Compare Australian banks side-by-side to find the best account for your student needs. We've analyzed fees, features, and benefits to help you make an informed decision.
| Feature | CBA | ANZ | ING | Westpac | NAB | Teachers Mutual | Bendigo |
|---|---|---|---|---|---|---|---|
| Monthly Fee (Student) | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| ATM Network Size | 3,000+ | 800+ | All ATMs | 1,000+ | 900+ | 3,000+ | Regional |
| International Purchase Fees | 3% + $2.50 | 3% + $2.50 | $0 | 3% + $2.50 | 3% + $2.50 | 2.5% + $2 | 3% + $2.50 |
| Mobile App Rating | ★★★★★ | ★★★★★ | ★★★★★ | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ |
| Digital Features | Excellent | Excellent | Excellent | Good | Good | Good | Basic |
| Student Support | Excellent | Good | Limited | Excellent | Good | Excellent | Good |
| Physical Branches | Extensive | Good | None | Good | Good | Limited | Regional |
| Savings Interest Rate | Low | Low | High | Low | Low | High | Medium |
| Customer Service | Good | Excellent | Good | Good | Good | Excellent | Excellent |
All banks listed here are covered by the Australian Government's Financial Claims Scheme, which protects deposits up to $250,000 per account holder per bank. This means your money is safe regardless of which bank you choose.
If you're a digital native who rarely visits branches, ING or ANZ might be perfect. If you prefer face-to-face support, Commonwealth Bank or Westpac offer the most branches.
While no monthly fees are important, consider ATM access, international fees, savings rates, and customer service. A bank that saves you $3 in ATM fees monthly adds up to $36 annually.
Most banks offer special student accounts with better terms. You'll typically need to provide your student ID and may need to re-verify your status annually.
Consider which bank offers good graduate programs, business banking (if you're entrepreneurial), or home loans (for future property purchases).
You'll likely do 90% of your banking on your phone. Download the apps and test them before deciding. Look for features like spending tracking and instant notifications.
Switching banks is easier than ever in Australia. If your needs change or you find a better offer, you can always switch. Many banks will even help with the transition.
Always read the full terms and conditions before opening an account. Student benefits may expire after graduation, and fee structures can change. Keep your student ID handy for verification, and remember to update your details if you change address or phone number.
Once you've chosen your bank, gather your documents and apply online or visit a branch to get started.
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