Neo Bank 86 400 is purpose built for the technological age. The name refers to the number of seconds in each day – promising to keep their customers in control of their money for each one of those seconds.

Like other neobanks or digital banks, 86 400 uses technology to provide insights into your spending and saving habits. This can include things like bill detection and reminders of regular upcoming payments, based on your transaction history.


Neat home loan - max. 60% LVR (Principal and interest)

Rate 2.19
Rate 2.20

Neat home loan max. 60% LVR (Investment, Interest only)

Rate 2.84
Rate 2.60

Neat home loan max. 70% LVR (Investment, Interest only)

Rate 2.84
Rate 2.66

Neat home loan max. 70% LVR (Principal and interest)

Rate 2.29
Rate 2.30

Neat home loan max. 80% LVR (Investment, Interest only)

Rate 2.94
Rate 2.76

Neat home loan max. 80% LVR (Principal and interest)

Rate 2.34
Rate 2.35

Pay Account

Max Interest rate($10,000) Base Interest rate($10,000)

Save Account

Max Interest rate($10,000) Base Interest rate($10,000) 0.10

Is 86 400 a bank?

In July 2019, the bank received its full Australian Deposit Taking Institution licence (also known as ADI) from the banking regulator. It is classified as a digital smart bank, this means that is operates solely through it’s mobile app. There is no desktop online banking and no branches to visit.

You can view the products offered by 86 400 in the table below.

Is my money safe with 86 400?

86 400 was the first neo bank to be guaranteed under the Financial Claims Scheme. That means deposits up to $250,000 are guaranteed by the Australian Government. They are also backed by independent payment company Cuscal.

What transaction accounts do 86 400 Bank offer?

This bank keeps it simple. They offer a single 86 400 Pay Account which functions as an everyday account for your daily spending. There are no monthly fees, and upon signing up you can instantly add your card to Apple Pay or Google Pay. You can also make transactions when travelling overseas.

You account will come with a linked Visa, and there is an option to open a Shared Pay Account. Something nifty with 86 400 is the card colours. All pay accounts come with a aqua card, whilst shared accounts are purple – ensuring you never tap the wrong card at checkout. You can have a maximum of one individual and one shared Pay Account.

What savings accounts do 86 400 Bank offer?

Once your Pay Account is set up, you have the option to add in a Save Account within the app. Money can be transferred from your Pay Account to your savings to earn interest. Like the pay account, there’s also an option to have a Shared Save Account to hit those couple goals. You can have up to 3 Save Accounts.

Deposit at least $1,000 a month (to any Pay or Save accounts) to earn a competitive 1.20% p.a. The rate is variable with a base rate of 0.10% p.a. on balances up to $50,000 per account. Interested is calculated daily and paid monthly.

What home loans do 86 400 offer?

86 400 recently launched a home loan offer that won gold at the 2020 Australian Mortgage Awards. They pride themselves on a simple, digital process that speeds up the application process. Rates start from 2.15% for a 2 year fixed loan (owner-occupied, principal and interest).

As part of their digital offering, 86 400 provides personalised insights to help customers pay off their loans sooner.

What personal loans do 86 400 offer?

86 400 do not currently offer any personal loan products.

How do I apply for an account with 86 400 Bank?

Applying is simple and starts with downloading the 86 400 app from the App store of Google Play. The app also offers referral codes and small cash back incentives up to $10 for joining.

What are some of the features with 86 400 Bank?

  • Fast sign up – you can become a customer in mere minutes. You will need to download the app and verify your identity with two forms of ID.
  • Contactless payments – 86 400 integrates with Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay. It’s also integrated with PayID for instant payments.
  • No to low fees – the banking app is free and there are no monthly account fees. There are also no international transactions when making purchases overseas or online shopping from overseas merchants.
  • Smart bill planning – the app analyses your transaction history and alerts you to upcoming bills.
  • Offers insights – the app analyses your spending habits to give you an idea of how you’re spending and saving your money and insights into your general financial habits.

What are some of the drawbacks of banking with 86 400 Bank?

There are no branches available with 86 400 and the products on offer are somewhat minimalist. ATM fees will also apply – so this is something to be aware of.

Compare 86 400 savings rate with other savings accounts and other term deposits in Australia.