Bank accounts

A lot of people just set and forget their bank account, missing out on possible gains to be made. Life changes and the way you use your bank account will change over time.

Things to look at include:

• Is the way you use your account convenient?
• What fees are on the account?
• Could you avoid paying unnecessary fees with a different account?
• Do you need to change the way you bank?
• Is your money sitting idle and not earning interest?
• Can you earn interest and still have easy access?
• Do you have funds that you could place in a term deposit or other investment to gain better returns?  

If you would like more information about banks and bank accounts, go to the Federal Government’s website MoneySmart website.

You need an account that matches the way you save and one that will reward you along the way.  You should also consider what you’re saving for and how you want to use your money.
Things to consider:

• Do a budget – this will help you understand how much you can save each week. Try ANZ MoneyManager, our free online budgeting tool that updates and categorises your financial data daily. It also provides detailed reporting and alerts to help you get a clearer picture.
• Set your goals – you may have short, medium and long-term savings goals. Depending on your time frame you may also want to consider investing.
• Have some money at call – ideally you should have a rainy day fund, money to call on in an emergency. This doesn’t mean it can’t be earning interest, just as long as you can access it when you need it.
• Find the right account – does the account match the way you save? For example, if you can afford to make regular payments and no withdrawals you may be able to earn bonus interest.
• Is the interest rate competitive? – you should ensure you’re getting a competitive return.
• Check more than just the rate – is the account convenient for your needs and do you understand the fee structure?
• If you have a little money left over then it’s time to start saving. To see how much you could save, try out our Savings calculator.

At ANZ we're committed to making your banking easy and uncomplicated.

ANZ everyday accounts: our everyday accounts are designed to make your banking easier and more convenient. A number of our everyday accounts also come with Visa Debit¹ access, which allows you to use your own money online, overseas and over the phone, wherever Visa is accepted.

If you would like some online assistance with selecting an account, try our Help me select an account tool, which makes choosing the right account for your needs simple.

ANZ savings accounts: you may want to save for a goal, perhaps that first house or maybe an overseas holiday. We have savings accounts to suit the way you bank:

• ANZ Progress Saver pays bonus interest if you save regularly and don’t withdraw. It also provides branch access².
• ANZ Online Saver: if you’d rather bank online then this could be the savings account for you. It offers easy access to your savings, no minimum balance and no monthly account service fee³.

Banking when and where you want:

• ANZ Internet banking is safe and secure and allows you to manage your banking 24/7.
• ANZ goMoney^TM provides you with a great way to bank on your iPhone. Anytime. Anywhere⁴.

An A-Z Review^® with an ANZ Personal Banker: our Personal Bankers can help explore your current banking arrangements and recommend an everyday banking solution to suit your needs. They can help structure your accounts to help make sure you stay on track with your savings and make the most of your finances. Request an A-Z Review^®.