad range of services, including everyday and global accounts, credit cards, home loans, term deposits, private banking, and investments.

What sets HSBC Australia apart is its global banking infrastructure. As a “universal international bank” in Australia, it positions itself to support cross‑border banking needs, including international investments and moving abroad.

Strengths:

• Foreign currency accounts and global payments capabilities
• International transfers to more than 200 countries in 50+ different currencies
• Free overseas account opening support before moving or working abroad

Ideal for:

• Expats and international students requiring currency flexibility
• Customers managing money in multiple countries
• High net worth individuals needing private banking and wealth solutions

6. ING Bank Australia

ING Bank Australia, a subsidiary of the global ING Group, launched in 1999 as Australia’s first direct bank—no branches, just digital access. It’s now the fifth largest bank in Australia, and has a reputation for low fees, digital-first banking, and customer satisfaction.

ING offers a full suite of personal finance products including everyday banking, high-interest savings, personal and home loans, superannuation, insurance, and term deposits. It operates without physical branches, focusing instead on mobile tools, smart automation, and easy-to-understand products designed to simplify money management.

Strengths:

• Everyday checking account features no monthly fees, no ING international transaction fees, round up savings, and utility cash back options.
• Multiple savings account options with high variable rates
• 24/7 digital access to online banking or mobile banking with the ING app

Ideal for:

• Digital natives or customers comfortable without branches
• Savers targeting high yield through linked accounts
• Borrowers looking for digital-first home loans

7. Macquarie Bank

Macquarie Bank is part of Macquarie Group, a global financial firm with Australian roots, founded in Sydney more than 50 years ago. Today, Macquarie serves approximately 2 million Australian customers, offering digital-first personal banking alongside home loans, credit cards, savings accounts, and business banking. It’s known for sleek online experiences, fast application processes, and high-level support for customers who want smart, flexible financial tools.

Strengths:

• Everyday banking, savings, and home loans all managed through a streamlined digital platform
• Easy-to-use app with spending insights and budgeting tools
• Transparent fees and competitive interest rates

Ideal for:

• Customers who prefer app-based money management
• Borrowers looking for digital-first home loans
• Business owners who want access to both retail and commercial banking

8. National Australia Bank (NAB)

National Australia Bank (NAB) is one of Australia’s “Big Four” banks, serving over 8 million customers across personal, business, and institutional banking. It offers everyday accounts, savings, credit cards, home and personal loans, insurance products, and tools to help manage your finances.

NAB combines over 400 branches with strong digital services. Its internet banking and mobile app power transactions like paying bills and tracking spending to setting up overseas transfers. NAB also support new arrivals: you can open an account even before landing in Australia and set things up once you arrive.

Strengths:

• All-in-one banking with transaction and savings accounts, credit, loans, and insurance
• In-person support at more than 400 branches
• Solid digital banking experience with secure app and tools
• Services for newcomers and international students

Ideal for:

• Residents who want a bank with both branches and digital tools
• International students or expats looking for seamless banking setup during a move
• People looking for one bank to manage savings, credit, and loans

9. Westpac

Westpac is Australia’s oldest bank and one of the “Big Four,” serving nearly 13 million customers. It offers a full range of services including everyday accounts, savings, home and personal loans, credit cards, insurance, superannuation, as well as international and business banking.Westpac’s Choice transaction account and it’s Choice Youth account were both awarded Canstar’s Outstanding Value in 2024/2025.

Strengths:

• Student and new arrival bank accounts offer cash back opportunities, and no-fee options for first-year residents and full-time students
• Language support via interpreters and ATMs featuring 9 additional languages
• Budgeting tools and digital card options in the award-winning Westpac App

Ideal for:

• New arrivals looking start their account set up before moving
• Customers who want a bank with longstanding reputation
• People who’ll use both physical bank access and mobile/digital tools

How to choose the right bank in Australia

The best banking in Australia depends on what you need your bank to do. If you’re a local resident, everyday accounts and competitive home loans might be your focus. For international students or newcomers, language support, currency conversion tools, and mobile banking are likely higher priorities. Some banks offer welcome packages tailored to migrants or students, making setup smoother.

Look at how each bank handles everyday costs like account opening fees, monthly fees, and ATM fees. Consider how well their digital tools and customer service options fit your needs. Before opening an account, you can also compare the USD to AUD exchange rate to better understand your money’s value in Australia.

Send money abroad

Choosing the best bank in Australia for your needs sets a solid foundation for your money management. But when it’s time to send money across borders, speed and flexibility matter. That’s where Western Union comes in. Whether you’re supporting family or paying international expenses, you can send money now mobile app to transfer funds anytime, from virtually anywhere.