Australia's biggest bank finally offers Apple Pay

Australia's biggest bank finally offers Apple Pay

Today’s announcement that the Commonwealth Bank is joining the Apple Pay platform is a win for customers who had grown weary of the banks’ limited payment technologies.

Apple Pay launched in Australia in November 2015 and has, to date, largely been ignored by the big banks, with the exception of ANZ.

CBA’s decision, which also includes subsidiary BankWest, will see millions more Australians access the Apple pay platform via Australia’s biggest bank from January 2019.

More than 65 banks and card providers offer Apple Pay in Australia but there are notable exceptions in the ranks, including Westpac, NAB, St George, AMP, Bank of Melbourne and Bank of Queensland.

RateCity research director Sally Tindall said the absence of Apple Pay had been a bug bear of CBA customers for years.

“CBA has removed a thorn in the side of its customers today.

“The bank has finally closed the gaping hole in their payment platforms, and caught up with their main competitor in this space, ANZ.

“Interestingly, some of the smaller banks and card issuers are also competing fiercely in this field, offering up the three main platforms to their customers: Apple Pay, Google Pay and Samsung Pay.

“By not providing Apple Pay technology, CBA was jeopardising some of the bank’s existing customers, and potential new ones.

“Hopefully this move will force Westpac and NAB to adopt Apple Pay as well and improve the options for all customers looking to ditch their wallets,” she said. 

Popular providers and what they offer

For a full list of providers, click here.

Company

Apple pay

Google pay

Samsung pay

American Express

Yes

Yes

Yes

AMP Bank

No

Yes

Yes

ANZ

Yes

Yes

Yes

Bank of Melbourne

No

Yes

No

Bendigo Bank

Yes

Yes

Yes

Bank of Queensland

No

No

Yes

BankWest

Yes*

Yes

Yes

CBA

Yes*

Yes

Yes

Citi

Yes

No

Yes

Coles

No

No

No

Heritage Bank

No

Yes

Yes

HSBC

Yes

Yes

No

ING

Yes

Yes

No

Macquarie Bank

Yes

Yes

No

ME Bank

No

No

No

NAB

No

Yes

Yes

St. George

No

Yes

No

Suncorp

Yes

Yes

Yes

Teachers Mutual Bank

Yes

Yes

Yes

Virgin Money

No

No

Yes

Westpac

No

Yes

Yes

*Available from January 2019

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Fact Checked -

This article was reviewed by Research Director Sally Tindall before it was published as part of RateCity's Fact Check process.

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Learn more about bank accounts

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Yes. Some payday lenders are willing to transfer loans to prepaid debit cards instead of bank accounts.

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Yes, you can find your bank account number by logging into your online banking and clicking on the relevant account.

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A common question for new parents is, ‘Can I open a bank account for my child?’

The short answer is yes – as a parent you can open a bank account for your child.

Once you’ve compared your options and found a bank account that suits your needs, the process is relatively simple.

As the bank account is for your child, you’ll need to provide some documentation such as proof of ID, including your tax file number.

You will also need a copy of your child’s birth certificate, and in some cases you may also need to sign a guarantee of indemnity.

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Yes, most lenders that operate in Australia will let you set up a bank account online. The process is usually simple and takes five to 10 minutes. You will probably need to provide a passport or birth certificate, as well as a driver’s licence, Medicare card or another form of secondary identification. Requirements differ from lender to lender, so some institutions might ask for more or different forms of ID.

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Yes, Australian bank accounts are frozen when someone dies. If you want to close the account of somebody who has died, you might have to provide proof of death and a copy of the will. You might also have to prove your relationship to the deceased person.

If you have a joint bank account with somebody who has died, you will generally be entitled to all the money in the account. Again, you might have to provide proof of death if you want to change the bank account from a joint account to a one-person account.

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Once you’ve found a bank account that suits your needs, you can start the application process.

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A debt collector can garnish your bank account, but only with a court order. This drastic action is usually taken only if you’ve ignored several notices asking you to pay the debt.

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