Anyloan Australia :: Articles

Choosing the Right Bank

How do I choose the right bank for my savings or transactional account?

Choosing the Right Bank
Financial institutions are located all around the world. If you are looking to open a bank account, whether that bank account is a transactional account or a savings account, you have a number of banking options.

In fact, you have so many options that choosing the right bank may seem like an overwhelming process.

To make that process easier, you will need to know what to look for in a bank.

Location is the key to many.

If you are interested in having easy access to a bank, you may want to consider doing business with a local bank or a national bank that has a local office in your area.

These banks are ideal for those with cheque accounts or debit cards.

You may find that using an ATM machine, other than the one provided at your bank, results in extra fees.

This is one of the many reasons why banking with a local institution is popular, because you will have easy access to your money.

Time to Refinance?
Image for Time to Refinance?If you are seeking lower rates, lower fees and more flexibility in your home loan. you are in luck! Our national panel of mortgage brokers is looking forward to an opportunity to assist you. Apply online for a free eligibility assessment and one of our broker network refinance specialists will get on the case to track down the best deal for your individual circumstances. Without any obligation and at no charge to you!

When finding the perfect bank for you to do business with, it is also important to determine what you want and need from a bank.

Whether you are interested in opening a savings account or a cheque account, it is important to examine the fees that each bank will charge.

If you are interested in opening a savings account for someone under the age of eighteen, you may find that you are able to receive a free account.

Adults, on the other hand, are often required to pay a monthly fee or maintain a certain balance in their account.

If you are interested in opening a cheque account, there are also a number of fees that you should be on the lookout for.

It is possible to obtain a free cheque account, but many of these accounts come with specific requirements.

You are likely to come across a number of financial institutions that require you to have a set amount of money in your account at all times.

It is also possible to find banks that grant you free cheques as long as you have your pay directly deposited into your account.

There are a large number of banks that will allow you to carry a debit card.

These debit cards can often be linked directly to a savings account or a cheque account.

It is important to determine if you will be charged for obtaining a debit card. Many banks charge an upfront fee, typically less than five dollars, for requesting a debit card.

A number of banks also change monthly fees for using a debit card.

The same can be said for cheques.

In addition to paying for new cheques, there are many financial institutions that charge their clients a set amount of money each time they want to write a cheque.

It is important to keep all of the above mentioned points in mind when searching for a bank.

In addition to determining the cost of banking with a specific institution, you are also encouraged to examine the level of service that you will receive.

You will want to do business with a bank that has a friendly and knowledgeable staff.

By visiting the bank or calling to speak with an employee, you can easily determine the level of service that you should expect to receive.

Choosing a bank is not a decision that should be made on a whim.

A bank is supposed to save you money, but without the proper amount of research it is possible to end up with one that costs you money.

Published: Wednesday, 25th Aug 2021
Author: 10


Finance Articles

The Art of Loan Management: An Essential Skill for Australians
The Art of Loan Management: An Essential Skill for Australians
Loan management skills are crucial for individuals and families in Australia, as they play a vital role in managing finances and achieving financial stability. Effective loan management enables individuals to make sound financial decisions and avoid falling into debt traps. This article aims to highlight the importance of acquiring loan management skills and how it can benefit Australians. - read more
The Power of a Good Credit Score: Tips to Maintain and Protect Yours
The Power of a Good Credit Score: Tips to Maintain and Protect Yours
Credit scores play a crucial role in the financial journey of any individual, especially in Australia where they serve as a snapshot of your financial reliability. This numerical expression based on a level analysis of a person's credit files has a far-reaching impact on various aspects of financial borrowings. - read more
Understanding the Power of Pre-Approval in Your Financial Journey
Understanding the Power of Pre-Approval in Your Financial Journey
Pre-approval in the financial world refers to a preliminary evaluation by a lender to determine how much credit or loan they may be willing to extend to an applicant. It's a vital step for any Australian looking to finance a significant purchase such as a home or a car. Essentially, pre-approval provides potential borrowers with an indication of their borrowing capacity, subject to final verification and approval. - read more
Breaking Bad Budgets: Positive Money Moves to Make Today
Breaking Bad Budgets: Positive Money Moves to Make Today
Financial wellbeing is often a balancing act that many Australians find challenging. In an age where the cost of living seems to climb incessantly, managing money effectively has never been more critical. Yet, despite the importance of financial literacy, many individuals struggle to break free from the cycle of poor budgeting and erratic spending habits. - read more
How to Increase Your Borrowing Power Efficiently
How to Increase Your Borrowing Power Efficiently
Borrowing power refers to the amount of money a lender is willing to loan you, based on your financial situation. - read more

Finance News

Star Entertainment Group Secures Loan Covenant Waiver Amid Financial Challenges
Star Entertainment Group Secures Loan Covenant Waiver Amid Financial Challenges
05 Oct 2025: Paige Estritori
Star Entertainment Group, a prominent Australian casino operator, has successfully secured a loan covenant waiver under its syndicated facility agreement as of September 30, 2025. This development comes at a critical juncture for the company, which has been navigating a series of financial and operational challenges. - read more
ANZ Bank Faces A$240 Million Penalty for Bond Deal Misconduct and Customer Service Failures
ANZ Bank Faces A$240 Million Penalty for Bond Deal Misconduct and Customer Service Failures
05 Oct 2025: Paige Estritori
ANZ Group, Australia's fourth-largest bank, has agreed to pay a record A$240 million ($159.5 million) in penalties following investigations by the Australian Securities and Investments Commission (ASIC) for major misconduct. The violations include acting unconscionably during a A$14 billion government bond deal in April 2023, which the regulator says led to A$26 million in lost government funds. ANZ’s improper trading placed downward pressure on bond prices, undermining government funding. - read more
Commonwealth Bank of Australia Achieves Record A$10.25 Billion Profit Amid Lending Surge
Commonwealth Bank of Australia Achieves Record A$10.25 Billion Profit Amid Lending Surge
05 Oct 2025: Paige Estritori
Commonwealth Bank of Australia (CBA) has reported a record full-year cash profit of A$10.25 billion ($6.69 billion) for the fiscal year ending June 30, 2025. This impressive performance is attributed to robust growth in both home and business lending, coupled with stable interest margins. - read more
DBS Bank Targets A$20 Billion in Australian Lending Amidst Strengthening Trade Ties
DBS Bank Targets A$20 Billion in Australian Lending Amidst Strengthening Trade Ties
27 Sep 2025: Paige Estritori
DBS Bank, Singapore's largest lender, has announced ambitious plans to double its Australian lending book from A$11 billion to A$20 billion over the next five years. This strategic expansion aims to capitalize on the growing trade relationships between Australia and Southeast Asian nations, including Singapore, Indonesia, Malaysia, and Vietnam. - read more
Japanese Banks SMBC and MUFG Drive Growth in Australian Business Lending
Japanese Banks SMBC and MUFG Drive Growth in Australian Business Lending
27 Sep 2025: Paige Estritori
In a notable shift within Australia's financial sector, Japanese banking giants Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG) have emerged as key drivers of growth in business lending. As of July 2025, business lending volumes across Australia's top 10 authorized deposit-taking institutions (ADIs) reached A$925 billion, with SMBC and MUFG leading the expansion. - read more

Need Help Finding a Loan?
Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check!
Loan Amount:
Postcode:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Index Fund:
A type of mutual fund designed to replicate the performance of a specific market index, such as the S&P 500.


Quick Links: | Personal And Business Loans Australia | Business Loan Options | Personal Loans Australia | Leasing Finance Solutions | Finance Brokers Australia | Unsecured Business Loans | Vehicle And Equipment Finance | Compare Finance Quotes | Quick Loan Approval | Low Interest Loans | Flexible Loan Terms