ANZ Savings Accounts
USaver with Ultra
*Deposit at least $200 a month into your USaver Ultra transaction or USaver savings account from a non-UBank account to earn bonus rate. This offer is available on balances up to $200,000.
USaver with Ultra
ANZ offers two standard savings accounts – Online Saver and Progress Saver. It also offers a children’s product called Progress Saver for Kids. None of the accounts charges a monthly account-keeping fee. ANZ also offers a cash management account, as well as home loans, personal loans, car loans, credit cards, insurance, investment services and superannuation. ANZ, which is one of Australia’s big four banks, began life in 1835 as the Bank of Australasia. It also has operations in New Zealand, Asia, Europe, America and the Middle East.
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Intro 3 months then 0.10%
- No monthly fees
- Progress Saver charges $1 per electronic transaction
If you’re looking to open or compare savings accounts, you may have come across savings accounts from ANZ.
ANZ is one of Australia’s biggest banks and offers a wide range of savings accounts, home loans, term deposits, personal loans and credit cards. Regardless of whether you’re opening your first savings account, switching from another bank to ANZ or simply comparing savings account options, ANZ is a big bank, with big options.
About ANZ Bank
Most commonly known as ANZ, the Australian and New Zealand Banking Group Limited is one of Australia’s ‘big four’ banks. Since opening its doors in Melbourne in the 1830s, ANZ has grown its branch network from one to a global footprint of over 800 outlets. In its 180 years of operation, ANZ has built a global customer base of over 10 million. Considered one of the top 50 banks in the world, this big bank has a big offering. From savings accounts to mortgages and investments, from retail banking to regional, rural and small business banking, there is an account, loan or investment for almost everyone.
In addition to its vast global presence, ANZ has more than 2,600 ATMs across Australia.
Being a big bank, ANZ offers a range of savings accounts. Whether you’re looking for a regular everyday savings account, something to kick-start your children’s savings, a goal-based savings account or a flexible savings account, ANZ has a savings account to suit your needs.
Features of an ANZ savings account
One of the advantages of banking with one of the big four banks are their added features and flexibility. Aside from having a larger branch and ATM network than a lot of other banks, accounts with bigger banks like ANZ often have more options and bells and whistles.
For example, ANZ was one of the first of the big four to launch Apple Pay. Apple Pay lets you use your iPhone to pay for things in shops and online using an app and a fingerprint ID. ANZ also gives you more ways to pay using your compatible wearable devices such as Apple Watch, iPad, FitBit and other Android devices.
Other features of ANZ savings accounts include 24/7 access to your money and accounts using the internet and mobile banking. Using a four-digit pin or fingerprint to log into the ANZ App*, you can access your ANZ savings accounts, activate cards, check your balance and transfer money between accounts. You can also pay bills using BPAY and transfer funds overseas.
Another advantage of an ANZ savings account is that deposits of up to $250,000 are protected by the Australian government guarantee scheme.
What to look for in a savings account
Regardless of who you bank with or which savings account you open, you still need to do your research to make sure you find an account that works for you. If you’ve got your sights set on saving, finding an account with a decent interest rate, good features and low fees can make a big difference to your end outcome. Finding the right savings account will depend on your savings habits, ultimate end goal and the number of regular deposits you can make to the account.
There’s no such thing as a one-size-fits-all savings account, and every account holder will want and need different things from their account. More often than not, when you’re comparing savings accounts, you’ll come across a few different types of accounts. These include online saver accounts, high-interest and bonus interest savings accounts, long-term savings accounts and different savings options for kids.
When you’re comparing your options, make sure that you pay attention to features like interest rates, account fees, minimum monthly deposits, access to funds and introductory rates. Also, be aware as to whether the savings account needs to be linked to any other transaction account.
How to apply for an ANZ savings account
Once you’ve compared your options, applying for an ANZ savings account is quite simple. You can apply online, over the phone or by visiting a branch. At the time of application, you will need to provide the bank with proof of ID, contact information, your tax file number and personal details such as your address. To meet the criteria, you’ll need to be an Australian resident and at least 18 years old.
If you’re transferring your accounts to ANZ from another bank, they have a convenient self-service online switching tool. This feature automatically generates letters you can send to your employer and regular billers to let them know your new bank account details.
*The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available at www.anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.
Nick Bendel was a property and personal finance editor, covering 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.
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USaver with Ultra
- Has no overseas ATM fees
- Has no international transaction fees
- Has no ongoing fees
- Has no minimum balances