Banking to suit your lifestyle: Which type are you?

HSBC Everyday Global Account

• 2022 Mozo Experts Choice Award^ winner
• 2% cashback on tap & pay purchases under $100 AUD (conditions apply)
• No monthly account fee

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HSBC’s Everyday Global Account won a 2022 Mozo Experts Choice Award^ in the Exceptional Everyday Account category. This account can also hold up to 10 currencies, so if you travel a lot, you can spend your money like a local wherever you go. The Everyday Global Account is also compatible with Apple Pay, Google Pay, and PayID. It also has no monthly account fees, no minimum deposit or minimum balance requirements.

Citi Global Currency Account

• Mozo Experts Choice Award 2022 winner^
• No overseas ATM or foreign exchange fees
• Up to 10 currencies in the account

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If you’re a frequent traveller, the Citi Global Currency Account could be worth considering. It recently scored a 2022 Mozo Experts Choice Award^ for exceptional bank account. Store up to 10 currencies on the account for ease of use when crossing borders or transacting in different currencies. The Citi Global Currency Account also has no monthly fees and no overseas ATM or transaction fees as long as you are withdrawing the same currency of the account.

Interested? Read the full Citi Global Currency product review

American Express - Qantas Discovery Card

• Purchase rate of 20.74% p.a.
• 3% foreign exchange margin
• No annual account fee

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American Express won the title of Best Credit Card Provider of the Year for the 2021 Mozo Experts Choice Award^. Its Qantas Discovery card also won Best Qantas Frequent Flyer Credit Card. What makes this credit card stand out is its lack of annual fees and is packed with lots of reward benefits. You can earn 0.75 Qantas Points for each $1 you spend on everyday purchases and 1 more bonus point for every $1 spent on selected Qantas products and services (T&C apply). The card has a high-interest rate of 20.74% p.a., but you do get the first 44 days interest-free.

NAB Qantas Rewards Signature Card

• Purchase rate of 19.99% p.a.
• Annual fee of $395
• 3% foreign exchange margin

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NAB’s Qantas Rewards Signature card has an interest rate of 19.99%. With this card, you can earn $1 to 1 point for the first $5,000 and $1 to 0.5 points for the next $20,000 each month. If you are a big spender you could potentially qualify for up to 15,000 points per month! You also get the first 44 days interest-free on your purchases. Other perks include free membership to the Qantas Frequent Flyer program, access to complementary travel insurance coverage and a concierge service. Keep in mind that the card does come with a hefty $395 annual fee, but for the first year of having the card you only pay $295.

MyState Bank - Bonus Saver Account

• 2022 Mozo Expert Choice Award^ winner
• Max interest rate of 1.10% p.a.
• No account fee

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MyState Bank’s Bonus Saver Account is great for savers who want to be rewarded for their saving habits, which is why it won in the Best Regular Saver category in the 2022 Mozo Expert Choice Awards^. This account offers a special rate of 1.10% p.a. for balances up to $250,000 which you could get by depositing at least $20 every month and having at least 5 debit transactions. If you don’t meet the requirements you run the risk of receiving a lower interest rate of 0.05% p.a. for that month. The account also comes with no annual or service fees, so every dollar you stash away is yours to keep. Keep in mind that to have access to the Bonus Saver Account you will need to link it to a MyState Bank transaction account.

Virgin Money - Boost Saver with Go Account

• 2022 Mozo Expert Choice Award^ winner
• Max interest rate of 1.00% p.a.
• No account fee

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This 2022 Mozo Expert Choice Award winner took the title of best savings accounts in the Regular Saver and the Best New Savings Account categories. The Virgin Money Boost Saver with Go Account offers a special interest rate of 1.00% p.a. for balances up to $250,000 and those who meet the correct conditions in their age category–which you can find on their website. If you don’t, there is a chance you’ll get a lower rate of 0.05% p.a. The account also comes with Virgin Money Points (not to be confused with Virgin Velocity Points) which you could redeem for cashback into your savings account or for gift cards (T&C apply). You also will need to have a Virgin Money everyday account to access the saving account benefits. There are also no account fees which is always a big win.

Bank Australia - Everyday Access

• $5.00 account fee (waived when you deposit $2,000 a month)
• Compatible with Apple Pay, Google Pay and Samsung Pay available
• $3.50 fee for overseas ATM withdrawals

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Bank Australia’s Everyday Access account might be a good option if you’re looking for a green bank. Bank Australia doesn’t invest in fossil fuels, live animal export, the arms industry, gambling or tobacco. In 2020 it received B Corp certification for its environmental impact and the bank runs on 100% renewable electricity. Its Everyday Access account comes with a monthly $5 account fee but it is waived if you’re under 25 or deposit $2,000 a month. The account is compatible with Apple Pay, Google Pay and Samsung Pay.

MyState Bank - Glide Account

• No account fee
• Compatible with Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, and Garmin
• No ATM fees for overseas withdrawals

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MyState Bank’s Glide Account comes with no monthly account fee and is compatible with Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, and Garmin. The Tasmania based bank also doesn’t invest in any coal, gas or oil project, making a good account if you’re looking to make your banking green and fossil fuel free. The company claims that the majority of the company cars and branches are eco-friendly which is always a major plus for the environment!

Westpac - Life (18-29-year-old)

• 2022 Mozo Experts Choice Award^ - Young Adult Savings
• 2.00% maximum rate
• No minimum balance

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This savings account has a special interest rate of 2.00% p.a. for balances up to $30,000—one of the most generous interest rates in Mozo’s database—if you make at least one deposit, grow your balance, and make at least five purchases each month. If you don’t meet the monthly conditions you’ll receive a lower interest rate for that month. You must be between the ages of 18-29 to apply for this savings account. It also was the sole winner in the Young Adult Savings category at the 2022 Mozo Experts Choice Awards^. Keep in mind that you’ll also need a Westpac everyday account to reap the benefits of this savings account.

Commonwealth Bank - Student Smart Access

• No monthly account fee
• No minimum balance
• Compatible with Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, and Garmin

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CommBank’s Student Smart Access has no monthly account fees and offers unlimited free transactions. There is also no account balance minimum which is great for that student lifestyle. It’s compatible with Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, and Garmin which is always a plus if you prefer paying with your smart devices. This account is also international student-friendly, you can open an account whilst still overseas if you arrive in Australia within 3 months.

Great Southern Bank - Everyday Edge Account

• Rebates on overseas ATM fees and foreign exchange fees (conditions apply)
• Apple Pay, Google Pay and Samsung Pay
• No monthly account keeping fee

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Great Southern Bank’s Everyday Edge Account is compatible with Apple Pay, Google Pay and Samsung Pay and has no monthly fees. This account comes with a built-in ‘The Boost’ feature which gives you the option to automatically round up purchases and deposit the difference into your savings account. This could be great if you’re not an active saver but still want to build a savings account. It also has no minimum balance requirements but it does come with a $1 minimum opening deposit.

ING Orange Everyday

• Round-up savings feature
• No account monthly fees
• 1% cashback on eligible utility bill payments (T&Cs apply)

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If you’re after a bank account that does the saving for you, consider the multi Mozo Expert Choice Award^ (2018-2022) winning ING Orange Everyday account. It comes with a round-up savings feature which rounds up purchases to the nearest $1 or $5 and automatically puts the extra amount into your linked ING savings account. There is also an opportunity to get 1% cashback (up to $100 annually) on eligible utility bills when you deposit at least $1,000 from an external bank account and make at least 5 card purchases using your ING debit card each month. 

Read the full editorial review of the ING Orange Everyday