The best transaction account is the account that suits your own way of managing money and spending. The best everyday banking account has low or no fees, lots of great ways to pay for goods and service in-store and online, like Apple Pay, Google Pay, Samsung Pay plus Eftpos, and a Mastercard or Visa debit card included. The best transaction accounts in Australia also feature BPay and easy to use internet banking portals and mobile banking apps with plenty of features and functions. Many Australians still use the same bank account they opened as a child, perhaps through a school banking program. The most popular everyday transaction bank account in Australia is Commonwealth Bank’s Smart Access account. This account and app now comes with additional features for using the Buy Now Pay Later app Klarna. You can read more about Commonwealth Bank’s Smart Access account featuring the new upgraded Commbank app at InfoChoice. There is no need to pay fees for an everyday bank account and accept an account that does not meet your needs. At InfoChoice, we have done the hard work for you and found some of the most competitive bank accounts in Australia. NAB’s Classic Banking account has no monthly fees, no ATM fees, no transaction fees. This account comes with a Eftpos/Visa Debit card with Tap and pay. NAB offers no ATM operator fee at over 7,000 ATMs in Australia. NAB Classic Banking also features NAB Pay for Android, recent improvements to the NAB Mobile Banking app and protection against fraud with NAB Defence. Go directly to NAB Classic Banking account rates and fees information at InfoChoice. See NAB bank account rates and fees information at InfoChoice. Compare NAB Classic Banking account with other transaction bank accounts in Australia at InfoChoice. The ANZ Bank Access Advantage bank account has Apple Pay, no monthly fee if you deposit at least $2,000, or if you have a pension card (normally $5 a month). This account comes with an Eftpos/Visa Debit card with tap and pay. Go directly to ANZ Bank Access Advantage account rates and fees information at InfoChoice. See ANZ bank account rates and fees information at InfoChoice. Compare ANZ Bank Access Advantage account with other transaction bank accounts in Australia at InfoChoice. UBank’s Ultra account is a transaction account that is linked to your UBank USaver account. This account comes with an Eftpos/Visa debit card with PayWave and fraud protection from NAB. There are no monthly fees. Receive a Savings Bonus of 1.06% pa on top of the base rate (currently 1.04% pa) on the balance in your linked USaver account when you deposit $200 or more per month into the Ultra account (Ts and Cs apply). Go directly to UBank Ultra account rates and fees information at InfoChoice. See UBank account rates and fees information at InfoChoice. Compare UBank Ultra account with other transaction bank accounts in Australia at InfoChoice. your transaction or nominated USaver account. The Savings Bonus is applicable on balances up to $200K. *Bonus Rate eligibility criteria apply. Unless stated otherwise, bonus rates are variable and subject to change. Can I get a debit card with Qantas Frequent Flyer points? The Bankwest Qantas Transaction Account gives you Qantas Frequent Flyer points for your balance in the account. Plus you earn 5 QFF points for each eligible purchase made. There are no monthly fees when you deposit at least $2,000 per month. This account comes with an Eftpos/Mastercard debit card with Tap and Pay. Go directly to Bankwest Qantas transaction account rates and fees information at InfoChoice. See Bankwest bank account rates and fees information at InfoChoice. Compare Bankwest Qantas transaction account with other transaction bank accounts in Australia at InfoChoice. There may be other transaction bank accounts that are better than these accounts at meeting your own needs. Compare transaction bank accounts from Australia’s banks, neobanks and credit unions at InfoChoice. The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible. The information contained on this web site is general in nature and does not take into account your personal situation. Do not interpret the listing order as an endorsement or recommendation from us. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.