Important disclosure
Compare bank accounts offering Smart Pay
Find a bank account that is compatible with Smart Pay. Compare bank accounts via fees and features. Consider the pros and cons before you decide.

Everyday Global Account
Cashback
2% cashback (up to AUD 50/month) on eligible tap and pay.No overseas transaction or ATM fees and benefit from up 10 currencies in one account
$0
Monthly
$0
Over 13,000 ATMs customers can use in Australia with no ATM fees
Enjoy the perks of a credit card without the pesky fees with this bank account that charges zero international transaction fees and offers fee-free access to ATMs worldwide.
Product Everyday Global Account Real Time Rating™ Winner of Best Bank Account, RateCity Gold Awards 2022 | Account Keeping Fees $0 Monthly | ATM Fee $0 Over 13,000 ATMs customers can use in Australia with no ATM fees | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | Cashback 2% cashback (up to AUD 50/month) on eligible tap and pay.Winner of Best Bank Account, RateCity Gold Awards 2022 | Enjoy the perks of a credit card without the pesky fees with this bank account that charges zero international transaction fees and offers fee-free access to ATMs worldwide. | Highlighted | |
Product Global Currency Account Real Time Rating™ Winner of Best Bank Account, RateCity Gold Awards 2022 | Account Keeping Fees $0 Monthly | ATM Fee $0 Over 3,000 Westpac Group ATMs | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | Winner of Best Bank Account, RateCity Gold Awards 2022 | Global citizens and avid travellers can take advantage of an international bank account with account details for up to 10 currencies, and no ongoing fees. | ||
Product Glide Account Real Time Rating™ Winner of Best Bank Account, RateCity Gold Awards 2022 | Account Keeping Fees $0 Monthly | ATM Fee $0 Using a major bank ATM in Australia | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | special No monthly account keeping fees.Winner of Best Bank Account, RateCity Gold Awards 2022 | An everyday bank account that does not charge ongoing fees and supports all major payment platforms. | ||
Product Classic Banking Real Time Rating™ | Account Keeping Fees $0 Monthly | ATM Fee $0 Over 7,000 ATMs | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | special No monthly account fees ever. NAB Classic Banking account. T&Cs apply. | A classic bank account from one of Australia's biggest banks. Enjoy extensive ATM access and zero account keeping fees with this bank account. | ||
Product Virgin Money Go Account Real Time Rating™ | Account Keeping Fees $0 Monthly | ATM Fee | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | ||||
Product Orange Everyday Real Time Rating™ Winner of Best Bank Account, RateCity Gold Awards 2022 | Account Keeping Fees $0 Monthly | ATM Fee $0 Access at any ATM. Rebates on ATM withdrawal fees. | Company | Features Apple Pay Google Pay Interest rate Overseas ATM facilities Samsung Pay Linked account | Go to site | Cashback Receive 1% cashback on eligible bill payments, rebates on the first 5 fee incurring domestic and international ATM withdrawals and unlimited rebates on the ING international transaction fee.Winner of Best Bank Account, RateCity Gold Awards 2022 |
Learn more about bank accounts
Smart pay is the term given to the technology that lets you pay for transactions using your smartphone, Fitbit, Apple Watch or any other wearable.
Basically, smart pay is smart because it’s contactless, mobile and doesn’t require cards to work. It can be performed from a growing number of electronic devices, almost anywhere and at any time.
One of the outstanding features of smart pay is that doesn’t require you to log in to your bank account via your device to complete transactions.
Nor do you need to pull out a card from your wallet every time you want to buy something using EFTPOS or to pay a bill.
And being supported by your device’s latest security features means that your transactions – and thus your money – is better protected against fraud or theft.
Types of smart pay available include Apple Pay, Samsung Pay, Google Pay, Mobile Pay, Garmin Pay and Fitbit Pay. It’s a list that just keeps growing.
How does smart pay work?
Smart pay works in association with supported debit cards from participating banks, credit unions and other financial institutions, and can be used wherever contactless payments are accepted.
Using the relevant app for your device, you can add as many of your bank accounts as you want. When making purchases you simply choose which account you want to use for that transaction.
Your device can then be used for transactions at contactless terminals. As is the case with tap and pay using a card, some payments over $100 may require you to enter your card PIN at the terminal.
Smart pay creates a tidy banking workspace on your device, and solves the problem of having multiple banking apps, or carrying around different debit cards for different accounts.
Smart pay allows you to centralise your banking in one app, and lets you make quick contactless transactions on the go, which is why some people find it so convenient.
How do I use smart pay?
To use smart pay, all you need is a compatible device and an eligible card. Some devices have a preloaded app or one that can be acquired from either Google Play or Apple’s App Store.
Instructions on how to set up smart pay are available on most banking websites offering this method of payment. Otherwise, this information could be found via the maker of your device.
Whether or not you can use smart pay will depend on your device and its operating system. Your bank or your device will let you know when you attempt to set it up.
If you want smart pay with more than one device, such as your smartphone and Fitbit for example, you would need to individually add the app and bank account details to each device.
Latest news and articles
Nick Bendel
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covered property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
Frequently asked questions
Can a debt collector garnish my bank account?
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.
If this happens, there is nothing you can do to stop it other than immediately pay back your what you owe in full or make arrangements to pay it off in installments.
Once a garnishee order is issued, your bank will put a freeze on your account as it processes the order. This usually takes two to three days and you won’t be able to access any of your money during this time.
If you have Centrelink payments, they may be protected, depending on what the court order says.
Do I need to open a business bank account?
Just because you’re in business doesn’t necessarily mean you need a business bank account. You could be a sole trader not registered for GST, and use your personal bank account for business.
If you do want a business account, there are plenty of benefits attached to business transaction and savings accounts, as well as business term deposits.
There are business bank accounts designed for businesses with a high volume of transactions, and those for start-ups with a small amount of trade. You could also include an EFTPOS service with your account.
Some business bank accounts charge for the number of transactions per month, while others offer a pay-as-you-go fee structure, where you only pay fees for transactions you make.
It’s up to you whether your priority is mainly transactions, or earning the maximum amount of interest on your principal. There’s a business banking solution for you if you need one.
Can I link a bank account to Paypal?
Paypal is a safe and convenient way to pay online without the need to share your financial details. You can send and receive money or accept credit and debit cards as a seller using Paypal.
It’s easy to link your bank account to a Paypal account and start making transactions within minutes.
To start, you first need a Paypal account (it’s free to join). When setting up your Paypal account, you will be prompted to link a credit card or bank account (or both if you wish).
PayPal works without a balance; you can use Paypal to shop or send money when your balance is zero.
When your Paypal balance is zero, Paypal will ask you to choose your preferred payment method at the checkout.
This could be either your linked bank account or credit card. Your bank details can be updated if you change banks or credit cards.
Can you find your bank account number online?
If your bank offers online services, you should be able to find your bank account number online by logging into your account on your bank’s website and checking your details there.
Keep in mind that each type of account you have with a bank comes with a unique account number. This means if you have a bank account as well as a savings account, for example, your bank account number and your savings account number will be different.
If you don’t have access to your bank account online or can’t login, you should be able to find your account number on a mailed bank statement, if you have one.
Alternatively, you can call your bank’s customer service number or visit a branch to retrieve your account number.
How do you open a bank account in Australia?
Opening a bank account in Australia is usually a straightforward process. Some banks give you the option of opening an account online, while others require you to visit a branch.
Different bank accounts offer different features, so it’s best to compare your options to find one that suits you.
All banks require you to pass an identity check to open a bank account. Australia uses the 100-point identification system, which means you’ll need to show a number of forms of ID that, together, add up to 100 points.
Common ID types include a driver’s licence, passport, Australian visa in a foreign passport, and Australian Medicare card. You’ll find out what types of ID are accepted when you go through the sign-up process online or at a branch.
Once your account is open, you’ll be given or sent a debit card that you can use to make purchases and withdraw money from your account.
How do you transfer money from PayPal to a bank account?
Transferring money from PayPal to an Australian bank account is simple. Just follow these three steps:
- Go to your Wallet
- Click ‘Transfer Money’
- Follow the instructions
The money will take three to seven business days to reach your bank account.
Once you’ve made the transfer request, it can’t be withdrawn.
How do you set up a bank account online?
Once you’ve compared bank accounts and found the right one, the process of opening a bank account online is quite simple and can be done in around 10 minutes.
To set up a bank account online, you’ll need to prove your identity and provide an approved form of ID as well as your tax file number (TFN).
If you’re a new customer of the bank, you’ll need to verify your identity and potentially upload documents before you can complete your online application.
Once your ID has been verified and you’ve set up your bank account online, you should receive your bank cards in the mail along with your PIN and any other account details.
How do I open a new bank account?
There are a number of ways to open a new bank account – online, over the phone or in the branch. The trick is to decide what type of bank account you want beforehand.
It might sound like a simple enough task, but there are literally hundreds of bank accounts to choose from. And each offer their own banking features and benefits.
A comparison site like RateCity can help you work out what bank account product matches your needs.
Once you’ve made up your mind what you want, it’s advisable to have the following information ready for the application process.
- A couple of forms of identification (such as driver’s licence, Medicare card, passport)
- Tax file number
- Residential address, contact phone number and email (though email is not essential)
How do I close my bank account online?
You can usually easily open a bank account online, but you often can’t close it online.
Many banks and credit unions will only let you close an account if you go into a branch or call them on the phone.
However, some banks will let you request to close the account via your internet banking. Check your financial provider’s website for details.
Just remember: If you still have funds in the bank account, transfer them to another account, or withdraw the cash. Also, if you have any payments like direct debits going in or out of the bank account, these will also stop when you close your account.
What do I need to open bank accounts online?
Opening a bank account online is a simple process and only takes between five to 10 minutes to complete. To get started you will need a computer or smartphone with internet access.
Information to have available when you’re ready to apply is:
- Identification (such as driver’s licence, birth certificate, passport, proof-of-age card)
- Tax file number
- Residential address, email and a contact number
In some cases, you might be asked to provide employment details. If you’re not able to verify your identity online, most financial institutions let you provide this in the branch at a later date.
There are some types of bank account that you can apply for only in a branch. However, most bank accounts can be applied for conveniently online.
What do I need to open a company bank account?
To open a company bank account, you will probably have to provide 100 points of ID, an ABN and an ACN. You will probably have to provide the details of all signatories as well.
Can I open a bank account in another country?
Despite having a bad rap for facilitating tax evasion, it is possible and legal to open a bank account in another country, also known as an ‘offshore account’.
Some people choose to open a bank account in another country to invest overseas, for higher interest-earning potential or to access foreign banking services.
The process for opening an offshore bank account differs depending on the financial institution and country in which you’re opening the account.
Typically, you will need to provide identification such as a passport, a local bank statement and a signed declaration proving the source of the money being used to open your account. Usually, deposits into offshore accounts can be made by international money transfer.
Can I start a bank account online?
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.
Can you deposit money into somebody else's bank account?
One of the easiest banking tasks in the world is depositing money. You can even deposit money into someone else’s bank account if you wish.
The basic information you need to deposit money into a third-party bank account is:
- Payee’s name
- Bank, building society or credit union (though this isn’t necessary)
- BSB (or bank code, which is the branch identifier)
- Account number
Including the name of the financial institution isn’t necessary – particularly with online banking – because the BSB will identify this for you.
A handy tip is to record yourself (or add a personal message) in the transaction description or reference. This will show up on the recipients account, letting them know who’s paid them the money.
How can I find bank accounts in my name?
To find ‘live’ bank accounts in your name, you’ll have to ask individual lenders, which involves contacting them one by one and proving your identity each time. To find ‘unclaimed’ bank accounts (those that have been inactive for at least seven years), you can use this website.
How do I open a bank account for a child?
There are few better ways for a child to learn about money management than through savings. And there’s a plethora of bank accounts designed specifically for young people and children.
A bank account for a child can be opened online, over the phone or in a branch in a few easy steps. The minimum age a child can open a bank account for themselves usually ranges between 12 and 14.
If the child is too young to open the account, you can do it for them as their legal parent or guardian.
To do this, you would need to be over 18, have an Australian residential address and currently reside in Australia (or have proof of residency).
You would also need to provide:
- Identification for yourself and the child
- Your tax file number (TFN) or TFN exemption
Depending on the bank account, you might be able to choose what level of access the child has to their bank account (online and via the phone).
How can I wire money to a bank account?
You can wire money to an Australian bank account either through your own bank or by using a money transfer company such as Western Union or MoneyGram. Either way, you’ll need the other person’s name, BSB number and account number. If you use a money transfer company, you might also need to provide the recipient’s address for large payments.
Are bank accounts frozen when someone dies?
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.
How do I transfer money from Paypal to my bank account?
Transferring cash from Paypal into your bank account is simple…if you have a Paypal account that is.
Once you’re logged into your Paypal account, the account balance will appear on your home page. Below your balance are two options:
- Add money
- Withdraw money
Choose option two if you want to transfer money from your Paypal account to your personal bank account.
The next screen will prompt you to either enter new bank account details or choose a bank account that’s connected to Paypal. You can always add more bank accounts to your Paypal profile.
Another way to transfer out of Paypal is by jumping to the wallet tab on the top menu, and clicking ‘transfer money’. Both options will give you the same result.
How do I open a bank account for a baby?
If you’ve just welcome a new baby into the world, congratulations. Opening a bank account for your child can be a wonderful first gift.
Before you can open your child an account, you’ll need to have a birth certificate or passport for your baby.
As the parent or guardian, you’ll also be listed as a joint holder on the account. This means you’ll need to have proof of your identification and address (a driver’s licence, passport, birth certificate or Medicare Card).
Many banks and credit unions offer baby banks accounts. Usually, you can apply online; otherwise you can head into a local branch or office with your documents.