SAVINGS ACCOUNTS

News, info and tips to help you save smarter

Branchless banking

There are several financial institutions that provide branchless banking. If your financial institution allows for branchless banking, it can mean two things:

  • You can do your banking without needing to go into a branch (over the phone or online)
  • Or the financial institution does not have any branches so you have no choice but to do your banking over the phone or online.

Financial institutions that do not have any branches save potentially millions of dollars each year in running costs, maintenance and staff and can compete harder for customers without these overheads. Branchless banking is the future of banking as more people avoid the queues and find more convenience online.

Read our detailed RateCity guides to get a better understanding of all your banking options and follow our news articles to get the latest finance tips. 

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology. We not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.